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Elimination of stepped-up basis poses hazards to family farms John Newton and Scott Gerlt Capital gains taxes are based on the change in the value of an asset, such as farmland, livestock or timber, when that asset is sold. Currently, the top capital gains tax rate is 20%. To reduce the capital gains tax, farmers and ranchers use stepped-up basis, which provides a reset for the basis during intergenerational transfers. In effect, upon the transfer of assets following a death, the basis is reset to the market value at the date of death. Following the adjustment, taxes can be levied only on gai...

Elimination of stepped-up basis poses hazards to family farms John Newton and Scott Gerlt Capital gains taxes are based on the change in the value of an asset, such as farmland, livestock or timber, when that asset is sold. Currently, the top capital gains tax rate is 20%. To reduce the capital gains tax, farmers and ranchers use stepped-up basis, which provides a reset for the basis during intergenerational transfers. In effect, upon the transfer of assets following a death, the basis is reset to the market value at the date of death. Following the adjustment, taxes can be levied only on gai...

Join the search for the person who lost class ring: Whit & Whimsey Updated Jan 01, 2021; Posted Jan 01, 2021 Is this ring from Brunswick, Ohio, and to whom does it belong? (Photo Courtesy of Dan Polk) Facebook Share BRUNSWICK, Ohio -- It’s a mystery. That was my conclusion after being contacted by Dan Polk about a class ring. Dan grew up in Brunswick and has lived in Medina for a long time. He told me he has a class ring that someone found some years ago. They gave it to him because they knew he was a Brunswick graduate and the ring was clearly from Brunswick and from 1942.