The passage of the American Taxpayer Relief Act of 2012 on January 2, 2013, settled, for now, the transfer tax uncertainty facing businesses of all sizes, and in particular closely-held family businesses of which the family farm or ranch is one type. This article attempts, from a farm management viewpoint, to provide perspective as to how American agriculture can now focus on the often-difficult tasks and decisions within the transition planning process of moving assets and management from one generation to the next. Tax schemes are discussed individually as to their impact on the transition process.
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Choices Magazine |
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Choices Magazine |
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Written Material |