March, 2011

It is Sales Price – Not Cash on 1031 Exchange

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March 21st, 2011

We got a follow up question from our reader last week regarding Section 1031 tax-deferred exchanges: “This is a follow up question to your answer about “Defer Gains” on March 16th Who normally is an “accommodator” and can that monies held by the accommodator be rolled to pay off our existing mortgage on our home. […]

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Defer Your Gain

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March 16th, 2011

We had a reader ask us the following question: “When we sell our farm (that is currently cash rented out) is there any capital gains break if that “gain” is invested with a certain certain period of time.” When the real estate market was hot several years ago, many real estate investors took advantage of […]

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It’s Not How Many Times You Get …….

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March 14th, 2011

Being in the middle of the busiest tax season that I can ever remember, we took some time out last week to attend a luncheon for the local economic development group.  The keynote speaker was one of the co-founders of the game Cranium.  His first story was about being in a taxi ride in Dallas […]

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Take Advantage of Tax Rate Arbitrage!

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March 2nd, 2011

Many farmers created a corporation several years ago to operate their farm.  Many of these corporations have been converted over the years into S corporations.  However, one of the potential drawbacks is the retained earnings inside of the corporation that need to be distributed at some point in time. Normally, S corporation basis is fixed […]

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    Traveling to Billings for Farm Financial Standards Council annual meeting 16 hours ago

    Congrats to # 24. The Chase is in for #5 1 day ago

    Got to drive a Case IH 2388 yesterday in 130+ bpa wheat for two hours. My idea of a perfect day. Have two more days end of the week 2 days ago

    Debt as percentage of farm assets will go up as farmland and equipment values go down. Where will it stop? 2 days ago

    Photo of 140 bpa wheat near Walla Walla pic.twitter.com/YsA2wPt1iH

    3 days ago

    Corn does well in Washington state. 55 at night 95 during the day plus irrigation 5 days ago

    If average cash rents drop $50 this fall and cash return is 2% equals drop in average land values of $2,500. We shall see. 5 days ago

    2 years ago corn + beans + wheat was almost $40. Now it is under $20. 5 days ago

    Great time with @MRRChip today on Market Rally talking about the new farm bill. 6 days ago

    Drove over 2,000 miles in last 12 days. Saw a lot of good looking corn. Beans not so much 1 week ago