Tag: succession planning

With the tax deadline rapidly approaching, many family farms might be wondering how to maximize their tax deductions. Here are 5 tips to maximize your farm refund.  1. Ordinary and Necessary Expenses: Farm expenses can be deducted if they are accurately documented (receipts). Ordinary expenses are what is needed in order to run the farm and […]

Congress recently sent the biggest tax overhaul since 1986 to the President for his signature. And while there are many changes to the tax laws in the bill, an important one for farmers and ranchers has to do with the estate tax. While these changes to the estate tax will generally apply only to the […]

Implementing effective tax strategies throughout the year allows family farms to harvest many of the tax benefits available. Reducing the stress surrounding tax time is possible. Consult a professional who is up to date with the latest farm income and deductions to be sure you are capitalizing on all your options. In the meantime, consider […]

Hey Dad, this one’s for you. We want all the farm fathers out there to know how much they are worth! First and foremost, you are Father. Your wife and children look up to you and depend on you. You hold your family together, sitting at the head of the table, saying grace at mealtime. When […]

Summer and fall are times when farmers are baling hay and harvesting crops. Some school kids will be looking for summer and after school jobs on farms. There are various jobs that kids of different ages can do on a farm. Here, you will find some points on why hiring kids on the farm is […]

Because of their small size and stature, diary and meat goats are becoming quite popular. You can raise quite a few goats even if you only have a few acres. They also don’t eat as much as some other livestock. For this reason, more and more farmers are starting a breeding program. However, you have […]

Diary and meat goats are becoming common farm animals because they are smaller and easier to keep them other livestock. This means that they need less acreage and it also costs less to feed them. Because of this, they are more affordable. A breeding program can become quite profitable, as long as you do it […]

There’s an old saying that goes a little something like this, “Home is where your parents are…” And no matter where you grew up or how old you grow, there is a kid inside of us all who will always long to go back home.  When the road is too winding, when the day is […]

Changes in Child Labor Laws have been a hot topic in recent years. In particular, these changes affect minors (individuals under the age of 18) working in agriculture. If you own or operate a farm that employs young people, here is some important information you need to know about hiring kids to work on the farm. […]

Farm life has its high points. After all, there is nothing like working with your family to enrich the lives of others with the bounty of nature. Yet, the long hours and intense stress that accompanies working on a farm makes it ever so important for couples to focus on preventing farm divorces. Fortunately, keeping that […]