May, 2015
-
Another Personal Invitation
The Farm Financial Standards Council was formed several years ago to help the farming industry adopt accounting standards for farmers, ranchers, bankers, accountants and others to better present and use financial accounting records in their operations. It is a purely a non-profit organization composed of unpaid volunteers and they provide a very valuable service to […]
-
NSAC Cyber Security Webcast
As a quick follow up to a recent post ( Think You Are Too Small to Be a Target of Cyber Crime? Think Again.), on June 2nd Mark Eich from CliftonLarsonAllen will be presenting a Cyber Security webcast for the National Society of Accountant’s for Cooperatives (NSAC). While this group is geared towards Cooperatives, the […]
-
Don’t Get Too Greedy!
The US Tax Court released the Costello case yesterday and it is a great example of how much tax you may have to pay when you either get “too greedy” or don’t follow the tax rules or both. David and Barbara Costello purchased a large farm (according to the Tax Court 73.6 acres is a […]
-
2015 AICPA Ag Conference
As chairman of the 2015 AICPA Ag Conference, I would like to personally invite all of our readers to this event. It will be held on Monday July 13, 2015 to Wednesday, July 15, 2015 in Indianapolis, Indiana. On Monday, Chris Hesse and myself will do an all-day optional workshop on farm taxation . This session will […]
-
Dairy Margin Protection Program Analysis
The USDA has a Dairy Margin Protection Program (MPP) website that provides updated information. This information includes historical data along with a monthly update on monthly margin (All-Milk Price less calculated feed costs). As expected, the margin for 2014 was substantially in excess of the highest margin ($8) that could be accessed by dairy producers. […]
-
Minnesota Poultry Producers Get Extension to File and Pay
Any poultry producer in the state of Minnesota that has been affected by the H5N2 avian influenza outbreak now has more time to file and pay any Minnesota taxes. In an April 29, 2015 News Release, the Minnesota Revenue Department announced that these farmers will forgive interest and penalties for any tax returns that were due […]