Farm Industry Trends
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Where’s Paul in January
This post provides information on where Paul Neiffer will be speaking in January.
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Glass Half-Full or Half-Empty
An article in Crop Life indicated that times may be tougher for farmers. We still view the glass as being half-full.
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Chapter 12 Gets a Boost
Chapter 12 is designed to help farmers get relief from debt, however, it had limits. A new law increases those limits.
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IRS Lists County Affected by Drought
The IRS released Notice 2019-54 that lists the counties affected by drought that will allow ranchers another year to defer their gain from selling livestock due to drought.
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Don’t Be in A Hurry on ARC/PLC decision
Most farmers prefer PLC for 2019 sign-up, however, it makes sense this year to wait. You have plenty of time to make your final decision.
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What are your Social Security Bend Points
As you approach retirement you wonder if you should pay in more FICA taxes. We go over the calculations. The answers may surprise you.
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MFP Update
USDA announced details on the Market Facilitation Program payments today. We recap the major provisions.
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Farm Lease Accounting
Major changes are coming to accounting for operating leases. It has likely been postponed for a year, but it would be wise to know the changes and get started now.
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Deferred Payment Contracts Apply to Related Parties Too
A farmer can sell their grain to a related party on a deferred payment contract. This can help them optimize their taxable income.
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Hemp OK – CBD ?
Growing hemp is allowed under the 2018 Farm Bill. However, processing hemp into CBD is still covered by the FDA.