Former U.S. Sen. Mike Johanns joins Houston-based tax consultant group
Former Nebraska United States Senator Mike Johanns has joined a Houston-based tax consultant group, advising them on agriculture.
Johanns is the new Chairman of Agriculture for alliantgroup. Johanns served as Secretary of Agriculture under President George W. Bush from 2005-2007.
Johanns says agriculture is feeling the pinch and family farmers and small agricultural businesses need to squeeze every benefit they can from the federal tax code.
“We’ve got to make sure that what you’re doing in your business that you are getting the full benefit of the laws that are on the books,” Johanns tells Nebraska Radio Network.
Johanns says many people engaged in agriculture could claim the Research and Development Tax Credit, but too many believe incorrectly the R&D credit is only for big business.
Johanns says small to mid-sized farms and businesses cannot afford to overlook tax breaks.
“This really does bring dollars to the bottom line and when you bring dollars to the bottom line you employ people in that small community, you make everything better for businesses on Main Street in that small community,” according to Johanns. “So, that kind of focus for me is just a natural, that’s where I spent most of my career is traveling the highways and the byways of rural Nebraska.”
Johanns says a number of farm practices could qualify for federal tax credits.
“Maybe they’re experimenting with different and new fertilizers. Maybe they’re experimenting with equipment, investing money to try to make their equipment more precision-based in terms of where that fertilizer goes to maximize the yield,” Johanns says. “All of those things have the potential to qualify for the R&D tax credit,”
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Mike Johanns was the U.S. Secretary of Agriculture from 2005-2007 as well as the Governor of Nebraska from 1999-2005 and the state’s U.S. Senator from 2009-2015. As alliantgroup’s Chairman of Agriculture, Johanns brings more than 30 years of experience at virtually every level of government and a strong background in both agriculture and economic development. As the Secretary of Agriculture, he managed 18 different agencies, opened or expanded access to 40 international markets and was responsible for multiple agricultural breakthroughs as a negotiator for the Doha Development Round.