Agricultural Law

1031 Exchange Transfers – If you’re thinking about doing one, plan ahead!

If you sell land at today’s high land prices, you might face some large capital gains taxes.  If you know that you want to purchase more land though, the US government has provided a way to help you defer those taxes. The IRS outlines its 1031 Deferred Like-Kind Exchange in...

Estate Tax Hurts Disproportionately Affects Farmers, Ranchers & Business Owners – Repeal Possible?

Periodically we hear about a possible repeal of the estate tax.  The Farm Journal reports that several lawmakers have introduced a bill to repeal the estate tax, citing its disproportionate impact of farmers, ranchers, and business owners.  It’s true that the estate tax...