Farmers Beware – Changes in The Capital Gains Tax Are Coming!
There is every possibility that capital gains taxes, taxes on the increase in the value of your farm, will be imposed on your family before you die.
Regardless of your view of who’s in Washington right now, you are not likely to be looking to sell or die in the next few years – so whatever is happening now is not what’s important.
This article explores the impact on farmers and business owners wanting to sell or pass along their business based on the very real probability of this impending increase.
Thinking of selling your business? If you have planned it correctly, most of your transaction proceeds should be long term capital gains.
Given the current political climate and the upcoming change in the White House, capital gains taxes will come under attack.
Here is an article contributed by a very real expert on Main St. Changes in the Capital Gains Tax Will Hurt Business Sellers
Recommended Reading
- Family Farm Succession Planning
- Seriously, What Are You Actually Doing About Your Farm Succession Planning?
- Farm Success Nowadays Requires Excellent Management Competencies
- Are You Honestly Doing Something About Your Farm Succession Planning Or Not?
- Farm Succession and Strategic Planning Group
