Agribusiness BlogFarm CPA Today

August, 2009

  • USDA Says 2009 Farm Income Will be Down!

    The USDA reported on their website on Thursday that they expect net farm income for 2009 to be $54.0 billion down from the record 2008 preliminary estimate of $87.2 billion.  This equates to a net decrease in farm income of $33.2 billion or an over 38% decrease.  What is even more disheartening is that the […]


  • Economic Rebound in Farm Sector Still on Hold

    For the third straight month, a rural economic indicator has declined.  This suggests that a rural economic rebound is still several months away.  Creigthon University (located in Omaha) performs a monthly survey of bank CEO’s in an 11-state region which primarily comprises the corn belt region and related states. The Rural Mainstreet Index (RMI) which […]


  • New Farmers Get a Helping Hand

    An article in the Denver Post today and in other papers outlined a program in Iowa that is designed go help young non-farmers become farmers by hooking them up with farmers that are ready to retire. This particular program is located in Iowa at Iowa State University and is headed up by Dave Baker.  The program […]


  • Make Sure to Take Capital Gains This Year

    If you combined taxable income including capital gains is in the 15% tax bracket or lower, then all of your long-term capital gains will be tax free in 2009.  This also applies to qualified dividend income.  For example, if you file a joint return with your spouse and have farm income of $50,000, have two […]


  • Farmers Tax Guide

      I have had several requests from farmers and their advisors regarding an online farmers tax guide.  From what I can tell there is no such thing, but in the near future, there should be one. I am working on a “wiki” based online farmers tax guide.  This guide would be for income, estate, excise […]


  • Ask Paul

    I would like to get some interaction going with my audience.  I would appreciate any questions that you might have about farm taxation, operations or any other questions that you might have. Please feel free to send me a quick or detailed e-mail to  I will promise to try to get an answer to […]


  • Where is our Stimulus Package Going

    My colleague, Scott Heintzelman, has a great blog entitled The Exuberant Accountant.  In one of his most recent posts, he references a site that gives a breakdown by state and county of the stimulas money that is being spent on projects, etc. If you are interested to see where your county ranks and where the […]


  • Cropland values drop 3.9% in 2008

                The USDA issued a report on Land Values and Cash Rents for January 1, 2008 to January, 1, 2009.  This is a highly detailed report that summarizes the changes in land values and cash rents by region for calendar year 2008. Some of the highlights are as follows:  Average cropland […]


  • Twelve Steps to Avoid Being a Marketing Lemming

    I came across a good marketing company be watching Agday the other day.   Alan Brugler was discussing the corn and bean market and I decided to go check out his web site.  He is located in Omaha, Nebraska and has a very good short guide on how not to be a marketing lemming. I will […]


  • Farm Profit Trends 1998 to 2008

    The Iowa Farm Business Association, comprised of various farm management companies, recently issued a nice 4 page newsletter that had a lot of good information on farm profit trends.  All of this information relates to farms in Iowa but the trends show hold true for most states that grow corn and s0ybeans. The newsletter recapped […]


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