October, 2010
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A Battle for Acres
It will be interesting to see which crop wins the battle for acres in 2011. Right now, wheat, corn, beans and cotton are all enjoying much higher prices than last year. The University of Purdue has calculated that the following returns above variable costs on high quality land are as follows: Corn – $447, Beans […]
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Consider Taking Your Dividends Now
Many farmers created corporations several years ago that have always been taxed as a regular C corporation or may have switched to an S corporation after several years of profitable operations. These corporations may have several hundred thousand dollars of retained earnings that under current law if they were distributed to the owners would be […]
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Get Ready for Billions of 1099’s
One of the little items that was included in the Health Act passed earlier this year was the provision that mandates the filing of form 1099 for a lot more items than is done now. Under current law, a farmer is normally required to issue a form 1099 for payment of: Services or rents paid […]