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The 12 Day Business Trip

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July 9th, 2014

Today starts my (its seems annual) 12 day business trip to the Midwest.  I start in the Minneapolis office for a couple of days of meetings with CLA staff and then head over to the Sioux Falls area for meetings with clients and prospects. I then head down to Omaha for a Monday seminar I […]


ARC-IC Allows for Maximizing Flexibility (Perhaps)

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July 8th, 2014

Under the new farm bill, Agricultural Risk Coverage (ARC) has two elective components.  You can either elect county coverage on a covered crop by crop basis (ARC-CO) or elect to have ARC apply to all crops grown on your farm (ARC-IC).  If you elect county coverage, you will be paid on each covered crop’s base […]


IRS Modifies Offshore Voluntary Disclosure Program (OVDP)

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July 7th, 2014

On June 18, 2014, the IRS announced new updated procedures for the voluntary disclosure program and new streamline filing procedures which in many cases substantially reduces the penalty exposure for non compliant taxpayers to 5% of the highest balance in foreign accounts and non-declared assets.  I have personally worked with clients that were involved in […]


The Continued Attack on Section 1031 exchanges

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July 3rd, 2014

In the FY2015 budget proposal released by President Obama back in March of this year was certain provisions of importance to farmers.  One provision is the permanent extension of Section 179 at the $500,000 level.  This would be a welcome change, however, as previously discussed in several posts, this will not happen until after the […]


Trends in Irrigated Ground

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July 1st, 2014

I have seen numerous farmers with farm ground in normally non-irrigated areas of the corn belt put in irrigation over the last couple of years.  Based on this, I thought I would recap the trends shown in irrigated ground from the 2012 AG census In 1997, there were 15 states that had more than a […]


IRS Releases Final Regulations on ACA Small-Business Tax Credit

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June 30th, 2014

The IRS released on June 20 their final regulations on the small-business tax credit for paying health insurance premiums for the business employees.  This credit has been available since 2010 and was at a 35% maximum level until 2013.  In 2014 and 2015 the credit increases to 50% for health insurance premium payments offered through […]


Transition Period for LGM-Dairy to DMM is Announced by FSA

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June 26th, 2014

The 2014 farm bill now provides for a new Dairy Margin Management (DMM) program.  Dairy farmers have been able to take advantage of Livestock Gross Margin-Dairy (LGM-Dairy) under current crop insurance provisions.  However, the 2014 bill provides that a dairy farmer cannot take advantage of both programs to prevent “double-dipping”.  In addition, the LGM-Dairy insurance […]


The US has Some Awesome Scenery

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June 25th, 2014

Today’s post will not deal with any tax issues and other farming related items, but rather, will share a few photos I took today on our drive from Jackson Hole, Wyoming to West Yellowstone, Montana.  We traveled through the Grand Tetons and Yellowstone National Parks and some of the best scenery in the US is […]


Is Low Section 179 Causing Low Equipment Sales?

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June 24th, 2014

Most of the equipment manufacturers have released their equipment sales for the last quarter and most of them reported lower sales for the first quarter of this year versus 2013.  We have seen some commentators attribute this to the current lower Section 179 tax deductions for this year and no bonus depreciation. However, when you […]


ARC-IC versus ARC-CO

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June 23rd, 2014

The FSA issued some regulations on the calculations of PLC and ARC late last month.  This notice provides a good overview of how the FSA will determine the payment calculations under PLC and ARC.  ARC is broken down into ARC at the County Level (ARC-CO) and ARC at the farm level (ARC-IC).  We had provided […]


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    Photo of 140 bpa wheat near Walla Walla

    16 hours ago

    Corn does well in Washington state. 55 at night 95 during the day plus irrigation 2 days ago

    If average cash rents drop $50 this fall and cash return is 2% equals drop in average land values of $2,500. We shall see. 2 days ago

    2 years ago corn + beans + wheat was almost $40. Now it is under $20. 2 days ago

    Great time with @MRRChip today on Market Rally talking about the new farm bill. 4 days ago

    Drove over 2,000 miles in last 12 days. Saw a lot of good looking corn. Beans not so much 6 days ago

    When you drive through Minnesota, South Dakota and Iowa this time of year you see a lot of corn and beans and not much else 2 weeks ago

    Possible another reason for high US corn yield estimates is acres switched to beans were lower yield corn acres 2 weeks ago

    Don't understand why nobody claims the USDA manipulates the data when the report is bullish 2 weeks ago

    USDA pegged lower corn production but if yields trends continue this will quickly change to production increase. 2 weeks ago