A previous Tax Talks post discussed how individuals can pass away with over $11.4 million worth of assets federally. The post also covered the benefits of passing assets through the estate process. This led some astute observers to ask about deathbed transfers, which is the topic of this post.
Now that the dust has settled on the 2018 tax season (for the most part!), it is time to continue fine-tuning tax strategies for Northeast agricultural producers. One of the easiest ways to maximize the 199A deduction is to ensure the farmland being utilized in the operation qualifies for the deduction.
Rural properties have many features that make them appealing to buyers, but also come with a unique set of considerations when choosing the right property. To avoid the pitfalls of buying your piece of paradise, check out these 10 rural property tips.