Agribusiness Blog

Agribusiness Blog

Farm CPA Today
  • 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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  • Life Insurance Company Stock Sales May Be Tax Free

    The US Court of Federal Claims issued a decision in 2008 indicating proceeds from selling life insurance stock companies that had de-mutualized were in fact tax free.  There have been serveral large life insurance companies such as Metropolitan, Principal, Prudential, etc. that have de-mutualized over the last several years. The IRS had argued that when these […]

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  • Get a Do Over

    Kiplinger magazine has an article on a great way to borrow money from the government on an interest-free basis and, then pay it back and start getting extra benefits.  This method applies to all people who apply for social security.  It allows them to start their benefits at age 62, collect and invest the money until age 70.  […]

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