Leaving a legacy has always been an important concept for farm families. While that legacy often involves landholdings and leadership roles, it can also include faith, values, and reputation.
Roger McEowen with the Washburn School of Law joined RFD-TV’s Tammi Arender to discuss why legacy also involves character, the main considerations producers need to keep in mind to best structure their farming business, and how a farmer knows if their activity is a trade or business in the eyes of the IRS.
Related Stories
As spring migration ramps up, USDA officials warn farmers about rising bird flu risks and urge stronger biosecurity measures. Resources are available through APHIS to help protect livestock.
Herd growth and exports supporting dairy outlook.
Strong exports continue to support corn despite larger supplies.
New guidance supports transparency, consumer trust, and American ranchers
Bigger stocks may limit upside in cotton prices.
Export growth remains key for grain profitability.
