Some farmers are raising concern over estate complications and the potential for tax hikes when President Biden releases his tax plan.
Ag CPA Paul Neiffer speaks with RFD-TV’s own Janet Adkison on the major increases farmers should be concerned about.
“The major tax increase from the estate side that we’re looking at is that President [Biden} and the Democrats would like to roll back the lifetime exemption, which is currently almost $12 million dollars. They want to bring it back down to probably $3.5 million dollars... estate taxes are definitely, likely, going to change.”
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