Tag Archive: "Estate Planning"
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How Does Section 1231 Work?
We had a reader ask the following question: “I’m thinking about selling a tract of timber on land that was gifted to me 7 years ago. What can I expect the tax consequences to be? I’m a self-employed farmer.” We have done a couple of posts lately on capital gains treatment of the sale of […]
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When no Estate Tax is a Bad Thing – Part Two
I received two excellent comments on my post from Monday of this week regarding the cost to some farm families of not having an estate tax for this year. The comments had additional information which is all applicable for this year. The main intent of my post was to let farm families know that without […]
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House Extends Current Estate Tax Rules to 2010 and Beyond
The House on December 3, 2009 passed the Permanent Estate Tax Relief for Families, Farmers and Small Businesses Bill of 2009. The Act would permanently extend the current exemption of estates of up to $3.5 million for a single taxpayer and $7.0 million for married couples. For estates larger than there amounts, they would be […]