How to Exit Ag Without Paying a Monster Tax Bill Webinar

I was talking with an older farm yesterday and I asked him when he was thinking about retirement and he said “I wish I had done it a couple of years ago.”.  There are many farmers in the same shoes that would like to retire now, but are worried about the large tax bill that might come due.

Most farmers defer grain sales and prepay farm expenses for many years and in the final year of farming, they have very little expenses to offset all of that deferred grain income.  Nick Houle (a principal in our Minneapolis office) and myself will be doing a webinar for DTN/Progressive Farmer next Thursday February 18 at 9 am CST.  We will cover how to exit Ag without paying a monster tax bill (although taxes will still be owed).  Some of the subjects we will cover are:

• Using a charitable remainder trust to dispose of grain and farm equipment,
• Using a cash balance plan to help get rid of that built-up grain inventory,
• Eliminating the tax on farmland trapped inside of a C corporation.

There are many other items we will cover in the webinar.  If you are interested in listening to the hour and half webinar (the sign-up indicates an hour, but we pushing it out to an hour and half), you can access the registration form here.

If you are unable to listen live next Thursday, it will be recorded and available at a later time.  There is a nominal fee to access the webinar.

Paul Neiffer, CPA