Posted on 08/20/2021 5:50:58 AM PDT by Red Badger
Because their 'art' is based on 'feelings' not intellect.
Think of it this way: How many 10 year old dentists are there? How many 8 year old nationally known brain surgeons? How many award winning 5 year old IT department heads? ZERO.
How many 10 year old actors? How many 12 year olds and younger academy awards winners? Bored actors and singers wanting childhood to go on forever - the promise of communism... but too stupid to see the reality of communism is different than the promo.
Songwriters, directors, producers, comedians are jobs requiring intellect so their less likely to fall for commie bs)
Then incorporate NOW.
This has been a risk for a long time.
Form a corporation, put most of the assets in the corporation, get a good lawyer, and follow the corporate law.
The days of Dad willing the farm to his kids died in the 90’s
This........................
If you sell below market value, you will be taxed according the the assessed and market value. Sometimes with penalties.
The old “I sold it to you for a dollar” shell game has been used for tax evasion for so long, the states have put in controls.
Then write the assessed value on the paperwork but exchange whatever amount you want. It would still be less than 40% inheritance tax.
Sort of the opposite of selling a car for $5k but writing $2k on the title to save on sales tax.
My family has owned/operate farms in this county since 1889. Some of the land has been held by family members for over 130 years. There is zero debt on it.
My father died at 95 in March. My brother and I inherited his holdings. The current value was a tiny fraction of the current Federal Income Tax threshold. But none of it will be sold.
If this is put in place. It will end 1/2 or more of the family farms in a 20 years span of time.
That is what the Globalist B-tards want.
It is called Confiscation. It is a Communist concept.
Remember? CCP Xi is the O’Biden’s master?
Get it yet?
Then when you leave your kids shares of Farm Inc. they will be subject to the death tax just as if you had left them shares of Apple. The only difference is calculating the value of Farm Inc. at time of death unlike traded stocks which have published prices.
Why should government get 40% of property at owner's death?
The state of Texas has no income tax and it has no state inheritance tax.
The issue is run away Federal Bureaucracy. Fixing that is the solution. The federal government already taxes everything to death.
It's TIME to DownSize DC!
Restore the Constitution!Size DC!
If it is immoral to take half a farm at the owner's death, how is it any less immoral to take other forms of wealth?
America needs a plan to deal with progressives......extermination.
The progressives are actually Euro thinkers, UK Labor loyalists gone amuck
There can be no co-existence, mandatory extermination is required
I don’t advocate special preference. I am simply stating that small businesses will be extinct if the Fed Gov monster has it’s way.
I made my living for 40 years doing business with independent businessmen. Was in the wholesale hardware distribution business with 2 privately help companies, most of my life.
I know how hard it is to survive in that.
You can inventory a business and estimate what it is worth.
It is much much harder to come to a fair value for farm land. The value is established by the market. What one is willing to pay for it. It is even more complicated when mineral rights are involved.
At what size should the government take your property. You have already been taxed on it. Confiscation is a Communist concept. Not a capitalist comcept.
Bump!
Stalin grins
No, it did not end in the 90’s.
My brother and I inherited my father’s 6 farms in March, when he died at 95.
He spent his entire life building it.
If you want a fight, just try to take it from us.
NUTS!
Key is make them members before Dad dies.
And make sure the corp assets are not the same as personal.
We did it, and for two generations there has been few major issues.
However, I do wonder what happens the next generation. Enough are “off the farm” where selling the assets starts to look attractive.
Yep. Stalin killed the Kulaks. Their crime? They were independent. Communist cannot allow that.
The Holodomor: Stalin’s Genocidal Famine that Starved Millions in the 1930s
100 YEARS ON AND THE PERSECUTION OF CAUCASOID CHRISTIANS CONTINUES
The last Saturday of November is Holodomor Day, which is a remembrance of the seven to nine million Ukrainian Christians that were murdered through starvation by Bolsjewik Communists, between 1932 and 1933. Please say a prayer for the poor souls who were not only murdered but the truth of their murders has been buried, along with their emaciated corpses.
(This is what Communist DO!)
It’s called the sell your farm to the PRCs act!
My first thought, as well!
but trusts do help eliminate some of the tax burden.
As far as I know, special use valuation is still in effect. But the condition is the heirs keep farming and not sell it.
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