Agribusiness Blog

Agribusiness Blog

Farm CPA Today
  • Minnesota Median Farm Income Down 15% in 2008

    The University of Minnesota has a Center for Farm Financial Management that performs an survey of farms in Minnesota.  In August, they issued their report for 2008.  Some of the key findings are as follows: Median net farm income was $90,039 which was down from $105,489 in 2007.  This represents an approximate 14.6% decrease.  Median net […]

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  • Pay Your Kids – It Pays at Tax Time

    I remember working on our wheat and pea farm for my parents when I was in high school.  During spring, I would help plant the peas.  During harvest, I drove the combine for about 3 to 4 weeks depending on the yields, weather and how much custom cutting we did.  In the fall, I would […]

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  • Don’t Forget the State When it Comes to Estate Taxes

    Currently, for people dying in 2009, you can have a taxable estate of up to $3.5 million and not pay any federal estate taxes.  For 2010, this amount is unlimited, but goes back to $1,000,000 in 2011 and beyond. Congress is working on changing these amounts and my guess is that the current $3.5 million amount […]

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  • Federal Reserve Bank Says Land Values are Stabilizing

    The Federal Reserve Bank of Kansas City issued their second quarter report on thier survey of agricultural credit condtions.  Some highlights of the report are: 1.  Farmland values seem to be stabilizing.  The value of farmland in the second quarter was basically unchanged from the second quarter of 2008.  Irrigated acreage was slightly higher due […]

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  • Six Steps to Good Marketing

    First off, an update on why there have not been any posts for a few days.  I went on a four day backpacking trip into the North Cascade Mountains of Washington state.  This is some of the best scenery in the whole United States.  I went with a friend that was in my wedding many […]

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  • Say “Thank You” and “I’m Sorry”

    I was reading  a good book by Mark Reiter called “What Got You Here Won’t Get You There” .  Mark is a consultant to many Fortune 500 companies on how to get their key employees to overcome thier worst personailty traits. In the book, Mark pinpoints 20 traits that almost all people in business and in life […]

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  • The Five Year Forecast – Is It Better or Worse?

    As the global economy turned south a year ago, the Food and Agricultural Policy Research Institute at the University of Missouri decided to revise their projections of food prices and production over the next five years.  This was done early in the year and many commodity prices have changed direction in the last several months.  FAPRI […]

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  • USDA Says 2009 Farm Income Will be Down!

    The USDA reported on their website on Thursday that they expect net farm income for 2009 to be $54.0 billion down from the record 2008 preliminary estimate of $87.2 billion.  This equates to a net decrease in farm income of $33.2 billion or an over 38% decrease.  What is even more disheartening is that the […]

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  • Economic Rebound in Farm Sector Still on Hold

    For the third straight month, a rural economic indicator has declined.  This suggests that a rural economic rebound is still several months away.  Creigthon University (located in Omaha) performs a monthly survey of bank CEO’s in an 11-state region which primarily comprises the corn belt region and related states. The Rural Mainstreet Index (RMI) which […]

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  • New Farmers Get a Helping Hand

    An article in the Denver Post today and in other papers outlined a program in Iowa that is designed go help young non-farmers become farmers by hooking them up with farmers that are ready to retire. This particular program is located in Iowa at Iowa State University and is headed up by Dave Baker.  The program […]

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