Agribusiness Blog

Agribusiness Blog

Farm CPA Today
  • Farm Landlords – What’s my tax rate

    If you are a farm landlord, you can be subject to several income tax rates and rules.  In general, you will either file your income on Schedule E, Schedule F or Form 4835.  Which onewill depend on whether you materially participate in the farm operation – in other words, the extent to which the landlord is […]

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  • World SuperBike Races

    (Warning – this post does not have anything on farming) My wife and I attended the World SuperBike races in Tooele, Utah this weekend.  I currently ride a BMW K 1200 S similar to the photo posted here.  I grew up riding small dirt bikes and had not been on a sports bike for about […]

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  • In-Kind Wages Can Be Better Than Cash

    One of the great options open to farmers is to pay their employees in-kind wages.  In-kind wages are the payments of the crops that a farmer grows.  For example, a farmer could pay their employees either cash wages of $10,000 or 1,000 bushels of soybeans worth $10,000.  The reason that a farmer would want to […]

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  • Some Income Tax Goodies

    The American Recovery and Reinvestment Act of 2009 delivered several tax goodies for farmers and their families.  Here are some of the highlights: 1.  Higher Education Credits – You can now have a maximum credit of $2,500 for higher education costs and this applies for the first four years of school instead of the old […]

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  • Credit Squeeze is Hitting Farmers Now

    It seemed for several months that the credit squeeze was passing farmers by.  However, lately I have ready several acticles about the credit squeeze hitting farms and farmers now.  Frontier Bank in Colorado specialized in loaning to farmers and it went under a couple of months back.  Most of these farmers using the bank were […]

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  • Why Strategic Plan Succeed

    In my previous post, I listed six reasons why strategic plans fail.   Strategic plans will succeed if they incorporate three main phases: The first phase is “intuitive thinking ” and it has more of an emotional attachment to it.  This first phase answers the bigger questions such as, “Why are we in business?  Who are our […]

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  • Why Strategic Plans Fail

    I found a great article written by Ron Price, CEO of Price Associates, in AgProfessionals.com regarding why strategic plans fail.  At one time, I was in a manufacturing company that periodically performed a strategic plan that had many of the problems brought out in this article. In short, there are six primary reasons why strategic […]

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  • Thoughts on Estate Planning for Farmers

    I think over the next several months major changes will be made to the estate tax laws.  Right now, each individual can have a tax-free estate of $3.5 million.  Next year it is unlimited, however in 2011, it reverts back to $1.0 million.  I think Congress will make changes this year to make the current […]

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  • The Budget is Your Road Map

    Most farmers prepare a budget at the end of the year to present to their bankers and then promptly put it away and forget about it until the following fall.  I like to envision a budget is similar to a road map.  A map has many ways to get from point A to point B.  […]

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  • Estate Tax Law Changes are Coming

    I have been reading several articles lately on the possible estate tax law changes that will be coming.  The Bush changes from about 8 years ago will be changed and soon. Most agree that the estate exemption will most likely be around $3.5 to $5 million and indexed for inflation.  Also, the gift tax exemption […]

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