213 - "Know Your Numbers" And Other Advice from The Farm CPA
The Business of Agriculture Podcast
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How to Convert Ordinary Income Into Capital Gains
A capital gain is you own farm land or gogle your own stock and microsop, whatever it might be. Instead of paying tax at a 37 % rate, you're going to pay tax at a 15%. The president wanted to boost out all the way up to 39 point six percent on income over a million dollars. House proposal that just came out says, no, we're only going to bump it up to 25%, but it's going to kick in at about 400 thousand pance of your income.
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