The capital-intensive nature of agriculture, coupled with the unique income tax treatment of our industry requires both thoughtful and detailed technical planning as you ponder your next chapter.
Considering an exit from the farm or ranch can be just a little overwhelming. Not only do you have to think about who will take over and whether they are ready to do so, you have to analyze myriad financial and tax issues, assess your own mental readiness to let go, and perhaps even reach agreement with your significant other on what you will do with your “free” time. No wonder some people hang on too long!
Sourced through Scoop.it from: agfax.com
Ag business is no different from any other enterprise when it comes to exit solutions. We like the points in the article because they apply broadly to small and medium businesses.