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Passing on the farm.
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Mntaxedtodeath
Posted 4/4/2021 12:50 (#8933536 - in reply to #8932911)
Subject: RE: Passing on the farm.



SWMN
NwmoW900 - 4/4/2021 06:59

I agree with some of that but also have a different idea of what I will do if tax laws allow. I will rent all my land at a very fair rate or crop share with my kids. I plan to help them buy new acquisitions if needed. To expand a family farm you can’t be paying for the same land over and over. I’m 31 with my oldest being 5 so I have a while. Still farm with my dad and we have bought several farms together over the last 10 years. We have been able to buy way more pooling our funds together.

How would recommend helping them buy land. It sounds like a good idea but never heard of a way so I don’t know the best way tax wise.
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