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Shiner Gazette in Shiner, Texas

19 Jun 1958

Page 2

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Newspaper

Shiner Gazette

Location

Shiner, Texas, United States of America

Date

Jun 19, 1958

Page

2

New IRS Rules Affect Wheat Sales in Texas

Lavaca County Extension notes a recent IRS ruling on sale of wheat under contract for payment in a later year. Wheat can be sold and delivered now with proceeds taxed in a future year, impacting farmers buyers and other trades as harvest nears.

MENTIONED IN THIS ARTICLE

Internal Revenue Service Texas Oak Grove Lavaca N.Y.A J. P. Harbich Frank Kocian Elaine Godfrey Klekar Elizabeth Jim Konvicka Rita Jimmie L. B. Mladenka Edwin Pfeil Sharon Gus Nellkamper Norma Jane Ronnie Frank Lieber Barbara G. O. Little George Lester Mack Wilson John L. Haverda Marie Haverda James C. Haverda Kyle Little Richard Martin
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Tax guidance on crop sales and education deduction rules

The ruling explains that wheat sale proceeds under cash receipts with payments in the following year are taxable when payment is received. It also outlines IRS education expense deductions, criteria for deductibility, and examples, plus agricultural notices on grasshopper and pasture weed control and 4-H activities in Lavaca County.

MENTIONED IN THIS ARTICLE

CCC Internall Revenue Service Internal Revenue Service Certified Public Accountant Dallas E’s
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Also Mentioned on This Page

Lavaca County Extension News John V. Lindsey Doris Myers Penses Watermelon Rin Gladiola Htc Devil’s Food Hunt Lipton’s Hamburger, Bb Bacon, Bb Tolgers Philadelphia Mrs. Tucker Colgate Pteland Charmin Welhausens Foodcraft Shiner Charmin Quality Pharmacy, Inc DIAL
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