A nationally recognized expert on taxation, estate planning, business planning and agricultural law, Dr. Neil Harl, emeritus professor of agriculture and economics at Iowa State University, recently released the newest version of his most popular book, Farm Estate and Business Planning. This is the 19^th edition; the first edition was published in 1973.

EXPERTISE: A distinguished ISU professor of economics, Dr. Neil Harl is an authority on taxation, estate planning, business planning and agricultural law. He is a member of the Iowa Bar. After 43 years of service on the ISU faculty, he is retired from the university but continues to present at seminars and work in private practice.

This 510-page soft cover book is an excellent guide for farmers and ranchers who want to make the most of the state and federal income and estate tax laws to assure the least expensive and most efficient transfer of  their estates to their children and heirs, says Harl. This book contains detailed advice on assuring worry-free retirement years, using wills, trusts, insurance and outside investments as estate planning tools, ways to save on estate settlement costs and federal estate tax, as well as suggestions for avoiding arguments and friction in the family.

Book is written in an easy-to-read and understand style

The new version of the book updates the 26 chapters with recent developments in farm and ranch business planning since the 18^th edition was published in 2014. The book is written in easy-to-read language and is designed for use by farm and ranch families.

Harl has received numerous awards as a scholar and teacher who has provided distinguished service to agriculture. He is also the author of the 14 volume treatise, Agricultural Law, and the 2-volume Farm Income Tax Manual, the one volume Agricultural Law Manual and over 800 articles on ag law. He is author of the tax management portfolio: Harl, Taxation of Farm Income.

Comprehensive, practical understanding of major ag tax issues

Harl’s newly updated Farm Estate and Business Planning book also includes discussion of employment taxes, formation and advantages of use of business entities, federal farm payments, state laws on corporate ownership of farmland, federal gift tax law, annuities, installment obligations, charitable deductions, all with an eye to the least expensive and most efficient transfer of the farm to heirs.

Also covered are planning options for dealing with unwanted C corporations; discounting values of farmland during life and at death; the unearned income Medicare contribution (the 3.8% tax); effects of the Agricultural Act of 2014 (2014 Farm Bill); and dealing with “powers of appointment” in wills and trusts.

Nearly 177,000 copies of the book, which traces its history back to the first edition in 1973, are in circulation.

Available in print and PDF files, and readable on all digital devices

Now retired from the Iowa State University faculty after 40-years of service, Dr. Harl holds a law degree from the University of Iowa and a bachelor’s degree and Ph.D. in economics from ISU. He is the author of 29 books and more than 450 publications in legal and economic journals and bulletins as well as more than 1,000 in farm and financial publications. Neil Harl has made more than 3,400 presentations in 43 states and 17 foreign countries and has received more than 30 major awards during his long career at Iowa State.

New for the 19th Edition, the book is available in print and PDF files, and is readable on all digital devices. The book can be purchased at www.agrilawpress.com and Amazon.com. Orders are also accepted by emailing [email protected] or by calling 360-200-5666.

For farm management information and analysis visit ISU's Ag Decision Maker site extension.iastate.edu/agdm; ISU Extension farm management specialist Steve Johnson's site is at extension.iastate.edu/polk/farm-management.