• By: | Trackback Link | No Comments

    August 17th, 2015


    First Day of the Midwest Crop Tour

    Today was the first day of the Pro Farmer Midwest Crop Tour.  This is my sixth straight trip on the tour and after spending the last three years on the Eastern Leg, I decided to spend this year on the Western Leg.  My expectations for today was to see good crops in South Dakota and […]

    More
  • By: | Trackback Link | No Comments

    August 15th, 2015


    The ProFarmer Midwest Crop Tour

    This will be my sixth year in a row of doing the Pro Farmer Midwest Crop tour.  My first two years I did the western leg, the last three were on the eastern leg and this year I go back and tour the western leg.  Here is a map from Pro Farmer showing the locations […]

    More
  • By: | Trackback Link | No Comments

    August 13th, 2015


    One Last Combine Ride

    Most of the wheat harvest is done for this year near Walla Walla, however; I was able to get one last ride in today on one of my client’s Case IH 8010’s (have to plug those red machines all I can).  They were finishing up a field just north and a little west of Dayton, […]

    More
  • By: | Trackback Link | No Comments

    August 12th, 2015


    How Might ARC-CO Payments Look Next Year

    We have final MYA prices for wheat, barley and oats.  Based on those prices, the benchmark price for each of these crops for the 2015 crop is as follows: Wheat $6.70 up 10 cents from $6.60 Barley $5.57 up 12 cents from $5.45 Oats $3.48 up 23 cents from $3.25 We do not have final […]

    More
  • By: | Trackback Link | No Comments

    August 11th, 2015


    Don’t Use Your Product When Preparing a Tax Return

    In the Beck v. US case decided by the Tax Court yesterday, it is apparent that you should not be using marijuana when preparing your income tax return (I am not sure if the Mr. Beck was or not; I will let you decide).  The State of California allows marijuana to be disbursed for medical […]

    More
  • By: | Trackback Link | No Comments

    August 6th, 2015


    How Much Greater Will 2014/15 Farm Program Payments Be Than CBO Estimate

    Gary Schnitkey and Carl Zulauf from the University of Illinois just released a new estimate of total estimated ARC/PLC payments for the 2014 crop year (to be paid after September 30, 2015).  Their report estimates total farm program payments of about $5.7 billion for this year.  In their summary and commentary section, they indicate it is […]

    More
  • By: | Trackback Link | No Comments

    August 6th, 2015


    Rebroadcast of AICPA Farm Tax Update Seminar

    As many know already, Chris Hesse and myself presented a Farm Tax Update seminar in conjunction with the AICPA Ag Conference in Indianapolis on July 13.  This seminar was videotaped and will be rebroadcasted on September 3.  If you are interested in viewing the broadcast and getting 8 hours of CPE, here is a link to […]

    More
  • By: | Trackback Link | No Comments

    August 4th, 2015


    S Corporation Due Dates

    In my post from Monday regarding the new dates for corporations and partnerships income tax returns, I failed to mention that S corporations will now have the same due date as partnership returns or March 15 for a calendar year return.  C corporations will be a month later (except for those pesky June 30 year-ends […]

    More
  • By: | Trackback Link | No Comments

    August 4th, 2015


    Day 1 of the NSAC Annual Meeting

    I am attending the annual National Society of Accountants (NSAC) annual meeting in Denver.  For those of you who work with cooperatives who are not members of the NSAC, I would strongly encourage you to become a member. There are numerous education opportunities, resources, and great networking opportunities available. Also, if anyone of you reading […]

    More
  • By: | Trackback Link | No Comments

    August 3rd, 2015


    The June 30 C Corporation Due Date

    Yesterday we reported on the changes to due dates for partnerships and C corporations. One of the oddities was that June 30 fiscal year C corporations would keep their current due date of September 15 until 2025 while other entities got an extra month. I think I have now figured out this oddity. The fiscal […]

    More