Build Back Better could make a comeback in the upcoming session of Congress and so could possible tax changes to pay for it. SDSU Extension Field Specialist Livestock Business Management Heather Gessner says they’re keeping a close eye on the developments in Washington D.C. because they would deal a major financial blow to farm and ranch families.
She says there is still fear of the estate tax exemption dropping from $12 million dollars to $5 million or less, the loss in stepped up basis, plus capital gains tax rates could be raised up to 45 to 65-percent.
Gessner says this makes legacy planning even more important and that’s the reason for the SDSU Extension Sustaining the Legacy Conferences.
Sessions will be held in Mitchell on January 11 and 12 and in Yankton on February 7 and 8. Industry experts will cover a wide range of legacy planning topics. You can register on the SDSU Extension events page.
