Farm Operations
-
The Farm Financial Standards Council Annual Meeting
The annual Farm Financial Standards Council meeting started on Wednesday with committee reports. Today is full of topics related to Ag Data and the interplay with accounting. I will recap the day for you.
-
Some Interesting Corn ARC-CO Data
The USDA released 2016 ARC-CO data last week. I recap some of the interesting data about corn ARC payments for the 2014-2016 crop years.
-
Section 2704 Proposed Regulations Bites the Dust
Section 2704 deals with allowed discounts on closely held business entities. The IRS had proposed new regulations last year to reduce those discount. On Monday, the Treasury Department issued an updated report that these new proposed regulations will be withdrawn completely. This is good news for farmers.
-
Still Not Much is Known About Tax Reform
The “Big Six” released updated tax reform guidance today and so far as usual, not much real guidance was provided. We go over the major details.
-
Change in Scope of Piece-Rate Work?
Piece Rate wages are being challenged in Washington state. How it turns out there may affect farms across the country.
-
Is Farm Real Estate Pricey Compared to Farm Income?
The ratio of net income per dollar value of farm real estate has dropped from 25 cents to about 16 cents in constant dollars. Does this mean that farm real estate is overvalued?
-
What is a “Cousin”
We expand on our previous post and provide examples of family and non-family farm operations for FSA purposes.
-
Cousins are not “family”
For FSA planning purposes, cousins are not considered family and therefore, severe payment limits may apply.
-
Consolidation in the Ag Sector
Consolidation has occurred in several parts of the Ag Sector. The Kansas City Ag Symposium discussed some of these trends.
-
Does Your Successor Really Want to Succeed You?
Most farmers assume the next generation wants to take over their operation. But have you really discussed that with them. There are resources to help you with that transition and we discussed one of them in today’s post.