Agreed. That step up in basis can be a HUGE deal. The company I work for right how has been in existence since the 1950s. The land the company sits on only has a basis of $10,000 but has a market value of well over $800,000 (the city has grown up around us). To sell it we are looking at depreciation recapture on the buildings and capital gains taxes on the remainder. Selling it will cost us well over $200,000. We won't move because of the taxes.
I know some people will say "My kids will never sell it" but things change. Someday the federal government (or state or county) says we are taking the property through eminent domain or you can sell willingly for this price or the neighbor across the road puts in a 1,000 sow farrowing house.
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Today's Featured Article - The Nuts and Bolts of Fasteners - Part 2 - by Curtis Von Fange. In our previous article we discussed capscrews, bolts, and nuts along with their relative hardness and thread sizes. In this segment we will finish up on our fasteners and then work with ways to keep them from loosening up in the field. Capscrews, bolts and nuts are not the only means of holding two parts together. When dealing with thinner metals like sheet tin, a long bolt and
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