The Internal Revenue Code provides a special provision for farmers and fisherman who have income that varies greatly from year to year called "income averaging." In addition to fluctuating income, if there is a major tax rate change as is the case for 2013, income averaging may be especially beneficial for you if you are a farmer or fisherman and are lucky enough to be subject to the top tax rate of 39.6% in 2013, 2014 and 2015.
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© Copyright 2015 - Stevens, Sloan & Shah CPAs - A California Professional Corporation
975 West Alisal Street, Suite D, Salinas, CA 93901 || 1631 Willow Street, Suite 110, San Jose, CA 95125
Serving Salinas, Monterey, King City, Soledad, Carmel, the greater Monterey County Area, Silicon Valley and the Greater Bay Area
© Copyright 2015 - Stevens, Sloan & Shah CPAs - A California Professional Corporation
975 West Alisal Street, Suite D, Salinas, CA 93901 || 1631 Willow Street, Suite 110, San Jose, CA 95125
Serving Salinas, Monterey, King City, Soledad, Carmel, the greater Monterey County Area, Silicon Valley and the Greater Bay Area