| KevinM - 1/9/2025 15:02
Bergland may have said that and his sentiments were probably whispered in the hallways of DC BUT the tax code says different. Yes it requires staying current with the law but I don’t know any business that doesn’t. It is work to keep up with your money. The more you have the harder it is. Here’s a synopsis of the 1976 and 78 tax law. There’s also an IRS code 2032A that is still available today. My Dad’s brother and his wife were both killed in an automobile accident in 1978 at the age of 48 so I have the T-shirt. But I’ve forgotten a lot of the details from then but it was manageable. Dad bought some of the land that they owned together and made it work but it was a tough time. Again, and not criticizing what happened between dad and brother, but if they had a buy/sell agreement in place ahead of time, with a cross purchase plan as buyout provision, the tough time could have been avoided. I have this in place with my brothers on land we own in undivided interest, would not want anything less. |
Carter's Sec of Ag Bob Bergland and the Demolition of the Family Farm.
