Farm Leadership

How ARC-IC Pays on “Planted Acres”

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October 28th, 2014

We got the following question from a reader: “I enjoyed your article regarding ARC-IC calculations.  I’m wondering if you could further explain how ARC-IC is paid on planted acres vs. base acres.  Everything that I have read states that ARC-CO & ARC-IC are paid on 85% and 65% of Base Acres and that planted acres […]


IRS Disagrees With Morehouse Ruling (Of Course)

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October 27th, 2014

The IRS released on October 16, 2014 a new bulletin on their website (in the small business section) regarding the taxation of Conservation Reserve Program (CRP) payments.  Although the release was dated after the Morehouse appeal case which was released on October 10, 2014, the IRS has not changed their stance regarding the taxation of […]


2015 Social Security Wage Base Increases to $118,500

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October 24th, 2014

FICA tax of 6.2% for employer and employee applies on wages and SE earnings up to $117,000 for 2014.  The Social Security Administration (SSA) just announced that for 2015, the new wage base will be $118,500 or an increase of $1,500.   This means, that for 2015, the maximum Social Security tax that employers and employees will […]


ARC-IC Calculations Apply to All Elected Farms in the State

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October 23rd, 2014

Most producers who elect ARC will do at the County level (ARC-CO).  However, many producers with yields substantially in excess of county levels will elect ARC at the Individual Crop level (ARC-IC).  All of these elections are on a farm-by-farm basis and on a covered crop-by-covered crop basis except ARC-IC which requires all covered crops […]


APH Yield Exclusion to be Available on Certain 2015 Spring Crops

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October 21st, 2014

The RMA announced today that the APH yield exclusion will be available for most 2015 spring crops.  The APH yield exclusion allows farmers to exclude their own yields anytime the county or contiguous counties have a current yield that is less than 50% of the 10 year county yield.  For example, assume a Texas wheat farmer farms […]


Will ACA Require You To Include Health Insurance as Wages

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October 20th, 2014

Many farmers provide health insurance for their employees.  In years past; whether the employer offered a qualified group plan or simply paid for the employee’s health insurance, the payment of the premium was deductible by the farmer and non-taxable to the employee.  However, beginning January 1, 2014, an employee is only non-taxable on health insurance benefits […]


Base Reallocation Q & A

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October 19th, 2014

We have gotten numerous questions regarding the base reallocation election available to owners and we are summarizing these in a Q & A format: Q. Can I increase my base acres? A. No. You cannot increase or decrease your base acres.  Those total acres are set; however, you are allowed to reallocate those acres from […]


Join Andy Biebl, Lance Woodbury and Myself

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October 15th, 2014

DTN/Progressive Farmer puts on an Ag Summit in Chicago every year in December.  This year on Sunday December 7 from 1 pm to 5 pm, Andy Biebl, Lance Woodbury and myself will be doing a joint presentation on Farm Retirement and Transition Planning.   Some of the key topics that Andy and I will be presenting […]


Complacency about Fraud Exacts a Heavy Cost

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October 14th, 2014

The Association of Certified Fraud Examiners (ACFE) has produced a new infographic, “The Cost of Complacency”, warning about the costs to organizations of being overly complacent about financial fraud. The data was compiled by the ACFE for its 2014 Report to the Nations on Occupational Fraud and Abuse. Here are a few highlights from the […]


Time Running Out on Late Portability Elections

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October 7th, 2014

We now have a new provision (although it has been around for a few years) that allows the unused portion of the first spouse’s estate to be “ported” over to the surviving spouse.  We call this portability.  There was a lot of confusion surrounding how to report this when the first spouse did not have […]


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