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Dad Just Passed, Best Way to Change Leases for Mom?
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00rooster
Posted 9/18/2016 19:34 (#5536448 - in reply to #5536189)
Subject: RE: Dad Just Passed, Best Way to Change Leases for Mom?



It is far too soon for your mom to be making any kind of decisions about this. Give it at least until after the holidays before you even start to approach this.

But first off, cash rent with no expenses should be about the same as shares crop with expenses.

2nd, your mom will likely be able to take depreciation from any equipment that goes to her which could dramatically lower her tax bill for several years(see a CPA)

I don't know your mom's age, but there are considerations for taxable income when it comes to medicare, you need to stay below $85,000 or something like that.

Cash rent is a simple and secure way for you mom to know her budget, if this is her only source of income and she is going to rely on it then she would probably appreciate security over dickering around a few bucks in taxes

Sorry for your loss.

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