Many grain farmers are anticipating unusually high income tax liabilities when they file their 2011 tax return. Even if they did not have a bumper crop, grain prices have been well above normal for the year. If a farmer is charitably minded, this would be a good year to consider making a donation of grain to their favorite church or charity. The tax advantages of donating commodities far outweigh those for a contribution of cash.
With farm incomes up, taxes should be up too, but aren't. It appears farmers are deferring a large portion of income tax. They should be aware of potential problems this may create....More
If you’re frustrated with shuffling flash drives between the office and the field, online data backup and transfer services may be the answer to your thumb drive woes....More
FBS Systems, Inc. has added the ability to automatically feed current commodity prices from DTN into its integrated management software suite, a first for the on-farm records software industry, the company claims....More
Section 179 of the IRS tax code offers to farmers and small businesses a 100% deduction on qualified equipment up to $500,000 for 2010 and 2011....More
Farmers, crop consultants and ag retailers who are frustrated by the complexity of many programs used to generate variable-rate fertility recommendations could find simplicity nirvana in a new web-based program called FieldRx....More
