The 2017 Tax Cuts and Jobs Act created what was known as the “grain glitch” through the creation of the new Section 199A deduction. That provision allows for a 20 percent deduction from income earned by a “pass through” business. “Pass through” refers to small and medium-sized businesses organized as sole proprietorships, partnerships, and S corporations, which “pass” their business income through from the business’ activities to the entrepreneur who owns the entity. The income is then taxed at the personal tax rate. About 93 percent of all farms in the U.S. are pass through business tax filers. But the glitch came from the provision’s inclusion of a 20 percent deduction on &ldquo...
Key Market Insights The broad market is locked in on this week’s Trump-Xi meeting in Beijing, but this is no longer just a trade summit. Increasingly, the meeting is becoming tied directly to Iran, energy security, and the growing global economic fallout from disruptions through the Strai...
From WPI Consulting
Accountability and a comprehensive approach to export programming
WPI’s team helped construct a strategic approach to develop, implement, and track promotional activities in 8 key regions across the globe for an agricultural export association. With continued progress measurement and strategic advisory services from WPI, the association has seen its ROI from investments in promotional programming increase by 44 percent over the past 5 years. Not only does this type of holistic approach to organizational strategy provide measurable results to track and analyze, it fosters top-down and bottom-up organizational accountability.