Farm Industry Trends

Another Tax Season Bites the Dust

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April 15th, 2014

I am waiting for my oldest son’s age to finally surpass the number of tax seasons I have completed.  He is 27 (and working at a CPA firm in Costa Mesa, CA) and his little brother, age 25 works at Price Waterhouse Coopers in downtown LA (there is a chance he gets to spend 3 […]


Social Security, Treasury Targets Taxpayers for Their Parent’s Decades-Old Debts

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April 14th, 2014

According to a recent Washington Post article, the Treasury Department has been seizing tax refunds or demanding payment from hundreds of thousands of Americans on some very old debts due to a single sentence in the 2008 farm bill that removed the 10-year statute of limitations on debt owed to the government.  Since 2011, the […]


Farm Bill Webinar

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April 9th, 2014

This morning at 10 am Central Time we had an one hour webinar on the new farm bill.  We had several hundred people accessing the webinar and based upon the amount of questions that came over the screen as I was discussing the farm bill, this appears to be a very hot topic right now. Since there […]


Patronage Dividend Notices Can Be Sent by Email or Posted to a Website

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April 3rd, 2014

Roger McEowen from the Center for Agricultural Law and Taxation (CALT) posted earlier this week on a recently issued IRS private letter ruling (PLR 201413002) allowing a cooperative to provide notice by email or a posting to their website instead of mailing all notices by regular mail.  In order for Cooperatives to get a deduction for […]


Very Limited Availability for AICPA Ag Conference

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April 1st, 2014

This post is primarily for our CPA readers out there.  I was just informed yesterday that there is extremely limited availability for the AICPA Ag Conference that will be held in Austin on May 7 to May 9.  If you are interested in attending, here is the link on the AICPA site to sign up.  […]


Leave a Legacy (#44)

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March 30th, 2014

I had the privilege about two weeks ago to make a quick trip to the Kansas City area to do taping for Leave a Legacy.  Leave a Legacy is a Farm Journal Media presentation focused on succession planning for farmers and is headed by Kevin Spafford.  About three years ago, I had taped an inside episode […]


Taxpayer Victory in Frank Aragona Trust Case

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March 27th, 2014

The US Tax Court released today their long anticipated decision in the Frank Aragona Trust case.  The background on the case is as follows: The Frank Aragona Trust was formed by Frank Aragona during his lifetime and after his death, the trustees of the trust were his five children plus an independent trustee.  Three of the children […]


Painful Form 8879 Process is on its Way

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March 26th, 2014

Almost all of our tax returns that we prepare for farmers are now being electronically filed with the IRS and related state taxing authorities.  The form that we need from the client in order to electronically file the return is Form 8879.  This form must be signed by an appropriate person for entities and then […]


One More Reason Why Tax Reform is Going After Cash Method

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March 24th, 2014

The IRS issues data regarding income tax information for filers every year.  I ran across a posting on the net farm income and loss reported by Schedule F farmers for 2011 and 2012.  During each of these years, the USDA estimated that farmers had net farm income in excess of $120 billion. However, on schedule […]


FSA Releases New Farm Bill Fact Sheet

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March 19th, 2014

The FSA released today a six page fact sheet on the new farm bill.  It recaps the major changes that were included in the 900+ page farm bill.  Most of the material has been covered on several of our posts over the last month or so. We are doing a webinar on the new farm bill […]


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    Sort of sad all of the orange groves that have been pulled out due to drought 2 days ago

    Traveling north of Bakersfield CA. Orange groves by the dozen 2 days ago

    When "bullish" corn reports lead to flat closes what is Mr. Market telling you. Be careful. 2 weeks ago

    2010 spring corn price was $3.99. Only four years ago. 3 weeks ago

    Two good days to lock in decent prices on corn and beans. Did you take advantage of the opportunity 3 weeks ago

    Very little change on corn intentions in key corn belt state. Almost all reductions in fringe states such as ND down 1 million acre 3 weeks ago

    North Dakota up 1 million Minnesota up 700k and Nebraska up 600k represent almost half of the 5 million increase in bean acres 3 weeks ago

    Just spoke for 45 minutes on new farm bill to a group of 100 Minnesota and Wisconsin Co-op board members. No one fell asleep. 4 weeks ago

    Hard to beat spring time in the Pacific Northwest. 1 month ago

    Kansas City can be windy this time of year. Just got done taping with a farm family. Check it out on #agday next Friday 1 month ago