At succession, income tax can surprise farm families more than estate tax. Learn how selling paid-off equipment can trigger depreciation recapture, while a basis step-up can reset the tax value of inherited assets.
Marc and Craig Kielburger are working through Legacy+, their new venture, and sharing conversations about service and the impact people leave behind. They are part of My Legacy, a podcast with Martin Luther King III and Arndrea Waters King
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Many farm families worry about estate tax, but the bigger bill may come from income tax when the farm changes hands. Learn how depreciation recapture on paid-off equipment and a basis step-up can affect what heirs owe.
Marc and Craig Kielburger now lead Legacy+, which works with organizations on social impact and leadership. They also host the *My Legacy Podcast* with Martin Luther King III and Arndrea Waters King, exploring how people shape the mark they leave behind
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Farm families often expect estate tax to be the big succession cost, but income tax can hit harder. Learn how depreciation recapture on equipment and the tax-value reset heirs get when they inherit assets can change the bill before the farm changes hands.
Marc and Craig Kielburger are building Legacy+, hosting the My Legacy Podcast with Martin Luther King III and Arndrea Waters King, and preparing their next book, due in November 2026.