Taxes

Thinking Outside the Bowl Tax Deferral Strategies

  I don’t know about you but every time I get a tax bill, I get mad. Its not that I mind paying my fair share of taxes because I don’t but rather because I know that my tax bill will be more than last year and my taxes will be wasted. I want my taxes to go to helping minority kids get educated, fixing infrastructure and providing benefits for military families while their loved ones are deployed all over the world protecting our way of life. Instead, my hard earned income and yours is going to help some member …

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Higher Tax Rates on Land Sales

by Andy Biebl, CPA With the slowdown in farmland appreciation, we may see retired landlords and investors willing to sell. But there is a new barrier; higher capital gain rates. With land sellers now often facing 23 to 25% federal rates plus additional state income taxes, we will see sticker shock and an unwillingness to deal. As we learned coming out of the Reagan era, higher capital gain rates suppress selling activity; lower rates stimulate ownership changes. THE NEW RATES.  Previously, a large gain from the sale of farmland was taxed at a flat 15% federal capital gain rate regardless …

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