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 - Horsepower Defined - by Staff. Indicated Horsepower This represents the power developed in the enine cylinder as obtained from the pressure in the cylinders. This is pressure obtained from an indicator which shows cylinder pressures. Indicated horsepower does not represent the actual useful power delivered by the engine. Brake Horsepower This is the actual horse power delivered by the engine to the shaft. It is equal to the "indicated horsepower" less the friction of the engine. It is useful hor
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