Category Archives: Tax Issues

AFPC Analyzes Proposed Tax Change Impact on Representative Farms

The Agricultural and Food Policy Center at Texas A&M University recently released a report looking at the likely impacts of proposed changes to the estate and capital gains taxes. [View Report here.]  Specifically, the report analyzed the impact that changes to the lifetime exclusion for estate taxes and the elimination of the stepped up basis for capital gains taxes would have on the AFPC’s 94 representative farms.  The results were clear in showing that for the representative farms, the proposed policy changes would greatly increase tax liability. Estate… Read More →

Talking Taxes: Capital Gains Tax

Today, we are wrapping up our three-part blog series, Talking Taxes.  Be sure you didn’t miss our prior posts on the estate tax and gift tax.  Today, we will tackle the topic of capital gains taxes. I’ll offer the same two disclaimers as I have on the prior posts in this series.  I am not a tax lawyer, CPA, or accountant.  I’m here to offer just basic information, but highly recommend that you consult with your attorney and tax professional for further advice or clarification.  Second, there has… Read More →

Talking Taxes: Gift Tax

Today, we will continue our three-part Talking Taxes series with a discussion of the federal gift tax.  If you missed our first post discussing the estate tax, click here. As I did last week, I want to offer two disclaimers.  The first is that I am not a CPA or an accountant.  I’m here to offer just basic information, but highly recommend that you consult with your attorney and tax professional for further advice or clarification.  Second, there has been a lot of talk from Washington, DC, about… Read More →

May 21, 2021 Weekly Round Up

Welcome to Friday! I hope everyone has fun weekend plans.  I will be running a Dinosaur 5K with my kids tomorrow, so we will see how Mama survives with a 4 and 5 year old in tow! Here are some of the biggest ag law stories in the news over the past couple of weeks. *Potential tax policy changes cause concern.  President Biden’s administration has indicated there may be policy changes related to capital gains taxes that have caused concern for many agricultural groups. In particular, President Biden’s… Read More →

Talking Taxes: Estate Tax

Today, we will kick off a three-part series called Talking Taxes.  We are going to focus on three federal taxes that arise frequently for farm and ranch families when it comes to estate planning: the estate tax, the gift tax, and the capital gains tax. I want to offer two disclaimers.  The first is that I am not a CPA or an accountant.  I’m here to offer just basic information, but highly recommend that you consult with your attorney and tax professional for further advice or clarification.  Second,… Read More →

May 7, 2021 Weekly Round Up

Happy May!  Here are a few of the ag law stories in the news over the past couple of weeks.   *Three laws every rural landowner in Texas should know.  I recently chatted with Texas Standard and offered three key laws I think that every rural landowner should know.  See what made my list here. *President Biden mentions exception for farms in proposal to increase capital gains taxes and do away with stepped up basis.  There have been numerous articles discussing President Biden’s proposal to increase the capital gains… Read More →

April 23, 2021 Weekly Round Up

Happy Friday!  It’s sure been a week around here.  I hope we all get some rest this weekend. Here are some of the ag law stories in the news the past couple of weeks. *Important property tax deadlines coming up for rural Texas landowners.  Many property tax deadlines are coming up, requiring that paperwork be submitted by rural landowners to County Appraisal Districts before May 1.  This includes the deadline to submit an open space valuation application and a wildlife management valuation application.  Keep in mind, anyone who… Read More →

March 12, 2021 Weekly Round Up

Happy Friday!  We’re back with some more of the ag law stories in the news over the past couple of weeks. * Bill would modify Texas Farm Animal Liability Act to ensure applicability to working ranches.  You may remember last year that the Texas Supreme Court issued a ruling in Waak v. Zuniga holding that the Texas Farm Animal Liability Act does not apply if the injured party is a rancher or ranch hand. [Read prior post here.]  There are a couple of bills in the Texas Legislature seeking… Read More →

Case Illustrates Important Rule When Protesting Property Taxes

In March of this year, the First Court of Appeals in Houston issued an opinion in Grimes County Appraisal District v. Harvey, which is a good illustration of an important legal requirement for persons protesting actions of an appraisal district related to property taxes. Background James Harvey owns 91 acres in Grimes County.  For the 2015 tax year, the property received agricultural use valuation and the tax bill was $138.13, which Mr. Harvey paid.  In early 2016, the Grimes County Appraisal District (GCAD) sought a re-application from Mr…. Read More →

June 14, 2019 Weekly Round Up

It’s been a busy couple of weeks in the world of agricultural law.  I want to welcome those of you who I met at speaking events for the Hill Country Cattle Women in Fredericksburg and the Owning Your Piece of Texas Ag Law Workshop in San Antonio.  If you’d like to see an article  and short video about our Owning Your Piece of Texas program, click here. Here are some of the major ag law stories in the news over the past two weeks. *Lawsuit filed against US… Read More →