Taxes shouldn’t decide the future of your farm. We sit down with Jody Robinson, VP of Tax Planning at Mariner Wealth Advisors, to unpack how the so-called “Big Beautiful Bill” changes the game for landowners and the families who depend on them. From estate tax thresholds to capital gains strategies, we break down what actually matters when the goal is to keep acres in the family and options open.
We start with the bigger picture: how a higher, now “permanent,” federal estate tax exemption buys time and clarity for long-range planning, and why state-level rules can still spring surprises. Jody explains the step-up in basis in plain English and shows how it erases decades of appreciation for heirs, often preventing forced sales at the worst possible time. Then we pivot to active moves: 1031 exchanges to keep gains deferred and capital working, Qualified Opportunity Zones for an alternate deferral path, and portfolio tactics like tax-loss harvesting to soften the blow when sales are necessary.
Operators get a timely walkthrough of bonus depreciation’s return to 100% for qualifying assets such as equipment, irrigation, and grain bins. The upside is immediate cash flow relief; the catch is potential depreciation recapture when you sell. Jody lays out how to time purchases, align hold periods, and avoid trading short-term relief for a bigger tax bill later. We also dive into titling choices—individual, joint, trust, or entity—and how they affect control, transfer, and taxes. Finally, we tackle gifting versus inheriting: when lifetime gifts support continuity for an on-farm heir, and when waiting for inheritance preserves a step-up in basis for those likely to sell.
If you want a practical roadmap—clear steps, real trade-offs, and fewer landmines—this conversation delivers. Subscribe, share with someone planning a transition, and leave a review with your top tax question so we can cover it next.
Follow at www.americalandauctioneer.com and on Instagram & Facebook
Contact the team at Pifer's