January, 2011

TEPAP – Final Day

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January 15th, 2011

After six great days of presentation, we have finally come to the last day of the TEPAP conference.  This is only a morning session and our presentation on public relations plans was giving by Moe Russell of the Russell Consulting Group. Moe shared that we had 3 sets of good time in the last 100 […]

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TEPAP – Day 6 Afternoon Session

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January 14th, 2011

Michael Mazzocco, Director at Verdant AgriBusiness Consultants, presented the afternoon session of day 6 of the TEPAP conference.  This session was on Market Growth Strategies for farmers. To grow your farm revenues, you have seven degrees of freedom: Increase sales – same customers; same product mix Existing products; new customers New products – same or […]

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When to Take Bonus Depreciation

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January 14th, 2011

We had a reader ask the following question: “I ordered a new machine shed in December 2010, and put down a partial down payment. Can I take the bonus depreciation in 2010, or do I have to wait until tax year 2011 when the building will be erected?” For new farmings buildings started in 2010, but […]

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TEPAP – Day 6 Morning Session

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January 14th, 2011

The morning session of Day 6 of the TEPAP conference was presented by Allan Gray, professor at Purdue University. This session focused on strategic management for farmers.Strategic management for farmers usually requires us to wear both hats – The General Hat (the leader) and The Troop Hat (getting the work done). We seem to spend […]

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TEPAP – Afternoon Session of Day 5

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January 13th, 2011

The afternoon session of day 5 of the TEPAP conference was presented by Brent Gloy of Purdue University on improving profitability through process improvement. On process improvement, it is important to understand that it is difficult to manage output, whereas is very possible to manage inputs. Farmers need to determine and manage the factors that […]

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TEPAP – Day 5 Morning Session

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January 13th, 2011

The morning session of day 5 of the TEPAP conference was performed by Bernie Erven, professor emeritus of agricultural economics at Ohio State University (of THE Ohio State University as one farmer told me this week). His discussion was on Human Resources Management dealing with:  Be a Better Boss  Organizational Structure  Dealing with Problem Employees […]

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100% Bonus Depreciation – No Income Limitation!

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January 13th, 2011

We had a reader send in the following question: “I read a post from you a week ago or so about 100% bonus depreciation on farm buildings. Looking at putting up a machinery shop will I be able to deduct all of the cost my 2011 taxes if I put the building up this year […]

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TEPAP – Day 4 Afternoon Session

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January 12th, 2011

The afternoon session of day 4 of the TEPAP convention was presented by Gary Maas on dealing with all of the different personality types associated with a farm operation (or in life). The interesting part of the presentation is how your personality based upon your natural style may be completely different from the style you […]

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TEPAP – Day 4 Morning Session

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January 12th, 2011

David Kohl, noted speaker and professor from Virginia Tech University provided a morning session on Mega Trends for agriculture. Highlights are as follows:   70% of North American farms will change hands by 2025. This is not just ownership, but who farms the land. This provides plenty of opportunities for American farmers. Volatility will require an […]

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TEPAP – Day 3 Afternoon Session

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January 12th, 2011

For the Tuesday afternoon session, we were privileged to have the last formal presentation done by Dr. William Carden, CEO of The Carden Group. Dr. Carden’s discussion was on effective delegation by farmers. One thing that resonated with me was that as farmers, we need to delegate the expected results to our employees not the […]

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