The world of estate planning for farmers has changed dramatically after the passage of the One Big Beautiful Bill Act. This permanently increased the lifetime gift and estate tax exemption to $15 ...
Qualified farmers can now elect to pay capital gains tax on farmland sales in four equal annual installments under new law.
Most farmers will be able to shoulder the inheritance tax bill foisted on them by the Treasury at last autumn’s Budget without having to sell their family farm, according to a fresh analysis which ...
The Dec. 31, 2025, expiration of many provisions of the 2017 Tax Cuts and Jobs Act (TCJA) adds a new task to the 2025 congressional to-do list: updating the tax code. Many TCJA provisions provided ...
Chancellor Rachel Reeves is facing fresh pressure from farmers to axe plans to introduce inheritance tax on farming land and businesses. Ahead of the Budget next week, the National Farmers’ Union (NFU ...
For everyone, the annual gifting limit is still at $19,000 per person, but everyone can also use their lifetime credit while living. There are a few other income tax things that are new, but on the ...
To calculate your net loss, you must first know which expenses are deductible. Generally, any expense that is both “ordinary and necessary” for running your farm can be deducted. An ordinary expense ...
Agricultural producers have until March 2, 2026, to file their 2025 income tax returns without penalty if they have not made estimates. “Producers have until April 15 to file without penalty if they ...
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