Ag Policy
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FFSC – Day Two (Session Five)
On purpose, I skipped talking about session four since it was my discussion on income taxes which we have posted on many times already. Session Five was presented by Tim Ohlde, President of Elk State Bank in Clyde, KS on the applications of the FFSC guidelines to Today’s Ag Lending World. He stated that what […]
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FFSC – Day Two (Session Two)
Danny Klinefelter from Texas A & M was the second speaker of the day and his discussion on Peer Advisory Groups and Continuous Management Improvements. The studies from about 1,100 top producers around the US over the last several years attending the TEPAP conference show that only about 50% were using cash flow budgets and […]
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Day 1 of the FFSC
As I indicated in my last post, this week I am attending the annual conference of the Farm Financial Standards Council. I got into Sioux Falls this afternoon. We had a reception get together tonight and I was able to meet many of the participants. There about 45 attendees and most of them were there […]
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IRS Extends Time for Innocent Spoue Relief
The IRS in Notice 2011-70 has extended the time that an innocent spouse can request equitable relief from the current two year limitation to the amount time remaining under the statute of limitations for collection procedures. This is a very nice change from the IRS since they had recently won a couple of court cases […]
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John Deere to Fight For GPS
USA Today just ran an article on how John Deere is leading the fight against Lightsquared plans to put up more than 40,000 new cell towers in rural America. John Deere is worried that the spectrum that Lightsquared want to use will bump the GPS spectrum and lead to farmers having issues running their GPS […]
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Expect Filing Delays of Form 2290 for Many Farmers
The IRS has indicated in a couple of announcements (most recent one here) that the form 2290 excise tax return for the year beginning July 1, 2011 and ending June 30, 2012 and for the quarter beginning the same date will be delayed for some unknown time. As was with the new tax laws passed […]
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Dying Days of Ethanol Subsidies?
The Wall Street Journal in today’s paper had a good article on how ethanol subsidies are even closer to being eliminated. Under the proposed deficit-reduction plan proposed on Thursday, the 45 cents a gallon blenders credit would be eliminated, however, more than $600 million of aid would be given to service stations to help promote […]
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Mexico to End Tariffs on Fruit and Other Ag Products
There is an old saying that when politics gets involved, farming can suffer. One of the prime examples of this was issue of allowing Mexican truckers to bring products into the US by truck which was allowed for several years. However, politics got involved a few years ago and the US stopped this and Mexico […]
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Extra Year for “Prairie Pothole States”
The USDA announced on Thursday, June 30, 2011 that the “Prairie Pothole States” of Montana, North and South Dakota, Minnesota and Iowa will have one extra year to use in their prevented planting insurance coverage. Normally, the prevented planting coverage insurance requires one crop in the last three years. In these states, for many farmers, […]
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Are High Wheat Prices Contributing to Mideast Turmoil?
The Thursday edition of the Wall Street Journal had a front page article on how the rapid increase in wheat prices is contributing to the turmoil in the Mideast. Most of the Mideast countries consume a much higher percentage of wheat in their diet than any other countries in the world. For example, Americans consume […]