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Biden’s plan would restore that rate immediately for individuals making over $400,000.Ordinary income tax rate of 39.6% would apply to capital gains and dividends for households earning more than $1 million of income. Extend the higher standard deduction and other deductions enacted by the TCJA that are scheduled to expire after 2025.Extend the current $2,000 child tax credit beyond the TCJA expiration date of 2026.Extend the higher estate and gift tax exemptions enacted by the TCJA that are scheduled to expire after 2025.Require a dependent to have a Social Security number to be eligible to be claimed for the $500 other dependent credit. Trump has discussed several changes to the treatment of capital gains taxation, including 1) indexing capital gains for inflation; 2) reducing the top capital gains tax rate from 20% to 15%, and 3) enacting a capital gains tax holiday that eliminates capital gains taxes for an as yet undefined period of time. Under current law, the top tax rate for capital gains and qualified dividends is 20% for income over $441,450 for individuals and $496,600 for married couples filing jointly.

With software that can calculate the need for seed, fertilizer, and water for each field you plant, and project the yield that each field will produce based on past performance, you can control costs and make planting decisions more effectively. One of the best performing technology tools available to farmers is Figured, which is the first integrated technology platform that brings together farm management and financial accounting in one tool, enabling users to manage a farm like a business. Getting the most out of Figured requires a good understanding of the prices you need to lock in for seed, fertilizer and fuel, as well as a willingness to run the what-if models and switch gears if the data says a different crop will be more profitable. So, if you are using John Deere equipment to plant a corn field, it will upload to Figured the data on exactly how much seed is planted in each field, enabling you to allocate fertilizer and fuel costs on a per field basis.

A figure below 50 indicates decline.)Drilling down into the statistics, Kansas manufacturers showed particular strength in new orders, with an index of 68, as well as production at 64.8.Only in employment did the state show a declining index at 48.3. While manufacturing is expanding, the COVID-19-related layoffs and furloughs contributed to July being the twelfth straight month of employment contraction in the U.S., which raises the question of how manufacturers are responding to increased orders and growth opportunities with fewer workers. Some of the most popular state tax credit programs and incentives that attract manufacturers to Kansas include:PEAK (Promoting Employment Across Kansas) – Created in 2009, PEAK provides a credit on employee withholding for Kansas income taxes if they create at least five jobs within a two-year period. This program provides state tax credits against the cost of industrial training provided by companies that have created new jobs or retraining of existing workers by companies that have purchased new software or equipment.

In the wake of the COVID-19 pandemic and with the passage of the CARES Act, many states have seen substantial increases in the number of individuals seeking unemployment insurance benefits. To eliminate delays and speed up the payment of these benefits, many states loosened the traditionally extensive review process aimed at uncovering fraudulent claims. As a result of this change in the review process, states are experiencing increased identity theft in the form of unemployment benefit claims. Instead, scammers are locating personal information through credit card data and personal information breaches to illegally apply for unemployment under false names.