Agribusiness Blog

Agribusiness Blog

Farm CPA Today
  • 2009 Year End Tax Planning

    With the end of 2009 less than three weeks away (where does the time fly), I thought I would post a year-end tax planning update for farmers.  Most of this information applies to non-farmers also, but wanted to give you something to plan for.  Again, make sure to review this with your tax advisor before […]

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  • Corn Harvest is Not Done

    I was traveling over the last couple of days to the Mid-West.  I spent part of my time driving from Kansas City to Davenport, Iowa and then from there to Hannibal, Missouri and then back to Kansas City.  While on this trip, I noticed that there was still a lot of corn that was not […]

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  • IRS Cuts Mileage Deduction Rate for 2010

    The IRS just announced the mileage rates to be used for 2010 and most of them are lower than 2009 (even though gas is higher now than last year at the same time) For regular mileage, the reimbursement rate will be 50 cents per mile which is about 9% lower than last year’s rate of […]

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  • Corporate Farms in Africa

    In the latest issue of Business Week magazine is a very good article on the farm land rush that is occurring in Africa and other under-developed countries around the world. There are many issues surrounding these investments in third word farming enterprises.  Although it may provide jobs for these people, it also is disturbing the […]

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  • Stable Land Prices – Maybe, but How Long

    The University of Illinois had a recent October article on how land prices for Illinois had held steady from January 1, 2008 to January 1, 2009.  Prices for both years were slightly more than $4,500 per acre.  This contrasts with prior year increases. Between 2003 and 2008, the average price per acre grew by $2,120 or […]

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  • Happy Thanksgiving and Update on Kid’s Wages Post

    Some of my fondest memories as a child was going to my grandparent’s house for Thanksgiving.  My mother was the oldest of 12 kids and many times we would have 30 to 40 people at the house.  The best thing was my grandmother’s pumpkin and apple pie.  I know if she was still alive and […]

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  • Paying 4 Kids Equals $8,300 of Tax Savings

    While growing  up on the farm with my brother and sister, we worked in spring and fall planting plus doing the summer harvest.  Most of the time, my parents never did pay a wage to either my brother or I, however, they did purchase a car for us and put us through college.  This means that […]

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  • Will the Dairy Price Incease Save the Farmers in Time

    The National Agricultural Bankers Conference is meeting in San Antonio, Texas this week.  Marcia Zarley from DTN/The Progressive Farmer has a good overview of what the bankers are talking about.  Farmers who are in the dairy and pork industry are really feeling the pinch of low milk and pork prices right now.  Many of the […]

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  • Fourteen Years to Pay Estate Taxes

    For 2009, a taxpayer can leave an estate of $3,500,000 tax free to his/her heirs.  They can also leave an unlimited amount to their spouse.  With proper planning, this means that most farm families will be able to shelter $7,000,000 or more in farmland values from the estate tax.  A benefit that the IRS provides […]

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  • Farmland Values Hold Steady, But Credit Conditions are Deteriorating

    After two years of steep increases, it appears that farmland values are either flattening out or starting to drop, according to the Federal Reserve Bank of Kansas City. For example, Nebraska farmland values fell in the third quarter compared to a the third quarter of 2008 by about 5%.  The regional change was slightly lower […]

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