News
Today’s agriculture headlines and expert perspectives serving farmers, ranchers, crop consultants, livestock nutritionists and the entire U.S. ag community.
The Farm Journal Legacy Project continues its mission to help families protect their ability to continue farming.
Whats the difference between equal and fair in succession planning?
A properly designed succession plan creates a better outcome for farm owners and their successors.
The buy-sell agreement is an unsung hero of successful farm transitions.
Farm Journal Legacy Project workshops bring key elements of a succession plan to life.
Use upcoming meetings to prepare for a successful 2020.
Campbell Soup Shifting Canadian Production to Its U.S. Factories
The Trump administration released a summary of its sweeping tax reform plan Wednesday that has some considerable changes – including repealing the so-called death tax, which is sometimes criticized as a hardship for small businesses and farms.
New and expanded tax incentives for farmers and small businesses provide more flexibility in tax management this year.
Here’s a quick rundown of changes farm managers should pay close attention to this year.
Farmers still face many unknowns in regard to the new tax law, says Paul Neiffer, tax principal with CliftonLarsonAllen.
There are steps you should take to ensure you’re able to live the life you desire once it’s time to pass the management reins to the next generation.
Beware of changes that could increase your payment
Newly revised numbers from the Commerce Department are indicating the gross domestic product (GDP) of the United States increased 3.1 percent from April to June, the fastest growth rate in more than two years.
Father-son duos take charge of their transition timelines.
Laws, circumstances and assets change over time. Do your estate planning documents reflect your current goals and wishes?
How can you prepare your successor and step down from being the manager? Danny Klinefelter, professor and Extension economist at Texas A&M, says families should follow these steps.
The Farm Journal Legacy Project Advisory Team shares tactical steps in how you can craft a successful plan for your farm.
Effective communication skills help family farms thrive
It is estimated that less than one third of farms have a designated successor in the family. This suggests two things. One, there are opportunities to farm. Two, it doesn’t have to be a relative to provide the opportunity.
We see advice and suggestions on farm succession plans, but rarely an example of what the young farmer actually experiences.