Landowners who have been in the business of farming for many years make decisions that often do not come home to rest until the farm is sold or transferred to the next generation by gift or bequeath. The total impact of these decisions, which began at the time the farm was purchased and continued through each acquisition of depreciable property, affect the income taxes agricultural producers pay while they are farming as well as when the farm is sold or transferred to a new owner. The total cost of buying or selling a farm can … [Read more...]