TAXPAYERS MAY CHOOSE to take advantage of the de minis safe harbor election under the new tangible repair regulations, as we discussed last month. However, there are other available elections that may better suit your business. The safe harbor election for small businesses and the election to capitalize repair and maintenance costs will alleviate the […]
Repair regulations: Available elections (Part 4) Read More »
If you are in the agriculture business, chances are you have invested in real estate. Whether your business is looking to diversify some agricultural land holdings, or you are selling real estate for other needs, the tax consequences can be quite significant. Thankfully, a little relief is offered through tax-deferred exchanges of real estate.
A little relief through tax-deferred exchanges of real estate Read More »
If your business has multiple owners, a shareholder buy-sell agreement is essential. Though buy-sell agreements are ideally set up at the formation of a business, it may be beneficial to revisit the agreement to ensure that the current structure is still the best method for all shareholders.
Revisiting and updating the buy-sell agreement Read More »
In many cases, farmers are not only in the business of agriculture, they are in the business of family. Many farms are driven by a family effort, with children learning the ropes as they grow up. The average age of farmers in Florida is 57, only a few years shy of the average retirement age.
Keeping it in the family: Succession planning for farmers Read More »
