Business
What regrets do you currently have in regards to leading and managing the growth of your business?
Newcomer diversified personally as he took over the farm by working as a seed rep, eventually growing seed for companies, selling crop insurance and slowly adding acres along each step.
This session covers the steps necessary to give the next generation the best chance at being successful as they traverse from grunt to CEO and many steps in between.
A successful transition of a farm requires business continuity planning, business succession planning, personal financial planning and estate planning. Learn how to make these pieces fit together for your operation.
What makes a good family farm transition? It is difficult to achieve a good farm transition without at least doing well in each of these C’s.
Estate planning laws aren’t different for farmers versus others; however, there are variances, such as vocabulary, emotional ties to land, operation versus land, own versus rent, personal financial statement and deeds.
Here’s a checklist to use when reviewing your trust and will.
If you have decided to make succession planning a priority, we want to help you follow-through on that decision.
With so many components involved, it makes sense to periodically review your buy-sell agreement.
As you develop your estate plan, consider opportunities for charitable giving.
President Barack Obama is proposing a fundamental change in tax policy that would limit what many Americans can leave to their heirs.
Laws, circumstances and assets change over time. Do your estate planning documents reflect your current goals and wishes?
Transitioning a business from one generation to another is complicated. Add the complexity of being family owned and operated, and you have an entirely different set of challenges.
Estate planning laws aren’t different for farmers versus others; however, there are variances, such as vocabulary, emotional ties to land, operation versus land, own versus rent, personal financial statement and deeds.
There’s a major misconception when it comes to transitioning the farm. John Phipps kicks off a multi-part series about planning for the next generation in farming on U.S. Farm Report.
Up to $12.06 million can be passed to your loved ones upon death, exempt from federal estate tax. While living, you can also gift $16,000 annually to as many individuals as you’d like. Of course, some exceptions apply.
Married and on the farm? If one spouse dies, make sure the surviving spouse works with an adviser to file IRS Form 706 to benefit from any unused federal gift or estate tax exemption. You could save millions.
Even though the transfer tax might not happen, it is likely we will see major changes in gift taxes.
Virtually all farm estate outcomes will compromise fairness and farm continuity, perhaps settling for equal dissatisfaction. John Phipps explains why.
Ford’s newly revealed electric version of the F-150 pickup doubles down on a bet that the company can beat Tesla, convincing long-time fleet and business customers that going electric saves money.
Outline policies and procedures to promote safety.
If you’re in the market for a new truck, you may be waiting a while longer. Major auto and truck manufacturers have announced extended shutdowns and it’s the chip shortage still to blame.
Ford, Chevy and GMC pickups have sat idle on dealer lots across the U.S. as manufacturers have scrambled to find the materials needed to finish them.
Once again, state government officials have admitted to surveilling private citizens with a no-warrant trail camera. How many no-warrant government cameras are active on private land?
The bull-run on Iowa farmland sales continues to play out in August. Less than two weeks after a farm ground sold for $19,000 per acre in Iowa, a new record sale was posted in Iowa Friday of $22,600 per acre.
“All I could see was his head.": Minnesota Farmer Reflects on Grain Bin Rescue
“What we’ve learned from the farmers we can’t measure– it’s the most important thing for us in designing this robot,” Ben Johnson says.
Effective communication between chemical applicator and farmer is a key element in helping prevent costly and dangerous misapplications.