Farm life protection from the top.

[TexasBred]

When roads were first paved here 60 or 70 years ago, the state/county gave landowners bordering the paved roads as many rolls of wire as it took to fence their land to keep livestock off the roads.

And I had a Telfair county commissioner tell me that she wanted me to move my fence because it was on the easement. There's no deeded easement or right of way on the old dirt road, and never has been.

Bet your survey will show you exactly where you fence should be though. ;-)

 

[True Grit Farms]

When roads were first paved here 60 or 70 years ago, the state/county gave landowners bordering the paved roads as many rolls of wire as it took to fence their land to keep livestock off the roads.

And I had a Telfair county commissioner tell me that she wanted me to move my fence because it was on the easement. There's no deeded easement or right of way on the old dirt road, and never has been.

Bet your survey will show you exactly where you fence should be though. ;-)

It does, but I'm not going to fence the old road off just to prove that I can. I bought title insurance on this property because of a couple of issues and the back property line was a main concern.

 

[ChrisB]

1 in around 500 families are affected by the estate tax.


around here getting to 5 million isn't very hard to get to. A LOT of farmers in this area are farming 1,000 - 10,000 acres. At 6 - 14k per acre value, you can see how easily it is to hit this number. They have already been taxed on that land, pay taxes annually on that land. I don't own it or should the gov.

This is america not venezuela.

I'm sorry you guys worked hard, but I've worked hard too. I worked all through my 20's 7 days a week 12 hour days. I've done things that would break most people, and worked more then most do in their lifetimes. If I do get to 5 million one day, I surely hope they aren't going to take nearly 1/2 that from my kids, who I've worked so hard for.

I think most people should be thankful they have a roof, heat, food security, and a feeling of safety. We are so spoiled in this day that we have to create problems (racism, money, etc)

Even if you get to say $6 million and die, your kids aren't paying taxes on the whole $6 million, just the amount over the exempted amount which is around $5.5 million. So they would be paying taxes on $500k, so roughly $200,000. Still a lot of money but it really makes me wonder about people claiming they have to sell the family farm to pay the estate taxes.

 

[TexasBred]

Bet your survey will show you exactly where you fence should be though. ;-)

It does, but I'm not going to fence the old road off just to prove that I can. I bought title insurance on this property because of a couple of issues and the back property line was a main concern.[/quote]

Build that fence Grit...better yet build that wall then give them a call and say "lets talk". ;-) :nod:

 

[boondocks]

1 in around 500 families are affected by the estate tax.


around here getting to 5 million isn't very hard to get to. A LOT of farmers in this area are farming 1,000 - 10,000 acres. At 6 - 14k per acre value, you can see how easily it is to hit this number. They have already been taxed on that land, pay taxes annually on that land. I don't own it or should the gov.

This is america not venezuela.

I'm sorry you guys worked hard, but I've worked hard too. I worked all through my 20's 7 days a week 12 hour days. I've done things that would break most people, and worked more then most do in their lifetimes. If I do get to 5 million one day, I surely hope they aren't going to take nearly 1/2 that from my kids, who I've worked so hard for.

I think most people should be thankful they have a roof, heat, food security, and a feeling of safety. We are so spoiled in this day that we have to create problems (racism, money, etc)

Even if you get to say $6 million and die, your kids aren't paying taxes on the whole $6 million, just the amount over the exempted amount which is around $5.5 million. So they would be paying taxes on $500k, so roughly $200,000. Still a lot of money but it really makes me wonder about people claiming they have to sell the family farm to pay the estate taxes.

Good point, and under the new law, it's actually the first $22,000,000 or so that's exempted (for a married couple; half that for singletons).
And no one who's in favor of the new law has addressed the issue of the stepped-up basis. They just keep saying it (the gain) was already taxed (but it was not. That's the whole point of the stepped-up basis).

 

[True Grit Farms]

1 in around 500 families are affected by the estate tax.


around here getting to 5 million isn't very hard to get to. A LOT of farmers in this area are farming 1,000 - 10,000 acres. At 6 - 14k per acre value, you can see how easily it is to hit this number. They have already been taxed on that land, pay taxes annually on that land. I don't own it or should the gov.

This is america not venezuela.

I'm sorry you guys worked hard, but I've worked hard too. I worked all through my 20's 7 days a week 12 hour days. I've done things that would break most people, and worked more then most do in their lifetimes. If I do get to 5 million one day, I surely hope they aren't going to take nearly 1/2 that from my kids, who I've worked so hard for.

I think most people should be thankful they have a roof, heat, food security, and a feeling of safety. We are so spoiled in this day that we have to create problems (racism, money, etc)

Even if you get to say $6 million and die, your kids aren't paying taxes on the whole $6 million, just the amount over the exempted amount which is around $5.5 million. So they would be paying taxes on $500k, so roughly $200,000. Still a lot of money but it really makes me wonder about people claiming they have to sell the family farm to pay the estate taxes.

Good point, and under the new law, it's actually the first $22,000,000 or so that's exempted (for a married couple; half that for singletons).
And no one who's in favor of the new law has addressed the issue of the stepped-up basis. They just keep saying it (the gain) was already taxed (but it was not. That's the whole point of the stepped-up basis).

I can't see the new change in the estate tax affecting me at all. So why should it affect anyone? I can't see why someone should be penalized for doing good or having more than I have. It just doesn't make sense in a free society.