Farm Business - General
Former Top Producer award winners reveal their management goals for the year ahead.
Data from Iowa State and Peoples Company shows farmland values have softened this year, but by how much (and why) might surprise you.
With 30 tax provisions set to expire at the end of 2025, four experts explain how and when you could be affected.
As you do your tax planning at year-end, be sure to review any assets you have held for at least a year to determine if your taxable income remains in the 15% tax bracket.
In the third quarter, farm income and loan repayment rates weakened.
Here are the most common types of culture in a business and the red flags to look for in yours.
Proactive management and strategic investment in both land and machinery are critical for thriving amidst shifts in the agricultural sector and broader economic turbulence.
Prioritizing culture is often overlooked when it comes to employee management and retention.
Farmland currently appears to be something akin to a modern-day gold rush. It can’t be bought up fast enough, while per-acre prices fetched for recent sales set record high after record high.
The new numbers show that net farm income will fall $6.5 billion or 4.4%. This is compared to projections released in February suggesting it would fall 26%.
Agriculture can sometimes act as a buffer during broader economic recessions, as demand for essential food items tends to remain relatively stable. However, when multiple indicators align in the industry, it can signal a recession.
Even though many crops still stand in the fields, September and October are excellent times to meet with your tax accountant and start looking ahead for tax purposes.
Tips for producers to maximize making money now that the profit equation is finally in favor of dairy.
Expanding your dairy farm from one location to multiple can be a game-changer for your operation. However, this leap also comes with its own set of complexities and challenges that require careful consideration and strategic planning.
Testimony at House Ag hearing Tuesday captured the downturn and anxiety in the ag sector.
Cory Reed, president of Worldwide Agriculture & Turf Division, spoke about layoffs, citing lower demand due to falling net farm income, higher interest rates and market volatility.
Investing time now in thinking about who you hire and why you hire them will pay more dividends than most other things you can do.
Headwinds in interest rates, inflation and commodity prices seem to have little impact on land values, though single-digit decreases in Indiana, Kentucky, Michigan and Ohio have been reported.
The Federal Reserve voted to keep the benchmark interest rate steady despite a sticky inflation proving to be a challenge. Where could interest rates go? A conversation with Austan Goolsbee, president of the Chicago Fed.
Providing housing for farm workers is an excellent way to increase employee retention, heighten morale and boost performance.
The good news is there are legal devices to do whatever a farmer wants to do. The key is using the right mechanisms for the relationship piece.
There’s a serious lack of communication between generations, and procrastination and conflict avoidance are killing agriculture, says Elaine Froese, a farm family transition expert.
When raised by farmers, our earliest lessons in leadership, stewardship and life in general occur with the rhythms of the seasons. It turns out, even in a season of loss the learning continues.
“If handled improperly, transition events can be the death of your business. Or it can strengthen your business and clearly outline who you are and where you want to go,” says Dick Wittman.
How are you showing up on the farm? Do your actions meet up with your goals? Rena Striegel, a farm succession planning consultant, encourages the next generation of on-farm leaders to do some self-reflection.
Formulating your farm’s succession plan is likely not a straight line. Polly Dobbs, an Indiana attorney who is part of a seven-generation farm family, says it’s important to stay focused on your end goals.
The clock is ticking — and the current estate-tax exemption is set to plummet at the end of 2025. The smaller exemption coupled with inflation and land values likely means increased assets and estate-tax rates.
Know what it takes to become a high-level leader.
We asked previous awardees of the Top Producer Next Gen Award to reflect on lessons they’ve experienced in business and management.