Now is a great time to reflect on your farm business and to look at the big picture. The main focus is “How can I improve my business this year?” Let us suggest an easy and free way to do so: join AgFuse...
This is the second of a two-part series focusing on tax savings, planning opportunities, and other tax considerations for year-end 2019. Part I, published on AgFuse in November of 2019, focused on planning...
Many taxpayers are surprised to find out that the IRS taxes hobby income. We all have hobbies. Yours might be painting, making unique juices, or growing flowers. Hobbies are an activity, or “side hustle”...
There is no shortage of great apps to help farmers in 2020. As farming gets more digital, tech savvy farmers are craving tools that can help them do their jobs more efficiently and better. This list compiles...
Part 1: Know Your True Cost of Production Why Your TCOP Matters How to Calculate Your TCOP Part 2: Take the Emotions Out of Your Marketing Plan Why You Need a Plan How to Create a Marketing Matrix How to...
· Calling this week’s trade a ‘roller coaster ride’ would likely be putting it mildly as traders and farmers work to recover from price whiplash. A trio of what could be viewed as bullish news stories...
One of the most common questions I receive as a tax professional is “What type of business entity should I choose?” Most new business owners are overwhelmed at this decision and do not fully understand...
Top 10 Things to Consider when Expanding your Farm Operation Farmers and ranchers are innovative business-people who are not afraid to take risks. Many operators are always thinking about ways to increase...
Use these tips to help avoid and recognize the symptoms of carbon monoxide poisoning Think about the gas-powered engines you might use on a daily basis, like a generator, pump, pressure-washer, tractor...
Understanding Farm Succession Planning Finding time to talk to your family about succession planning for your farm may be difficult. You may also be uncomfortable with the thought of selling your farm...
Carbon monoxide is a tasteless, odorless, invisible gas that occurs naturally through combustion, or, the process of burning. Low exposure to carbon monoxide can cause symptoms similar to the flu. In high...
In late 2018, a new farm bill was passed that legalized the production of hemp as an agricultural commodity while also removing it from the list of “controlled substances”. The Gold Rush of the modern...
The tax consequences of selling a farm or agribusiness should be at the top of the mind of every landowner. For many life-long farmers, selling their farm or business is one of the most difficult decisions...
Farming is such a unique occupation because the intensity of our work oscillates with the seasons. For most farmers, winter marks a time for some rest and reflection--and a new year ushers in new hope....
Conservation easements have grown in popularity in recent years, partly due to the impactful tax benefits available to the donor. A conservation easement is a restriction on the use of land, voluntarily...
The combination of increased risk and high-value assets makes fire protection at farms and ranches a high priority. The first step in minimizing the fire and wildfire risk is increased knowledge and awareness.It's...
Don't risk finding out if your farm is under-insured when you have a loss Insuring to the accurate value of your home, buildings, equipment and inventory is an important consideration when reviewing your...
A 1031 Exchange is a tax-deferred swap program in which farmers and others in the agriculture industry can participate. Farmland, vacant land, and certain agriculture assets are considered real estate assets...
Celebrate national dairy month by creating a safe dairy operation This June, dairy leaders, farmers and communities from across America will celebrate National Dairy Month. What began 76 years ago as a...
A common issue among landowners, both large and small, is vandalism occurring on the property. One of the most interesting stories regarding vandalism is a Florida farm-owner we know woke up in the middle...
Taking inventory of your farm equipment Think about how long accumulating your farm equipment took. And about the money you spent on each piece. If a fire, flood, tornado or other covered disaster strikes...
This Week in Agriculture:The Trade Truce Edition: December 7, 2018· The much anticipated meeting between President Trump and Chinese President Xi did not fail to produce excitement upon its conclusion....
Despite the fact that there is near-guaranteed job security, thanks to booming population growth, many beginning farmers face seemingly insurmountable obstacles to bringing a product to market. In this...
This Week in Agriculture:A Mixed Bag of Information from the Week that Was: February 1st, 2019· The reopening of the government and Chinese trade conversations dominated headlines this week. With the former...
The USDA began reporting corn yield estimates in 1866. That year, the average farm was harvesting 24.3 bushels per acre; today that same farm averages 176.6 bushels of corn per acre. One might think that...
This Week in AgricultureA Mixed Bag of Information from the Week that Was: October 12, 2018· A USDA supply and demand update, weather, trade talks and outside market volatility were the most talked about...
Make Sure Farm Safety is Top Priority Creating a safety culture at your workplace requires a proactive safety attitude. Consider these tips to get workers onboard.Talk about safetyThe more you talk up...
Most farmers and ranchers have a decent understanding of tax depreciation. When a business purchases assets, the business entity is allowed to write off the value of the asset purchased over the life of...
On December 19, 2019, Treasury released the final regulations for the much-discussed Opportunity Zone program. Overall, these final regulations did a great job of answering most of the open farming & agribusiness...
This is an unquestionably tough time to be a farmer. A trade war has beaten down already marginal prices, inputs have risen more than anyone could have predicted and many of us have experienced a so-called...
Ag-Analytics® (https://analytics.ag/uav) announced the launch of its long-awaited fully remote, on-demand UAV Service – a custom flight service to assist farmers by providing fast, cost-effective UAV...
With the increasing use of precision ag tools and increased machinery efficiencies, the whole dynamic of hiring farm employees has changed as well. Being a farm worker these days means being a technician,...
Late in the afternoon on Friday, March 27th, the United States House of Representatives passed the $2 trillion federal relief package called Coronavirus Aid, Relief, and Economic Security Act ("CARES")....
Farm financial planning for the agriculture community At Nationwide, we understand those who work in agriculture. After all, we were founded by farmers and have been helping them manage risks since 1926....
Grain yield is strongly influenced by various factors, such as soil characteristics, irrigation, genetics, climate, cultivation techniques, and use of fertilizers.Fertilizers contribute incisively to the...
There’s a simple lesson to be learned from the recent Farmland Partner’s accusations that has nothing to do with ethics. It first needs to be said that these are still, in fact, accusations. I want...
· A new NAFTA, heavy rainfall wreaking havoc across much of the Corn Belt, solid exports for 2 out of 3 majors and ethanol margin struggles were the topics most heavily discussed by traders this week.·...
Severe weather brings a host of potential challenges for farmers and ranchers. Tornadoes, hurricanes, floods and high volumes of chemicals on hand are just a few hazards that they face.Emergency preparednessWe’re...
Will it pay to apply a fungicide? That’s the million-dollar question for farmers looking to boost production on a limited budget. The honest answer is, it depends. At a time when every input dollar matters,...
The decision to retire is often met with either enthusiasm or fear. Some farmers are counting down the days until retirement, and others are scared to retire because they aren’t sure what they will do...
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