June 2016 - Pinion

Feeling charitable? Use a charitable remainder trust to gift commodities or equipment

January 17, 2023June 28, 2016 by Doug Mitchell

Reading Time: 2 minutes

If you are charitably inclined, thinking about selling your crops, livestock, equipment or retiring from farming altogether and interested in deferring the income tax on the sale of those assets you should be considering a charitable remainder trust (CRT). Here’s how it works. First, work with an advisor to create …

Colorado income tax deduction created for leasing agricultural assets to new farmers

August 8, 2023June 27, 2016 by K·Coe Editorial

Reading Time: 3 minutes

Colorado Income Tax: Deduction Created for Leasing Out Agricultural Assets Colorado Gov. John Hickenlooper has signed legislation creating a corporate and personal Colorado income tax deduction for taxpayers that lease an agricultural asset, which is defined as “land, crops, livestock, livestock facilities, farm equipment, grain storage, or irrigation equipment,” to a beginning …

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