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Day Two of Midwest Crop Tour
Today, we left Fishers, Indiana and headed due west and then north towards Kokomo. Most of the corn samples we took between Tipton (where we started our sampling) were very good. Most of the yields were in the 185 to 220 range. Soybean counts were above the three-year average. Our highest corn count in Indiana was […]
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First Day of the Midwest Crop Tour
We left Columbus, Ohio this morning at 7 am and headed west. It was tough going the first couple of hours with the suburbs and humidity cloud to get any samples in, but we finally got some samples. Our lowest of the day was 53 bushels in Drake County but as usual on the crop […]
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Start of the Midwest Crop Tour
We are at Columbus, Ohio for the start of the Midwest Crop Tour. Tonight, all of the scouts have a meeting to go over the ground rules for the tour. On the Eastern Leg will be 11 routes that cover the area from Columbus to Southern Minnesota. The Western Leg will cover Eastern South Dakota […]
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California is Out of Controll!
Since I practice in the state of Washington, I end up doing a fair amount of California business and personal tax returns. This is one of my least favorite states to deal with and a recent court case winding its way through the system highlights this even more. In Swart Enterprises, Inc. v. Franchise Tax […]
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MidWest Crop Tour
Just letting everyone know that I am leaving bright and early tomorrow morning to fly to Cedar Rapids, Iowa. Chris Barron is picking me up at the airport and we are then headed to Columbus, Ohio. We will spend the night in Bloomington, Illinois (most likely) and then meet up with about 100 scouts in […]
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New IRS Website for Healthcare Provisions
The IRS has just released a new website that recaps and provides information on most of the Health Care Provisions of ObamaCare. Although we sometimes have issues with the IRS as preparers and farmers, I must admit that their website is one of the better sites on the internet. There is a lot of information […]
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How to Blow a 1031 Exchange
Recently, I had a taxpayer call me about the sale of some farm land. The taxpayer had sold 80 acres for $960,000 that they had inherited from his mother about 20 years ago. The tax basis in the property was about $150,000 so they were facing an $800,000 long-term capital gain which would cost them […]
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The New Farm Bill
Mark Reisinger, the Global Grain Trade lead gave an update on the new farm bill this morning at the NextGen conference. With the House failing to pass a Farm Bill that included the nutrition program, we now have a Senate/House sub-committee working on a new Farm Bill. The Senate portion offers two programs based on […]
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Letting Go
Yesterday, I was in Des Moines, Iowa for a Pioneer Seed sponsored NextGen conference. This conference is for the younger generation of farmers who are presented ideas on how to grow their business. One of the sessions had three farmers from various parts of the country (Iowa, Texas and New Jersey) and one of the […]
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Don’t Forget Your Retirement (Plan)!
I get the following question at least three or four times a year from our clients: “I know my income is too high to contribute to an IRA, what other options are there?” When Congress put in the income limitations on IRA several years ago, there arose a misconception regarding the limit. Many people, including […]
