https://www.msn.com/en-us/news/us/biden ... d=msedgntp
You should be able to land swap, tax free.
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Biden Tax Plan is BS!
- audiophile
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Biden Tax Plan is BS!
Ask not what your country can do FOR you; ask what they are about to do TO YOU!!
Re: Biden Tax Plan is BS!
Not a fan of this 'tax plan' at all, but the 1031 should be eliminated along with a lot of other provisions in the effort to simplify the tax code.
- MWmetalhead
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Re: Biden Tax Plan is BS!
How often do farmers swap land? Most farmers around here farm on the same land for generations. I don't see much in the way of land swapping - i.e. abandoning & selling once parcel to move shop to another parcel.
I'd be curious to know from those directly or indirectly involved in farming if the Senator's illustrative example is indeed a realistic example.
I could see this being a more relevant issue for ranchers, perhaps.
The Biden Tax Plan does indeed have many flaws (the proposed steep hike in the capital gains tax is a terrible idea), but the senior Senator from Arkansas picked a seemingly unlikely example on which to base his argument.
I'd be curious to know from those directly or indirectly involved in farming if the Senator's illustrative example is indeed a realistic example.
I could see this being a more relevant issue for ranchers, perhaps.
The Biden Tax Plan does indeed have many flaws (the proposed steep hike in the capital gains tax is a terrible idea), but the senior Senator from Arkansas picked a seemingly unlikely example on which to base his argument.
Paul Woods reminds me a bit of the Swedish Chef from the Muppets when he speaks!