Monthly Archives: December 2012

Dec 13

526,421 family farms could be threatened by reversion of estate tax

Posted on by

According to an article by the Washington Examiner, the reversion of the Federal Estate Tax to a lifetime exemption amount of $1,000,000 will affect 526,421 family farms, or about 25% of farms in America. The reversion of the estate tax is set to take place on January 1, of next year, less than three weeks from today, unless steps are taken by Congress and the President.

For farms, the affect of the estate tax is further reaching than most other assets. From my experience in the estate planning field, this comes from two different considerations than what most other estates face. The first is that much of the value of farms is tied up in land. It is not uncommon here in southwestern Oklahoma for the land value to make up over 50% of a decedent’s estate value. In areas where land prices are much higher, the percentage can easily surpass 80%. When estate taxes are due, in cash, in nine months from the date of death, that often means children of farmers must sell the land.

The second major effect the estate tax has on farms is the lack of ability to pass the farm as a business to the younger generation. With agriculture, less than 2% of the U.S. poplulation feeds the rest. I have implemented many estate plans where only one child out of many want the farm. If that one child must come up with cash to buyout siblings and pay estate taxes, then his dream of continuing the family legacy is easily lost.
Drink sufficient water This is the best viagra order canada natural cure for erectile dysfunction. Being good people, healthy and successful were consistently on the list and thus the tadalafil 5mg buy value of emotional and social skills must be recognized and integrated into our education systems. The contents of the DVD’s also allow users to have a bigger [url=  Penis [/url]? Many men are using these pills viagra viagra online for the treatment of erectile dysfunction are very happy and satisfied than they were before the usage of these tablets. An intake of 1 pill consider a minimum dosage of one or two pills, twice daily with milk, for a healthier you. order tadalafil
Steps can be taken to lower the effect of the estate tax on family farms. If you are in the Altus, Oklahoma area and would like to come in for a free consultation to see what can be done for your specific situation, then please call me at 580-318-8829.

“The failure to plan is a plan for failure.” Don’t be caught unprepared in 2013 when estate tax rates spike to rates up to 55%.

Dec 12

IRS has Issued Proposed Regulations on Additional Medicare Tax

Posted on by

A new Additional Medicare Tax goes into effect starting on January 1, 2013. The 0.9% surtax applies to an individual’s wages, Railroad Retirement Tax Act compensation, and self-employment income that exceeds a threshold amount based on the individual’s filing status.

The Threshold Amounts are: $250,000 for married joint filers, $125,000 for married separate filers, and $200,000 for all other taxpayers.

Andropause is another profound side effects cialis view that journey which needs the positive involvement of the family. This makes people not to bother about other activities to perform while taking any sort of medicines like taking glass of water. 15 minutes is the minimum time that a person can start to get the effects on the penis whereas maximum time frankkrauseautomotive.com online levitra limit that this medication is considered to bring effect on penis is 30 minutes approximately. Today! Many women are trying to http://frankkrauseautomotive.com/testimonial/referred-by-a-friend/ viagra 100 mg get pregnant successfully for women, which is expelled from ovary. All areas undergoing the assessment will be identified and rated for safety, as part of viagra pills from india the ergonomic risk assessment. An employer is responsible for withholding the Additional Medicare Tax from wages or compensation it pays to an employee in excess of $200,000 in a calendar year.

If you would like more information, or would like to comment on the proposed regulation, you can access the website at https://www.federalregister.gov/articles/2012/12/05/2012-29237/rules-relating-to-additional-medicare-tax

Dec 10

IRS has issued proposed regulations on Net Investment Income Tax

Posted on by

The new Net Investment Income Tax goes into effect starting in 2013. It is the part of the Affordable Care Act (Obamacare) which adds a 3.8% surtax on individuals, estates and trusts that have certaing investment income above threshold amounts. These amounts are set to be $200,000 for single filers and $250,000 for married, joint taxpayers. For trusts and estates, the 3.8% surtax will apply to the highest tax bracket, which will be reached at $7,500 in taxable income.

Another large proposal within the Regulation is the imposition of “mark to market” on non-traders. Put simply, this would cause most passive investors to lose the ability to ever accumulate capital gains. The mark to market rule would require recognition of gain or loss on all investment holdings at the end of each year.
This is one of the effective rheumatism remedy. * Raw potato juice is an excellent home remedy for rheumatism. * Morpheme Arthcare Capsules are also recommended buy cialis online try this page now as these cheap online drugs will enhance your sexual energies and make you feel better. Despite the meticulous attention and training cialis soft canada that athletes take, they experience musculoskeletal injuries. REQUIREMENTS: Height: No particular height requirement (depends on client or print publication)Weight: One must be extremely fit and height/weight free samples of viagra propotionate. According to them, the vast majority of men who suffer from this problem. levitra 20 mg glacialridgebyway.com
If you have more interest, or if you would like to comment on the Regulation, the website is https://www.federalregister.gov/articles/2012/12/05/2012-29238/net-investment-income-tax#h-20 for the Proposal.

Dec 09

As we face mounting taxes, regulation and loss of work force…

Posted on by

Our Secretary of Agriculture goes on TV and states that rural America is losing its relevancy. When talking about why there has not been passage of a farm bill, a policy that is usually widely supported by both major parties, he states, ”It’s the fact that rural America with a shrinking population is becoming less and less relevant to the politics of this country, and we had better recognize that and we better begin to reverse it.”

With this statement, we can see how the person who is supposed to represent the farm and ranch interest has removed himself away from the community he is appointed to serve. The rural community has lost its voice in the government process (because of representatives like Vilsack), but it is still relevant as the leading producer of food in the world.

Probably the most grating part of Vilsack’s speech is where he blames producers, through their efforts to stop regulations, for the lack of “relevancy” with the wider population. Perhaps if we, in rural Oklahoma and America, stop producing affordable, safe food, we may become relevant to our ruling class, but until then, we will only be taken for granted.

For those, who cannot boast such results, cheap prices for viagra is an alternative opportunity to feel young.It would be wrong to say the Erectile Dysfunction is inevitable in old age. In addition, it has natural anti-bacterial properties that combat the buy cialis odor-causing bacteria responsible for a smelly penis. Do not do one uk viagra online thing simply for pleasing your partner if it makes you feel uncomfortable. They must understand that maintaining cialis levitra price good urological health is really very important for their overall well-being. A good comparative example I heard this past week was, essentially, “Do you really appreciate all the effort put into producing electricity, so that when you walk in a room and flip the light switch and the lights go on, you stand there in awe? We never do. It is an expectation where most cannot even name the actual power plant where their electricity is produced. The same is true for the general population with respect to walking into a supermarket; they simply do not know where the food comes from and most do not care.”

The last thing that I want to conclude this post with is that if the US Secretary of Agriculture can misspeak and say that agriculture is no longer relevant to the American way of life, then think of the majority of the ruling class. People hold grudges and the easiest way for Congressmen to retain their power is to please the people who have the most votes, which is no longer agriculture. In addition, the Senate and Presidency, overwhelmingly lost the rural vote. I would say that each rural citizen needs to get their tax and estate planning in order, because the rules will change and you need to be prepared.

As Hank Williams, Jr. said, “A country boy can survive,” but he needs to remember the Boy Scout motto of be prepared for anything.