A new study confirms proposed changes to taxes on inherited property will have a devastating impact on the next generation of family farmers and ranchers.
The Preserving Family Farms Act would help family-owned farms continue operations after a loved one has passed by easing the burden of the estate tax.
The Preserving Family Farms Act of 2019 was recently introduced to help more farm families continue their livelihoods after the death of a loved one.
The House-Senate tax bill will provide near-term benefits to many ag producers, but rate reductions and estate tax changes beneficial to ag are temporary, according to national ag accounting and business advisory firm K·Coe Isom. “The core of this bill is a 21% flat rate for C corporations,” said Doug Claussen, Principal and CPA with […]
Shuffling through income and estate tax planning for the family farm can be draining and stressful, but it is extremely crucial to successfully transition the farm to the next generation. We had the opportunity to visit with Kevin Mills, CPA, and Jim Rein, Head of Estate Planning and Next Generation Division, with K·Coe Isom at […]
Farmers across the country are concerned about the estate tax and its potential to financially bankrupt the family farm upon their death.