May, 2010

As Carl Sagen Would Say “Get Ready for Billions of Form 1099s”

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May 27th, 2010

Scott Heintzelman of The Exuberant Accountant has a very good post on the new rules coming for 1099 reporting for all businesses starting in 2012.  In one of my previous posts, I had indicated that these rules were coming, but Scott does a very good job of highlighting the changes. One thing that needs to […]

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Former Soviet Union May Become the Largest Wheat Exporter

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May 25th, 2010

It is projected by 2019 that Russia may become the world’s largest wheat exporter and Russian, Ukranian and Kazakhstan (RUK) wheat exports collectively may double the United States wheat exports according to the June 2010 issue of Amber Waves.  This growth in wheat exports may help mitigate global food security concerns and help offset the […]

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Some S Corporation Dividends May become Subject to SE Taxes

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May 24th, 2010

The American Jobs and Closing Tax Loopholes Act of 2010 is expected to be passed in the next week or so.  In this tax act, there is a provision that states all ordinary income earned by S corporation from professional services (such as accounting, consulting, medical and other related professions) will be subject to self-employment […]

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Update on Trips

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May 18th, 2010

I thought I would update the readers on my so-called motorcycle trip.  As you know, I was planning on riding my motorcycle to Omaha, however in looking at the long-range weather report, it showed rain for four of the days that I was to be in Omaha, so I decided to fly there.  I am […]

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Farmland Values up in First Quarter

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May 17th, 2010

The Federal Reserve Bank of Kansas City issued their quarterly report on agricultural credit conditions for the first quarter of 2010.  They indicated farmland values rose due to strong demand and the rebound in livestock prices.  Both farmer and non-farm demand appears to be very good.  Looking ahead, they expect farmland values to hold steady. […]

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Greetings from Omaha

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May 13th, 2010

I have been in Omaha all week on business and have not had much time to write a post or two.  Most of the corn is planted here and for all week it has been raining on and off.  This will help get the corn up, but may delay the bean planting. I have noticed […]

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New Drought Resistant Seed May Expand Corn Belt

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May 6th, 2010

The April 29, 2010 issue of Bloomberg Businessweek had a good article on how the seed companies are developing drought resistant corn seed that may expand the corn belt farther into Kansas, Nebraska, and Oklahoma. Another benefit of the seed is a reduction in the amount of irrigation that is needed.  This can lead to […]

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Take Advantage of the New HIRE Credit

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May 5th, 2010

Congress recently passed the Hiring Incentives to Restore Employment (HIRE) Act.  This act provided a couple of new credits that in a lot of cases will help our farmers. The first credit is basically a direct reduction in the 6.2% employer FICA cost for new employees hired who have been un-employed after March 18, 2010 and […]

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