Butch - when I bought my family farm back in 1995 from my parents, the attorney/tax advisor set it up as a installment contract sale spread over 2 years (1995 and 1996). Just splitting the payment in two knocked the the tax impact down a tax bracket or two for my parents. The gain was very high given their cost basis being so low given how long they owned it. One payment was the last few days of 1995 and the other the first few days of 1996 so not a big impact cash flow wise for my mom. She used the proceeds it to buy a house in town a few months later.
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Today's Featured Article - Grain Threshing in the Early 40's - by Jerry D. Coleman. How many of you can sit there and say that you have plowed with a mule? Well I would say not many, but maybe a few. This story is about the day my Grandfather Brown (true name) decided along with my parents to purchase a new Ford tractor. It wasn't really new except to us. The year was about 1967 and my father found a good used Ford 601 tractor to use on the farm instead of "Bob", our old mule. Now my grandfather had had this mule since the mid 40's and he was getting some age on him. S
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