Farm families often expect estate tax to be the big succession cost, but income tax can hit harder. Learn how depreciation recapture on equipment and the tax-value reset heirs get when they inherit assets can change the bill before the farm changes hands.
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Many farm families expect estate tax to be the biggest succession bill, but income tax can bring the sharper surprise. If heirs sell equipment, the IRS may tax depreciation the farm claimed over the years, even when the equipment is paid off
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When bank or SBA funding moves slowly, an Arizona owner-operator may need cash for payroll, a lease deposit, or inventory before the money arrives. A short-term loan backed by a Rolex can help bridge that timing gap
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Farm families often worry most about estate tax, but income tax can deliver the bigger surprise. See how depreciation recapture on paid-off equipment and a step-up in basis can change what heirs owe when the farm changes hands.