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cutting agribusiness

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denoginnizer

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I heard the president say he wanted to cut out gov spending on agribusiness in his speach tonight. Anybody know which programs ? Also when the bush tax cuts expire and the inheritance tax comes back how will farms be passed on to future generations?
 

ga. prime

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Cutbacks are already in effect on all subsidy programs. Gross income for eligibilty has been lowered to $750,000 from $2.5 million. The answer to your second question is set up a good estate plan. Specialized tax lawyers and CPAs thrive on this and can protect estates worth many millions from any and all inheritance taxes.
 

CattleHand

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denoginnizer":34qwdxvz said:
I heard the president say he wanted to cut out gov spending on agribusiness in his speach tonight. Anybody know which programs ? Also when the bush tax cuts expire and the inheritance tax comes back how will farms be passed on to future generations?


We are doing this now in my family by selling the land to who ever is inheriting it to avoid gift taxes etc. Im not well versed in that since its more between my Dad and grandpa but I figure people could just keep going that.
 

Jogeephus

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Sounded to me like the large businesses that own farming and cattle operations may need to rethink their tax dodge. Heck, they may even need to turn their ranch acreage that is devoted to golf courses into something productive or get out of the "farming and ranching" business.
 

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