GFM Network News

Be sure to consider capital gains implications several years before selling a farm.

A tax plan can mean multiple capital gains exemptions

Capital gains exemptions can save hundreds of thousands of dollars

The lifetime capital gains exemption for qualified farm property allows for significant tax savings when selling assets and can be important for retirement planning and preparing for farm transition. Although the capital gains exemption rules are quite technical, they’re also very generous, particularly with farm real estate. With some smart planning, the capital gains exemption