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Is Corn Drifting Away From Any 2014 PLC Payment?
As most of our readers are aware, we have posted numerous times on PLC and ARC. For several months the USDA has posted their monthly price for the corn 2014/15 MYA as being under $3.70. If my memory is correct, they got as low as $3.30 and possibly even $3.20 and for at least the […]
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More Than Half of Dairy Producer’s Enroll in Margin Program
The USDA just announced that more than 23,000 dairy producers enrolled in the new Dairy Margin Protection Program for 2015. As an example, in the state of Wisconsin more than 55% of the producers signed up and 55% of those that signed up did so at some level of buy-up coverage. The $4 level was […]
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USDA Announces More Than $18 Million to Support Training and Development for Beginning Farmers and Ranchers
The USDA announced on January 12, 2015 the availability of more than $18 million in funding to help educate, mentor and enhance the sustainability of the next generation of farmers. This support is available through the Beginning Farmer and Rancher Development Program (BFRDP), administered by USDA’s National Institute for Food and Agriculture (NIFA). The BFRDP […]
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IRS Opens FATCA Data Exchange Service
The Internal Revenue Service has introduced an International Data Exchange Service that financial institutions and tax authorities in other countries will use to report tax information under the Foreign Account Tax Compliance Act, or FATCA. Financial institutions and host country tax authorities will use IDES to securely send their information reports on financial accounts held […]
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Should I File By March 1?
Most farmers usually file their income tax return by March 1 of each year. If a farmer files AND pays their tax in full by that date, they are not required to make any estimated taxes for the year. If they do not file by March 1, then they are required to make one estimated […]
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Loss Limitation Eliminated?
For years beginning after 2009, farmers who received any direct or counter-cyclical payments from the USDA (under Title I of the Food, Conservation and Energy Act of 2008), any payment elected to be received in lieu of such payment, or any CCC loan, are limited in the amount of otherwise deductible Schedule F farming loss. […]
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Accounting Boot Camp
Today, the Farm Financial Standards Council is doing an accounting boot camp in St. Louis for farmers who want to get additional understanding of how to use accrual accounting in their farm operations. Accrual accounting does a much better job of representing your actual farm operation and in most cases even if you do not […]
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STRESS Equals Wedding
Normally, the mother of the bride would be feeling the most stress at a wedding. My oldest son got married on Saturday January 3, 2015 (and he definitely married up) and somehow my wife had no stress for this wedding and transferred it all over to me. First, on the day before the wedding, my wife […]
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Is California Egg Law the Wave of the Future for Farming?
A recent Business Week article highlighted the current California law regarding the amount of area that chickens are required to have in order for producers to sell eggs into California. The law was passed a couple of years back requiring at least 116 squares inches of space for each laying hen which was almost a […]
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Merry Christmas – 2014
I would like to extend our wishes to everyone for a Merry Christmas and a Happy New Year. I have traveled to almost all of the continents and I can safely say that our country enjoys more “gifts” than almost any other country in the world and we should be thankful for it every day. […]
