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FTC Episode 343: Tax Strategies for Passing Land to Others: The 1031 or 721?

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Manage episode 471280183 series 2441904
Content provided by Producer AgriTalk and Farm Journal. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Producer AgriTalk and Farm Journal or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.

If you are involved in farming, there’s a good chance your family owns some land. That land may have a lot of value and passing it from one generation to the next, whether that is inside or outside the family, can have a lot of consequences attached to it. It can be difficult to maintain family harmony and the sellers often want to have a plan in place to not see taxes eat up all the profit. We discuss a 721 plan, a method that many of us may not know.

See omnystudio.com/listener for privacy information.

  continue reading

104 episodes

Artwork
iconShare
 
Manage episode 471280183 series 2441904
Content provided by Producer AgriTalk and Farm Journal. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Producer AgriTalk and Farm Journal or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.

If you are involved in farming, there’s a good chance your family owns some land. That land may have a lot of value and passing it from one generation to the next, whether that is inside or outside the family, can have a lot of consequences attached to it. It can be difficult to maintain family harmony and the sellers often want to have a plan in place to not see taxes eat up all the profit. We discuss a 721 plan, a method that many of us may not know.

See omnystudio.com/listener for privacy information.

  continue reading

104 episodes

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