July, 2009
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Farming Videos
I was in Walla Walla, Washington with my cousins yesterday. I helped them move their Case 4 Wheel Tractor and Case IH 2388 combine to get ready for wheat harvest. After doing that, we went to take a look at the green pea harvest that is just about to finish in the Walla Walla valley. […]
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Don’t Trade-in Equipment – Sell it Instead
As a tax advisor, I would normally tell my farm clients to always do a like-kind exchange on their farm equipment. This would normally result in trading-in an older piece of equipment for a newer one of higher value to defer the tax on the old farm equipment. However, for 2009, there are many cases […]
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Corn Coming out of our “Ears”
Many are calling the USDA Planted Acreage Report that came out this week “Bloody Tuesday” since the amount of corn acreage planted this year was much higher than what the trade was expecting. Even though there was a large amount of rain early in the Eastern Corn Belt, three of the Western Corn Belt states, […]
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Defer Your Land Sale into 2010 Today
My partner Scot and I have a 1031 exchange company that handles many tax-deferred exchanges each year. About this time of year I like to remind our clients that they may be able to sell their land or real estate for cash, yet defer paying the tax on the sale until 2011. Here is how […]