Ag General
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MFP Details to be Released This Week
USDA should be releasing more details on MFP this week.
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Update on Learning Sessions
We are ramping up our full-day farm tax updates and this post provides the details.
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Headings Can Be Deceiving
We received the attached article with a very misleading heading. We explain why.
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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.
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Register for June 26 199A Webinars
We will be having two webinars on June 26 to review the 199A proposed regulations for patrons and cooperatives.
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Can You Defer Revenue Protection Crop Insurance Claims
Most crop insurance policies are now revenue based. The IRS indicates these payments can not be deferred for one year. Are they correct?
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Cash or Grain – Which is Better?
Farmers can either give grain or cash to a charity. In almost all cases, it is much better to give grain from an income tax standpoint.
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Don’t Expect an Increase in the Corn Reference Price
The 2019 Farm Bill added the term Effective Reference Price. It allows the current reference price to increase, but don’t expect any increase for corn (unless you think we will get $7 corn in the next five years)
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LLC Equal Flexibility
LLC’s allow investors in farm operations to get a preferred return and then split profits after that return. You will start to see more of these in farming.
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Wheat and Cotton Seed ARC or PLC
Some readers asked us to run calculations on wheat and cotton seed.