The Farm CPA
Paul is now part of the fourth generation in America that is involved in farming and hopes the next generation will be involved also. Through his blog he provides analysis and insight to farmer tax questions.
Tomorrow's Top Producer Recap
Jan 31, 2012
Today was the Tomorrow's Top Producer conference at the Chicago Hilton. Several speakers gave great presentations on various subjects. Chris Barron of Carson and Barron Farms, Inc., gave a very interesting hour-and-a-half seminar on creating an effective collaboration between multiple generations of farmers and farms. This kind of collaboration does not utilize a formal partnership for the operation, but rather gets like-minded farmers together to take advantage of cost savings and efficiencies, while still maintaining the most important things, such as family, friends and relationships.
Most of the partnerships that developed in the 1970s and 1980s to take advantage of cost savings have failed, since the most important object for them was purely financial. For Chris and his "partners," the nonfinancial considerations are more important. That is why I think we will see more and more of this type of arrangement, especially with new combines in excess of $350,000, etc.
There were several break-out sessions and I attended one on the quest for 300-bu. yields. There are seven key components that get you to this number, and some are more important than others. Since in our area, irrigated corn is consistently in the high 275-bu. to 300-bu. range, these numbers are very realistic.
I did one break-out session today, and I look forward to Thursday, when I will do three of them at the Top Producer Seminar.
I will keep you posted.