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A Little Recognition
Our blog got voted one of the 50 best accounting blogs for 2014 by Accounting Degree Review. It is always nice to get some recognition, however, what is more important is that there are 49 other accounting related blogs listed that may be of interest to our readers. I would suggest looking through the list […]
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$14,000 per Donee, not per Donor!
We received the following question (and many others of a similar nature): “My husband tore out an article you wrote for the Farm Journal advising that it was possible to gift $ 400,000 in value per year. How is this possible when the gift tax exemption is $ 14,000? Assuming husband and wife each gifted […]
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Monsanto Wheat Settlement Update
I posted last week on how the Monsanto GMO wheat settlement for PNW wheat growers might average about 2 cents a bushel. That assumed a payout for all soft white wheat sold in the PNW for that time period. The actual amounts are actually higher based on the date of wheat sales. For sales between […]
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Happy Thanksgiving!
As I spend time in Southern California with my three oldest sons, I want to wish everyone a Happy Thanksgiving and safe travels over the holidays. It looks like the East Coast will have a large storm today and I know this will mess up travel, but try to be like me at the airport. […]
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Take Advantage of Low Rates!
The IRS just released their applicable federal rates for December 2014. For loans less than 3 years, the rate is .34%; 3 to 9 years, it is 1.70%; and for over 9 years, it is 2.70%. These very low rates provide a very good opportunity to transfer additional wealth to your children or grandchildren without […]
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Farm Exports Hit Record $152.5 Billion for FYE September 30, 2014
The USDA announced earlier this month that total US farm exports for the fiscal year ended September 30, 2014 hit a new record of $152.50 billion. This is up from the previous record set the year before of $141 billion (almost a 10% increase). It was the first time that exports for any month exceeded […]
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Monsanto Paying Less Than 2 Cents a Bushel on Settlement!
Monsanto on November 12, 2014 announced they had reached a settlement with Pacific Northwest soft white wheat growers to compensate them for losses incurred due to the GMO wheat plant found on a Northeastern Oregon farm in 2013. Total total settlement to farmers is $2.15 million with another $250,000 going to the state’s wheat associations. […]
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ARC-CO Can Still Make a Payment for High Yield 2014 Counties
One of the misconceptions I keep hearing about ARC-CO for this year is that it will not pay anything since my county yield for this year is so much higher than the Olympic average, therefore I want to elect PLC. I decided to run some numbers on McLean County, Illinois which is one of the better […]
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Where Do They Come Up With These Numbers?!
Yahoo News released an article yesterday estimating the amount of ARC and PLC payments for the 2014 crop year being in excess of $10 billion. We previously posted on how much the corn and soybeans payments might be for this crop year. We assumed that corn prices would average $3.20 for the whole year, soybean prices would […]
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Whole Farm Crop Insurance May Be for You
RMA recently released the details on the new Whole-Farm Revenue Protection (WFRP crop insurance program. This insurance replaced the old Adjusted Gross Revenue (AGR) and Adjusted Gross Revenue-Lite (AGR-Lite) programs. This insurance plan is tailored for any farm with up to $8.5 million in insured revenue and includes farms with specialty or organic commodities (both […]
