When it comes to passing the farm down to the next generation, capital gains taxes can pack a punch. Farmland that's appreciated over decades could trigger a hefty tax bill if it's sold or transferred without the right planning. That’s why understanding capital gains is a key part of farm succession. Extension Farm Management Specialist Kelly Wilfert says agriculture welcomed a provision in the federal budget that spreads out capital gains payments.  

When it comes to passing the farm down to the next generation, capital gains taxes can pack a punch. Farmland that's appreciated over decades could trigger a hefty tax bill if it's sold or transferred without the right planning. That&rsquo;s why understanding capital gains is a key part of farm succession. Extension Farm Management Specialist Kelly Wilfert says agriculture welcomed a provision in the federal budget that spreads out capital gains payments. &nbsp;

Join Pam Jahnke for the latest farm news. Heard daily on WOZN 96.7 FM and 1670 AM in Madison Wisconsin from 5-6am. Also heard on affiliate stations all over Wisconsin.

Join Pam Jahnke for the latest farm news. Heard daily on WOZN 96.7 FM and 1670 AM in Madison Wisconsin from 5-6am. Also heard on affiliate stations all over Wisconsin.

MID-WEST FARM REPORT - MADISON

Daily audio and podcasts from the Mid-West Farm Report Madison!

Daily audio and podcasts from the Mid-West Farm Report Madison!