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Ask the Taxman by Andy Biebl
Andy Biebl DTN Tax Columnist
Mon Jul 7, 2014 01:17 PM CDT

DTN Tax Columnist Andy Biebl is a CPA and principal with the accounting firm of CliftonLarsonAllen LLP in New Ulm and Minneapolis, Minn., and a national authority on agricultural taxation. He'll address more detailed tax strategies for retirement at an Ag Summit workshop in Chicago Dec. 7 www.DTNAgSummit.com. To pose questions for upcoming columns, email AskAndy@dtn.com.

QUESTION:

In one of your recent columns about farm tax planning, you discussed a couple retiring from farming without heirs and looking to dispose of $750,000 of machinery to a young neighbor. You explained that a sale was taxed immediately, and the only option ...

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