Are you considering selling your Iowa farmland? With the looming increase in the capital gains tax rate, now may be the best time to just that.
The top capital gains tax rate will increase by a third on the first of the year, from 15 percent to 20 percent.
Iowa Land Sales is currently working with several clients with the same concerns associated with the impending tax increase in the long-term capital gains tax. If you’re considering selling farmland for any reason, due to the capital gains increase and the historical highs in the land market, now might be the right time to sell. If interested, contact us today for a marketing plan/proposal for your farm.
The complete news story is available from the Southeast Farm Press at Capital gains tax precludes farmers from passing the torch.