The IRS Could Own Up to 46 Percent of Your Farm: Solutions for estate tax exposure

摘要

Without proper estate planning the IRS will claim up to 46 percent of the value of the farm upon death in estate tax. However, with timely, educated, proper planning the estate tax can be reduced or in many cases, eliminated altogether. For example, apotato farmer owns 2,000 acres of land which he farms and leases out. This land is valued at 2,000 per dollar acre. When you add farm equipment, potato cellars, tractors, vehicles and homes on the farm, an estimated value of 6,000,000 dollar is attached to the owner's estate.