{"id":246594,"date":"2025-05-19T02:34:20","date_gmt":"2025-05-19T02:34:20","guid":{"rendered":"https:\/\/peraltafinancing.com\/agriculture\/the-latest-on-the-federal-estate-tax\/"},"modified":"2025-05-19T02:34:20","modified_gmt":"2025-05-19T02:34:20","slug":"the-latest-on-the-federal-estate-tax","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=246594","title":{"rendered":"The Latest on the Federal Estate Tax"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/i0.wp.com\/thefarmersdaughterusa.com\/wp-content\/uploads\/2018\/12\/calderdale-clouds-countryside-54094.jpg?ssl=1\"><img loading=\"lazy\" data-recalc-dims=\"1\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/i0.wp.com\/thefarmersdaughterusa.com\/wp-content\/uploads\/2018\/12\/calderdale-clouds-countryside-54094.jpg?resize=1024%2C683&amp;ssl=1\" alt=\"\" class=\"wp-image-6960\" srcset=\"https:\/\/i0.wp.com\/thefarmersdaughterusa.com\/wp-content\/uploads\/2018\/12\/calderdale-clouds-countryside-54094.jpg?resize=1024%2C683&amp;ssl=1 1024w, https:\/\/i0.wp.com\/thefarmersdaughterusa.com\/wp-content\/uploads\/2018\/12\/calderdale-clouds-countryside-54094.jpg?resize=300%2C200&amp;ssl=1 300w, https:\/\/i0.wp.com\/thefarmersdaughterusa.com\/wp-content\/uploads\/2018\/12\/calderdale-clouds-countryside-54094.jpg?resize=768%2C512&amp;ssl=1 768w, https:\/\/i0.wp.com\/thefarmersdaughterusa.com\/wp-content\/uploads\/2018\/12\/calderdale-clouds-countryside-54094.jpg?resize=600%2C400&amp;ssl=1 600w, https:\/\/i0.wp.com\/thefarmersdaughterusa.com\/wp-content\/uploads\/2018\/12\/calderdale-clouds-countryside-54094.jpg?w=2000&amp;ssl=1 2000w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"\/><\/a><\/figure>\n<p>Benjamin Franklin\u00a0<a href=\"https:\/\/constitutioncenter.org\/blog\/benjamin-franklins-last-great-quote-and-the-constitution\" target=\"_blank\" rel=\"noreferrer noopener\">famously said<\/a>, \u201cIn this world, nothing is certain except death and taxes.\u201d The Founding Father didn\u2019t know it then, but sometimes those two constants happen in quick succession.<\/p>\n<p>For farm families, estate taxes aren\u2019t just an abstract policy debate \u2014 they\u2019re a very real threat to generational farms and the livelihoods they support. While tax policy tends to fly under the radar for most people, recent developments out of Washington, D.C., are once again putting the federal estate tax front and center, especially for the agricultural community.<\/p>\n<p>This time the story starts with the\u00a0<a href=\"https:\/\/www.law.cornell.edu\/wex\/tax_cuts_and_jobs_act_of_2017_(tcja)#:~:text=For%20individual%20tax%20deductions%2C%20the,35%25%2C%20and%2037%25.\" target=\"_blank\" rel=\"noreferrer noopener\">2017 Tax Cuts and Jobs Act<\/a>\u00a0(TCJA), which dramatically increased the federal estate and gift tax exemption. That exemption \u2014 essentially the amount of wealth a person can pass on without triggering the federal estate tax \u2014 was doubled under the TCJA. For 2024, that amount sits at $13.61 million per person, or $27.22 million for a married couple. But, as with many things in tax law, it came with an expiration date. When the calendar flips to January 1, 2026, the exemption will drop back down to its pre-TCJA levels, adjusted for inflation. That means a single person could pass on only roughly $7 million before the estate tax bill comes due.<\/p>\n<p>Continue reading at <a href=\"https:\/\/www.agdaily.com\/insights\/perspective-farmers-legacy-shouldnt-be-tax-nightmare-for-kin\/\">AGDAILY<\/a>.<\/p>\n<div class=\"signature\">\n<img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/demoblog2.jumpingjaxdesigns.com\/wp-content\/uploads\/2017\/01\/Signature.png\" alt=\"signature\"\/>\n<\/div>\n<p><!--<rdf:RDF xmlns:rdf=\"http:\/\/www.w3.org\/1999\/02\/22-rdf-syntax-ns#\"\n\t\t\txmlns:dc=\"http:\/\/purl.org\/dc\/elements\/1.1\/\"\n\t\t\txmlns:trackback=\"http:\/\/madskills.com\/public\/xml\/rss\/module\/trackback\/\">\n\t\t<rdf:Description rdf:about=\"https:\/\/thefarmersdaughterusa.com\/the-latest-on-the-federal-estate-tax\/\"\n    dc:identifier=\"https:\/\/thefarmersdaughterusa.com\/the-latest-on-the-federal-estate-tax\/\"\n    dc:title=\"The Latest on the Federal Estate Tax\"\n    trackback:ping=\"https:\/\/thefarmersdaughterusa.com\/the-latest-on-the-federal-estate-tax\/trackback\/\" \/>\n<\/rdf:RDF>-->\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>Benjamin Franklin\u00a0famously said, \u201cIn this world, nothing is certain except death and taxes.\u201d The Founding Father didn\u2019t know it then, but sometimes those two constants happen in quick succession. For farm families, estate taxes aren\u2019t just an abstract policy debate \u2014 they\u2019re a very real threat to generational farms and the livelihoods they support. While [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":246595,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12026],"tags":[4856,11558,5683,7356],"dealstore":[],"offerexpiration":[],"class_list":["post-246594","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-agriculture","tag-estate","tag-federal","tag-latest","tag-tax"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Latest on the Federal Estate Tax - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=246594\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Latest on the Federal Estate Tax - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"Benjamin Franklin\u00a0famously said, \u201cIn this world, nothing is certain except death and taxes.\u201d The Founding Father didn\u2019t know it then, but sometimes those two constants happen in quick succession. For farm families, estate taxes aren\u2019t just an abstract policy debate \u2014 they\u2019re a very real threat to generational farms and the livelihoods they support. 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