If you are reading this, you probably know as well as I do that the trend in commodity prices has not been favorable to farmers over the last year or two. Margins for producers have become razor thin, and annual budgets do not paint as pretty of a picture as…
Our discussion topic is a review of a subject matter from January of 2018 — do landlords need crop insurance? I’ve made this comment previously and will again here: everyone has a different appetite for risk, varying circumstances cause each situation to be different. What risk(s) are present and, most…
The author and his son, Corey, utilize hundreds of Limited Liability Companies, or LLCs, in their respective practices to help solve clients’ various needs. I break down such uses between: An LLC is often used as the business entity of choice vs. a corporation for its simplicity of forming. The…
A major trend in American agriculture will be the acceleration of estate and transition planning. The transfer of wealth will also be a high priority item for the general population as $68 trillion of assets and equity will transfer between 2025 to 2040. With many elderly in the demographics, the…
This year marks the 39th year since the inception of the Conservation Reserve Program (CRP), a proactive program administered through the unique partnership of the U.S. Department of Agriculture (USDA), the Natural Resources Conservation Service (NRCS), and landowners across the country. Some may have initially thought CRP and similar land-based…
According to the most recent census from the U.S. Department of Agriculture, one-third of America’s 3.4 million farmers are over the age of 65. This statistic might not come as a surprise when you consider the demographics of your local farming neighborhood or perhaps even the age on your own…
It is amazing how time flies and seems to accelerate as one grows older. When looking out the windshield, the quarter-century mark is approaching quickly. It seems like only yesterday we were discussing preparation for Y2K when the clock was going to strike midnight and computer systems would shut down. …
Undoubtedly, most farmers would prefer to focus solely on the physical aspect of being a farmer, but unfortunately, there’s a whole other side to the occupation that needs regular attention. Bookkeeping, taxes, and legal planning are a big part of a successful operation, and many farmers have a team of…
Many of our widespread agricultural base of clients have, over the last several years, been presented opportunities to participate in an energy lease, whether solar or wind. Many of these leases were entered into years ago, most especially wind energy leases, and now are producing very significant income streams for…
Glad tidings readers! I trust all is well, and you are enjoying the start to 2024. Don’t forget your sweetheart, as it always seems to sneak up on me! The theme of this article is what makes a well-designed revenue policy. In my humble opinion, it depends. We all have…
