This morning, I read a quick story about renting farm land in South Dakota and the consequences of attempting to rent to friends or relatives below market value. The article talks about how the IRS might view any attempts to 'gift' rental land to family members through this method, and what might happen if the potential deal is audited.
Renting Land at a Fair Price in South Dakota - Tax Consequences?
About Swier Law Firm's Agricultural Law Practice Group
Swier Law Firm's Agricultural Law Practice Group handles the following types of agricultural law issues:
- Crop Insurance Disputes
- Business Planning
- Contracts
- Clean Air Act
- Environmental Law
- Estate Planning
- Insurance
- Leases
- Real Estate
- Taxation
- Water Law
- Preparing, Revising and Updating Farm Operation Governance and Compliance Materials, including Bylaws, Committee Charters, and Compliance Policies.
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