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Tax law affects expensing, like-kind exchanges

Tax law affects expensing, like-kind exchanges
Charles Brown Brown is farm management specialist for Iowa State University Extension.

The Tax Cuts and Jobs Act (TCJA), which was signed in late 2017, created new tax brackets for 2018 thru 2025. It also eliminated the deduction for personal exemptions and raised the standard deduction in 2019 to $12,200 for single fliers, $24,400 for married filing jointly and $18,350 for head of households. Keep in mind that, unless extended, most of the changes in TCJA end in 2025 and move back ...




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