The One Big Beautiful Bill Act passed with what appears to be a whole lot of changes from both a tax perspective and government programs affecting farmers. The bill has received substantial media coverage, but what are the key takeaways concerning ag? Some provisions sound good on paper but have…
Growing up on the farm provided me with several opportunities to operate equipment with manual transmissions. Several sets of gears allowed the operator to find the very best speed/power for any circumstance, whether in the field or out on the road, empty or fully loaded with produce. One gear in…
The intent of this article is to illustrate my opinions on how an LLC (a Limited Liability Company) can be utilized to accomplish leveraging valuations of assets through the concept of discounting. An example to start Let’s start with an example. Assume a husband and wife (H/W), a farm family…
The inspiration for this article occurred on the convention floor of the recent Berkshire Hathaway annual meeting. This was a historical event as the CEO, Warren Buffett, announced his retirement. In his four hours of questions, answers, and profound thoughts, he mentioned managing a business in an unsettling type of…
Glad tidings readers! Our topic of conversation is a product that is not necessarily new, though it’s gaining traction and increased interest due to recent enhancements from the Risk Management Agency. When introduced in 2020, the Enhanced Coverage Option (ECO) premium costs outweighed the coverage benefit for many producers, making…
The ag commodity market has never been for the faint of heart, and today’s farm economy is testing even the most seasoned farmers. Between rising input costs, low grain prices, and high interest rates, many producers are tightening belts and looking for every possible edge. Surviving — and even thriving…
With over 10 million miles of air travel — equivalent to 18 trips to the moon and back — I still find turbulence unsettling. The same applies to managing an agricultural business amid today’s economic uncertainties, driven by geopolitics, conflicts, societal trends, and Mother Nature. Navigating this requires a focus…
For many people, the idea of long-term financial planning may seem like that dentist visit or home repair project you keep putting off — you know you’ll have to do it eventually, but actually sitting down and organizing your budget, portfolio, estate, and retirement plans, all while juggling a career,…
Lately, I’m seeing a number of new clients who have done their estate planning with some other law firm, and, as a part of their planning, a revocable grantor living trust has been utilized for the client. I’ll always ask the client (and of course I already know the answer!),…
Glad tidings and happy new year! Yes, we’re into February, but it’s still the new year, yes? I don’t believe “you have just 330 +/- shopping days until Christmas” would be preferred, though I’ve been wrong before. Let’s chat about premium subsidies for multiperil crop insurance and the basic premise…
