Farmland sales brisk because of tax law changes - KSFY News - Sioux Falls, SD News, Weather, Sports

Farmland sales brisk because of tax law changes

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DENVER, Iowa (AP) - Farmland sales are happening at a brisk pace this fall partly because farmers are worried about the tax increases that may take effect Jan. 1 if Congress can't address the fiscal cliff.

The worries about possible increases in capital gains and estate taxes are adding to the normally busy time for farmland sales after harvest in Iowa and Nebraska.

Des Moines lawyer Bill Hannigan of the Davis Brown firm says that anyone thinking of selling farmland should do so before the end of 2012.

Jim Hain, vice president of agricultural sales for Omaha-based Lund Co., says his firm is the busiest it has been with farmland sales. He says the possible tax law changes and the current high prices have prompted more people to sell.

 

 

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