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The first section of this publication briefly discusses tax law changes affecting individuals that take effect in 2006 or 2007. The second section emphasizes changes affecting businesses in 2006 and 2007, including the domestic production activities deduction and effects of changes in Section 179 expensing and depreciation. There is a discussion of tax-deferred exchanges of real estate and personal property like machinery and equipment in the third section. Government program payments, cost-sharing and other conservation-related payments with their reporting options, and the tobacco buyout program are covered in the fourth section. Farm income averaging and other recent tax developments affecting Midwestern agricultural producers are covered in the fifth section.
Publisher | Purdue University |
Publication Date | November, 2006 |
Publication Views | 1496 |
Material Type | Written Material |