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Coffee Shop
Proposed "death tax" may kill the family farm?
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<blockquote data-quote="Jogeephus" data-source="post: 968285" data-attributes="member: 4362"><p>You are right and that goes back to what I was saying about making financial decisions that is not good for the small business. I mean, if the backbone of this country is small businesses we should have a tax code that encourages small business growth. The deat tax does just the opposite. Rather than build a business it pays you to destroy it after a certain point. Just doesn't make sense to me.</p><p></p><p>If you haven't been thinking about it and doing the neccessary stuff they could easily pierce your corporate veil anyhow.</p><p></p><p>Of course another way to handle it is just not to die - on paper anyway. Hook, once you install the walkin freezer you can just tell dead-eye to stick your dead carcass in the freezer till all the stock can be gifted to him. It might take a little while but hey - dead's dead right and in the ground or in the freezer there really isn't a big deal. I actually know someone who considered doing this with their father. Their father would have been in full agreement because had he only died three days later it would have saved the family a quarter of a million dollars. Had it been me, I would have haunted my kids had they not done that to me.</p></blockquote><p></p>
[QUOTE="Jogeephus, post: 968285, member: 4362"] You are right and that goes back to what I was saying about making financial decisions that is not good for the small business. I mean, if the backbone of this country is small businesses we should have a tax code that encourages small business growth. The deat tax does just the opposite. Rather than build a business it pays you to destroy it after a certain point. Just doesn't make sense to me. If you haven't been thinking about it and doing the neccessary stuff they could easily pierce your corporate veil anyhow. Of course another way to handle it is just not to die - on paper anyway. Hook, once you install the walkin freezer you can just tell dead-eye to stick your dead carcass in the freezer till all the stock can be gifted to him. It might take a little while but hey - dead's dead right and in the ground or in the freezer there really isn't a big deal. I actually know someone who considered doing this with their father. Their father would have been in full agreement because had he only died three days later it would have saved the family a quarter of a million dollars. Had it been me, I would have haunted my kids had they not done that to me. [/QUOTE]
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Proposed "death tax" may kill the family farm?
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