Farms and ranches are often composed of multiple, separately deeded parcels with varying cost basis figures. When selling a farm or ranch, it is often wise to consider a 1031 exchange for part of the sale and to take cash out of the sale for diversification and liquidity purposes. An effective tax-saving strategy is to obtain separate buy-sell agreements on each parcel and to exchange the low-basis parcels and to take cash out of the high basis parcels. By working in conjunction with your CPA, we can help you implement this tax-saving strategy.