Taxes and Finance
Farmers can harvest incredible value by stress testing their business margins, says Chris Barron, a national financial consultant for Ag View Solutions and Iowa farmer.
While the fall of Silicon Valley Bank and Signature Bank is unique, the situation does provide lessons for farmer’s financial management and risk management.
Rate increases can put a squeeze on farm profitability. Have you factored in how these cost-of-money increases affect your storage costs?
Agricultural lending by U.S. farm banks increased 8.1% in 2022 to $103.1 billion, according to the American Bankers Association’s annual Farm Bank Performance Report.
With a focus on networking and business education, the 2023 Top Producer Summit welcomed farmers and ranchers to Nashville, Tenn., on Jan. 23-25.
The July Ag Economists’ Monthly Monitor showed several key changes from June including a bigger cut to corn and soybean yields, a drop in corn and soybean prices and more bullish cattle and hog prices.
If your spouse dies, look into filing Form 706 Federal Estate Tax Return with the IRS. Taking that step could help you protect farm assets so they pass to your heirs without estate taxes. The process isn’t automatic.
As we look ahead, here is what I have seen the best operations do in both good and challenging years.
Meanwhile, service prices and the core index (which excludes food and energy) remain high, with the core CPI descending to 4.8%.
Rewarding your team through unique types of compensation that value people vs. a position can build a thriving culture for your operation.
The Ag Economists’ Monthly Monitor is a new survey of nearly 50 economists. Most ag economists agree the next 12 months could produce more financial pressure for agriculture, but their views vary depending on commodity.
Wednesday’s interest rate decision broke a streak of 10 straight meetings where the Fed announced higher rates. Officials say another half-a-percentage-point hike is likely yet this year.
The 2023 crop is in the ground and growing steady, just like ag’s financial risks this year, according to Alan Rosendahl, farmer and senior vice president at Iowa State Bank in Kesley, Iowa.
The latest Ag Economy Barometer shows farmer sentiment has soured as crop prices have tumbled over the past month, but it’s not all gloom and doom. Strong working capital can help address the downturn in farm country.
If you’re ready to meet with an alternative lender, here are some points to keep in mind.
Acid-test ratios shows if you have sufficient short-term assets that can be converted to cash to cover short-term liabilities.
Just as your crops will be doing soon, financial risks are growing this year.
Farmers are facing a headwind other than the weather heading into the spring planting sesaon. Credit is tightening as farmers finalize or renew operating notes or loans for capital purchases.
Having another financing option can make all the difference when the right opportunity comes your way.
A proactive plan allows you to be ready to sell when opportunities arise as well as leave the upside open for greater profitability.
USDA’s first official net farm income forecast shows an expected 16% drop in 2023 net farm income, largely due to a decline in commodity prices and government payments with higher expenses and costs at the farm level.
Yes, basic insurance for the farm is pricey. But an umbrella policy is usually more palatable, and it could literally save your operation in the event of a wreck or other tragedy, says Purdue’s Fred Whitford.
From artificial intelligence and changes in energy, to the increasingly unpredictable conflict in Ukraine, John Phipps thinks 2023 will be déjà vu for many.
As a 21st century farm manager, you’ve invested in high-tech tractors, more efficient irrigation systems and automated milking parlors. But what about your farm office?
John Phipps looks back at 2022 and thinks much of what made 2022 memorable will likely be noteworthy in 2023. From solar energy to supply chain, John takes a look back at some unfinished business in 2022.
Is there a useful explanation of crypto? As John Phipps points out, the FTX fiasco demonstrated crypto is unregulated, and says if you can’t explain it, don’t invest in it, no matter how attractive the reward.
Here are four proactive ways to prepare your farm business for 2023.