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Tax Traps and Opportunities Associated with Family Farm Transfers

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  • Smith, Stuart F.

Abstract

Transferring farm property from the Senior to the Junior farm family generation with conventional methods such as sales and debt transfer can cause tax traps or burdens. The most serious tax traps and related problems occur when the farm business being transferred has high debt and is below optimum size and profitability. Farm families should recognize the conditions that cause tax traps when farm property is transferred. Alternative planning and transfer strategies can be used to avoid serious tax traps and maximize after tax income.

Suggested Citation

  • Smith, Stuart F., 1995. "Tax Traps and Opportunities Associated with Family Farm Transfers," Staff Papers 121309, Cornell University, Department of Applied Economics and Management.
    • Handle: RePEc:ags:cudasp:121309
    DOI: 10.22004/ag.econ.121309
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    Keywords

    Farm Management;

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