TeachMeFinance.com - explain Farm and risk management (FARRM) accounts
Farm and risk management (FARRM) accounts The term 'Farm and risk management (FARRM) accounts ' as it applies to the area of agriculture can be defined as ' A proposal that would permit farmers and ranchers to put aside money in good (higher-income) years without having to pay taxes on the savings until it is withdrawn at a later time, presumably in lower-income years when taxable income also would be lower. Bills to create these accounts have been introduced in Congress in recent years'.
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