Farm Leadership
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Watch Out For Disregarded Entities When Someone Dies
Limited liability companies (LLC’s) are often a preferred entity choice for small businesses, farm operations, and rentals because they offer some liability protection for owners. Generally, LLC’s are treated as partnerships for tax purposes, and a Form 1065 partnership income tax return is required to be filed. In community property states, when a husband and […]
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Top Farmer – Day 2 – Last Session
The final session of the day was presented by Marcos Fava Neves of the University of Sao Paulo, Brazil on the Brazilian Agriculture Perspective. Marcos is based near Sao Paulo which does not have much soybean or corn production in the area. Rather, they are in the heart of sugar cane country and Ethanol plants. Marcos […]
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Top Farmer – Day 2 Session 3
The next session was presented by Jason Henderson who just started with Purdue after being with the Federal Reserve Bank of Kansas City. He presented a series of maps showing farmland values from 1900 to the 1980s using constant current dollars. In 1900, there were no counties that had average farmland values exceeding $3,000. Some […]
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Top Farmer Day 1 – Session 2
My next recap is in regards to the “Crop Markets in Transition” presented by Darrel Good of the University of Illinois. Darrel noted that there is the potential for a 14 billion bushel crop with added production in South America, it may be tough to meet the export estimates by USDA. Ethanol consumption should pick […]
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Top Farmer – Day 2, Session 1
Since I have my laptop with me today, I am going to try to do a separate post on each session for today’s Top Farmer Conference. Yesterday’s sessions were very informative and I hope today is even better. First session today is an update on Ethanol and Bio-Diesel production presented Scott Irwin of the University […]
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First Full Day of Top Farmer
Today was the first full day of the Top Farmer conference and it was packed with a lot of good sessions. Due to finding out that I had to get something done early this morning, I missed the most of the morning session, but here are my highlights from the rest of the day. Right […]
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The Start of the 46th Annual Top Farmer Conference
This afternoon is the start of the 46th annual Top Farmer conference done by Purdue University. About 100 farmers are attending the conference. The first session was done by Professor Mike Boehlje and Elizabeth Yaeger regarding farm risk management. This discussion on risk did not focus on price or yield risks, but rather other […]
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Trade The Farm
I am spending tonight with my friend Tommy Grisafi of Indiana Grain on my way to Top Farmer at Purdue tomorrow. Here is his trading setup and he is actively trading grain contracts as I type this. If any of our readers are going to be at the Top Farmer conference, please stop me and […]
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Employer Mandate Delayed for One Year
One of the major initiatives of ObamaCare was the mandate for employers to either provide health insurance or face possible extremely steep penalties for not providing health insurance or providing insurance that was too costly. This mandate was to take place starting January 1, 2014. The mandate applied to employers with 50 full-time equivalent employees. […]
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Are You Ready for Your $1 Excise Tax Filing Requirement!
Many farmers have taken advantage of a self-insured medical reimbursement plans or other similar plans. In many cases, a farmer is able to deduct medical expenses that they might otherwise not deduct due to the 10% of AGI limitations or they do not itemize their deductions. As part of the Affordable Health Care Act (ObamaCare), […]