Selling Your Farm Property - Tax Implications to Consider

LeRoy Leenstra, CA - Tax Partner

LeRoy is a partner with over 17 years experience as a Chartered Accountant.  With over 10 years experience as a specialist in taxation, LeRoy focuses on the tax planning needs of owner-managed businesses, including incorporations, business purchases, family trusts, corporate reorganizations, and estate planning.  LeRoy has helped many clients deal with tax implications on selling their farm.  LeRoy has a number of years experience as a presenter and instructor with regard to income tax and agriculture related courses.

About the presentation

This seminar will interest farmers who are thinking of selling their farmland or farm business and are concerned about paying too much income tax. Whether you are looking to sell to unrelated parties or transfer the farm to the next generation, there are a number of issues and tax planning opportunities that should be considered before any deal is signed. Gain a better understanding of the issues and opportunities including how to use the lifetime Capital Gain Deduction, replacement property rules and potential rollover of farm assets to children to minimize income taxes.