TAXES: Saving the Family Farm

With an eye on the farm vote, President Ford last week proposed a major change in U.S. estate-tax rules. Purpose: to protect farm families and owners of small businesses from having to sell their properties in order to pay stiff federal inheritance taxes. Ford's plan, unveiled in a speech to the American Farm Bureau Federation in St. Louis, would apply to estates valued at $300,000 or less that consist of at least a 20% share in a farm or small business. The heir to such an estate would not have to begin paying estate taxes until five years after...

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