The One Big Beautiful Bill made many of the 2017 tax provisions permanent. “So our estate tax limits for this year are $13.99 million per person, so a married couple gets two of those and we still have portability, where we can use our spouse’s unused exemption,” said Bobbi Sondreal, succession and retirement planning consultant, AgCountry Farm Credit Services. “For 2026 and beyond, it is $15 million indexed for inflation.” Tax changes in the budget reconciliation bill also increased the deduction on equipment, drain tile, grain bins and multi-purpose buildings to 100 percent. Sondreal and AgCountry tax specialist Dane Larsen presented tax implications during the retirement and succession process. Watch the video.
