To: Eric in the Ozarks
Warren eats up family owned businesses that must be sold to pay estate taxes. Hypocrite
Be real here, most small family businesses are sold because the kids don’t want to continue the business.
14 posted on
11/14/2007 10:57:28 AM PST by
PeterPrinciple
( Seeking the truth here folks.)
To: PeterPrinciple; Eric in the Ozarks
Be real here, most small family businesses are sold because the kids dont want to continue the business. Peter's right. The U.S. tax code was amended a while back to allow farms to be passed on to heirs without being subject to estate taxation. The only stipulation is that the property must continue to function as a farm for a certain period of time. But most of them get sold off anyway because the heirs are not interested in running the family business like their parents did.
49 posted on
11/14/2007 11:29:29 AM PST by
Alberta's Child
(I'm out on the outskirts of nowhere . . . with ghosts on my trail, chasing me there.)
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