PARKER, COLORADO (RFD-TV) — Farmers are now able to defer paying tax on the sale of farmland. It is one of the many provisions of the “One Big Beautiful Bill” Act (OBBBA) and allows producers to defer paying the tax over a three-year period. However, there are a few requirements.
Farm CPA Paul Neiffer joins us on Thursday’s Market Day Report for a closer look at the conditions a farmer must meet to qualify for this new three-year tax deferral on farmland sales, how much it could save, and other details to consider.
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Happy National Small Business Week!
This Firm to Farm blog post by farm legal and taxation expert Roger McEowen of the Washburn School of Law discusses the Small Tracts Act and resolving issues with the US Forest Service.
Watch On the Record every Friday at 7:30 PM ET/6:30 PM CT on RFD-TV and also on the RFD-TV Now App.
