Jun 19
I just finished up attending a two day seminar in our Minneapolis office with our company wide Agribusiness and Cooperative group. There is a ton of talent assembled in this group and it was great to get to know them better.
As I was attending one of the discussions I got a text with updated corn and bean prices and noticed the large increase in price for the day. My thought after seeing this is “what is your plan to take advantage of these prices”. Historically prices can set a high for corn and beans around this time of year.
They may not be at a high yet, but what is your plan to at least capture these prices so your overall price for the year does not go below it?
Categories: Commodity Marketing, Farm Leadership, Farm Operations
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June 20th, 2012 at 10:24 am
Paul, I find your site very interesting and educational. I am a new member. My wife and I own a farm in Wisconsin and will be starting a pasture raised/finished beef operation and want to form an LLC. From a tax perspective, will we want to include the farm (land, house, etc) as part of the business or keep it seperate?
Thank you
June 25th, 2012 at 3:51 am
I would normally keep the house in your name to preserve the up to $500,000 tax free gain on the sale of a house. Whether to keep the remaining separate would depend on the amount of income, expenses and related matters.