Farm Operations

Enrollment for Dairy Margin Management Program Begins September 2

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August 28th, 2014

The USDA announced today that the new Dairy Margin Management Program (MPP) will be open for enrollment starting next Tuesday, September 2, 2014.  Enrollment will end November 28, 2014 and dairy farmers will be able to retroactively enroll back to September 1 for 2014 and enroll for all of 2015.  The elections are separate for 2014 […]

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FBS Conference – Hedging Accounting and Taxation

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August 24th, 2014

I will be presenting at the FBS Systems Annual Conference in Moline, Illinois on Tuesday August 26, 2014.  This is a full day workshop in conjunction with Norm Brown (owner of FBS Systems) on hedging accounting and taxation based upon the standards issued by the Farm Financial Standards Council. This workshop will review the standards, […]

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One-Third of Americans Lack Retirement Savings

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August 22nd, 2014

I came across this article recently and it highlighted a retirement savings issue many people face, especially those that are self-employed. “Many U.S. households are not adequately prepared for retirement, according to a new report from the Federal Reserve that found 31 percent of non-retired respondents indicating they have no retirement savings or pension, including 19 […]

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Mid West Crop Tour – Final Conclusions

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August 22nd, 2014

I was hoping to write this post last night, but dinner, presentations and then chatting with all of the scouts meant I did not get back to my hotel room until almost Midnight. My key theme for this crop tour is “Can the Great Eastern Crop Lift Up the Not-So Great Western Crop”?  Our tour […]

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More than 100 but Less than 500

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August 20th, 2014

When a farmer or taxpayer owns an S corporation that incurs a loss, the farmer must show that they have materially participated in the companies operations in order to deduct the loss.  The slam dunk test is that the owner works for more than 500 hours.  If the owner works for less than 100 hours, then […]

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Mid West Crop Tour – Wednesday

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August 20th, 2014

What a difference a day makes.  On Tuesday, we saw really good corn in Indiana and slightly better than average corn in Eastern Illinois. I woke up this morning expecting to see excellent corn in the rest of Illinois and pretty good corn in Iowa. We left Bloomington and headed toward Peoria to get started […]

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Mid West Crop Tour – Monday’s Recap

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August 18th, 2014

This is my fifth year of the Mid West Crop Tour and I must admit this is the longest day so far. We left Dublin, Ohio this morning around 7 am and headed north to Bowling Green, Ohio and then turned west on the north side of Fort Wayne, Indiana and then turned south toward […]

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The Mid West Crop,Tour Begins

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August 17th, 2014

The Eastern Leg of the Mid West Crop Tour met up at a hotel in Dublin, Ohio tonight and got instructions for this years crop tour. A nice new feature for this year is the introduction of an App to record our counts and then submit them electronically. This should allow Pro Farmer to get […]

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Mid West Crop Tour

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August 14th, 2014

Pro Farmer conducts a Mid West Crop Tour each year.  There are two legs to the tour.  The Eastern Leg starts in Columbus, Ohio this Sunday night and on Monday, about 11 routes are conducted from Columbus to Fishers, Indiana.  These routes will go over the exact same roads as in previous years, however, the […]

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How Does Section 179 Work?

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August 11th, 2014

A reader sent us the following question: “I am wondering how many dollars worth of used machinery I can purchase and use for 2014 income deduction. I do not understand Section 179.” I get this question fairly often especially regarding how much Section 179 farmers can use for 2014.  The current law is that a […]

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