Category Archives: Tax Issues

Consider the Risks When Taking a Residual Fertility Deduction

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Around the country, there has been much recent discussion about taking a “residual fertility deduction” for farm and ranchland.  What is this?  How does it work?  What requirements exist? I recently co-authored an article for Southern Ag Today answering these questions with Kristine Tidgren from the Center for Agricultural Law and Taxation at Iowa State University.  You can read our article here. Additionally, if you want to take a deeper dive on this topic, I did a podcast episode with Kristine and Dario Arezzo from Farm Credit East… Read More →

Permanent Increase to Estate Tax Lifetime Exemption

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Anytime I do an estate planning presentation, the topic of the federal estate tax is one on the minds of many in the audience.  In July, the One Big Beautiful Bill Act included an important provision permanently increasing an individual’s lifetime exemption to $15 million. Today, we are going to just hit the high notes of the estate tax and the change to the law included in the One Big Beautiful Bill.  For more information on the estate tax, click here for a podcast episode I did with… Read More →

2025 Federal Estate and Gift Tax Limits

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Recently, the Internal Revenue Service (“IRS”) announced the 2025 estate and gift tax exemption amounts.  Generally speaking, these amounts change slightly each year, and are an important consideration in a person’s estate planning process. Background As we have discussed numerous times on this blog and our Ag Law in the Field Podcast, Congress sets an amount of assets that a person is allowed to give during their lifetime or at death without incurring estate or gift tax liability. This is known as the lifetime exemption.  The IRS adjusts… Read More →

December 6, 2024 Weekly Round Up

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The year may be winding down, but the ag law news is not!  Let’s get caught up. * Corporate Transparency Act reporting put on hold by injunction.  On Monday, we published our blog post reminding you of the upcoming beneficial ownership reporting deadline under the Corporate Transparency Act.  On Tuesday, a federal judge issued a nationwide injunction pausing the law and the deadlines after finding it likely that plaintiffs would succeed on the merits of their lawsuit.  [Read Order here.]  You have to admit, ag law is exciting! *Brooke… Read More →

September 27, 2024 Weekly Round Up

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Happy Friday!  It has been a whirlwind of a month around here.  Thank you to those of you who I have seen on the road at in person presentations–it has been fun getting to connect face-to-face with so many readers. There has been a lot of news on the agricultural law front. * Lawsuit filed against Tyson “climate smart beef” claims. The Environmental Working Group has filed suit claiming that Tyson’s marketing “climate friendly” beef is misleading consumers.  Tyson sells some beef with a “climate smart” label and has… Read More →

March 29, 2024 Weekly Round Up

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We’ve made it through another week and have another long list of ag law news from around the country! *Avian influenza found in dairy cows in Texas and Kansas and goat in Minnesota.  State agencies announced this week that a disease found in some dairy cows in Texas and Kansas was identified as highly pathogenic avian influenza (HPAI).  A goat in Minnesota on a farm where chickens had the virus also recently tested positive as well.  The USDA believes the source of HPAI at the dairies is migratory… Read More →

January 5, 2024 Weekly Round Up

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Hello and Happy New Year!  We’re back with our first Ag Law Weekly Round Up of 2024.  Here are some of the biggest ag law stories in the news over the past few weeks. *State of Texas responds in Tofurkey lawsuit challenging meat labeling law.  You may recall our Thanksgiving blog post highlighted a lawsuit challenging Texas’ new labeling law requiring analogue, plant based, and cell-cultured meat to be labeled in the Lone Star State.  The State of Texas has now filed a Motion to Dismiss in that… Read More →

Transferring the Over-65 or Disabled Property Tax Exemption

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Dr. Blake Bennett and I co-authored a fact sheet on an important, but not widely known, concept related to property taxes. Most people are familiar with the over-65 exemption and the disabled exemption for property taxes, which allows for an additional $10,000 homestead exemption for school district taxes.  Additionally, the over-65 exemption and the disabled exemption freeze the value of the homestead for school tax purposes a the dollar value when the person initially claimed this additional exemption on their homestead.   The market value can continue to increase… Read More →

January 27, 2023 Weekly Round Up

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The year started out with a bang and has not slowed down yet!  Here are some of the ag law stories in the news over the past couple of weeks. *USFWS extends effective date for lesser prairie chicken listing.  The USFWS is delaying the effective date of the lesser prairie chicken listing for 60 days until March 27, 2023.  [Read article here.] *APHIS proposes electronic identification rule for certain cattle crossing state lines.  The USDA Animal and Plant Health Inspection Service (APHIS) has issued a proposed rule that would… Read More →

December 2, 2022 Weekly Round Up

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Happy December! We are back with a number of updates for you with regard to agricultural law news around the country. *Lesser prairie chicken listed under Endangered Species Act.  On November 17, the US Fish and Wildlife Service issued a press release that it will be listing the lesser prairie chicken as threatened in the northern distinct population segment (including areas in southeastern Colorado, southcentral and western Kansas, western Oklahoma, and the northeastern Texas Panhandle.) and endangered in the southern distinct population segment (including areas in eastern New… Read More →