Posted 2/11/2019 22:54 (#7315146 - in reply to #7314701) Subject: RE: Another investment question
NC Iowa Thompson
That is a tax question, my brother-in-law wants to sell , but the capital gains and state taxes are so atrocious it made him sick. But it is something we all might have to face , nursing home , ect. Expensive, my sister ,her husband, 4 years in nursing home .almost @ 225.00 a day . Do the math it is not pretty, they tried to get more insurance, but was not insurable. Our tax attorney and estate lawyer said that they very rarely have any older client sell for any reason, if needed for medical expenses they suggest taking a loan out against the farm. After listening to there strategy it made perfect since to me. . Good luck
I saw Wisconsin has a young farmer tax credit , might want look into that . Help a young family and get a tax credit , sounds like a win win to me.