Taxes and Finance
While prices might be strong, what those bushels will buy isn’t what it was pre-pandemic.
As the conflict between Russia and Ukraine continues, soaring crude prices mean higher pump prices in the U.S. What are gas and diesel prices in your area?
Many farmers looked at transferring assets to the next generation in 2021 via trusts. One trust option to consider is a Spousal Lifetime Access Trust (SLAT).
Farm lender Farm Credit Mid-America giving $210 million back to customers per cooperative patronage.
There are issues on multiple fronts, including worries about higher energy prices and the potential for “cyber attacks” in the U.S.
If a farmer puts pen to paper in 2022 and sees black, where should the potential profit be placed?
Inflation is hitting headlines after an unprecedented run of low inflation. It’s been 12 plus years since it managed to creep far above 2-2.5%. John Phipps explains what’s being overlooked in the inflation discussion.
New federal requirements for a CDL take hold Monday, and it could have a major impact on hauling grain and livestock more than 150 miles from your farm. It could also cause an even bigger shortage of truck drivers.
No matter where you travel across the country right now, farmers share similar concerns. The latest Ag Economy Barometer fell to its lowest reading since July 2020 as the input situation weighs outlooks.
Quick, how do you define growth in your business?
On Dec. 10, 2021, a tornado tore across Kentucky demolishing areas in its path. Farmers and state leaders say it will be a long road to recovery with trouble sourcing even enough fencing supplies to rebuild.
2021 was a strong financial year for many farmers. For 2022, input costs are rising rapidly. One ag lender cites $700 per acre in some scenarios. That means farmers will need strong yields this season to break even.
It is likely you will need to report all current business entities to the government in 2023. Any new entities must file within 14 days of formation.
I have long maintained everyone should be required do their own income taxes.
With tax season fast approaching, we pulled this great John Phipps column from the Farm Journal archives.
This data confirms the obvious — there is plenty of income and cash in farm country and is being reflected in the record prices being paid for farmland.
The world is transforming as the COVID-19 pandemic advances technology and cultural shifts in how business is done.
Andrew McCrea conducted field trials using Pivot Bio PROVEN® 40 on his farm. In this article, McCrea summarizes his take on those trials and why he’s reconsidering how he uses nitrogen for the 2022 growing season.
Unexpected expenses arise all the time, especially on the farm.
Farmers often ask if they can own farmland in an IRA. The technical answer is yes. But the more important and practical answer is you typically should not own farmland in an IRA.
It’s been a good year for fertilizer stocks. The top fertilizer companies in North America posted big stock gains this year, with some on pace to see their best year since 2009. Joe Vaclavik explains what it means.
Trade volume slipped between July-September due to supply chain disruptions, shortages of production inputs and rising COVID-19 cases, the WTO said in a statement on its website.
Our farm and seed team makes a “lessons learned” list at the end of harvest to fix and hopefully improve on issues from the prior year.
As inflation continues to climb in the U.S., does the increase in value of capital assets keep up with inflation in the end? John Phipps answers a viewer’s question in Customer Support.
Saudi Arabia’s energy minister said on Monday that oil markets could face a dangerous period as reduced investments in exploration and drilling threaten to cut crude production by 30 million barrels per day by 2030.
During a rare mid-December tornado outbreak, Mayfield Grain Company in Mayfield, Ky. took a direct hit as portions of the facility were shredded by the powerful storm. Papers from the facility were found 98 miles away.
As U.S. consumer spending and excess savings are both on the rise, John Phipps says the pandemic stirred up the status quo, and now there’s a key question economists are asking as the calendar flips to 2022.
Oil prices were on track for their biggest weekly gain since late August, with market sentiment buoyed by easing concerns over the Omicron coronavirus variant’s impact on global economic growth and fuel demand.
Giving of our time, talents and money is an important part of helping others.
Some of the best farm operators I know have had enough with complexity. They pride themselves, and their operations, on being simple.