PCM Financial Analysis of Tillage Operations for Soybean Production
We’re excited to introduce ILSoyAdvisor readers to Precision Conservation Management (PCM). PCM is a farmer service program in Illinois and Kentucky that helps farmers [...]
What You Need to Know About Hiring Workers: How to Start Your Business on Payroll
As farm families across the Midwest get busier each year, the need for part-time, hired help becomes prevalent. However, it’s not as easy as [...]
Building a Successful Soybean Budget
Farming in the modern era is a skill that must balance biology and agronomy with cost and markets. Thus, it’s important to understand what [...]
A Farm Business’ Guide to 1099 Forms
It is important to understand the different 1099 forms as they are a necessary component of tax planning and preparation.
What Should My Adjusted Gross Income Be?
Each year taxpayers have the opportunity to work with their tax preparer to craft a year-end tax plan that provides a desired tax liability. [...]
End of Year Deadlines at the FSA Office
For most, the 2020 harvest has come to an end and now it’s time to quickly complete all the year-end tasks. It’s important to [...]
Depreciation: Starting with the Basics
Depreciation is a term you’ve probably heard your accountant use fairly often; understanding its full meaning and financial implications is important to make strategic [...]
5 Things to Have Ready for Your Year End Appointment with Your Accountant
And just like that, we have found ourselves at the end of another year. 2020 has brought its own set of challenges and opportunities [...]
The Bottleneck
Now that harvest is over, all of the bushels will soon be accurately counted and from the profit capital investment can be purchased. Regardless [...]
Steps to Creating an Entity
There are many reasons individuals decide to formalize their operation into a business entity. A variety of entity structures are available for business owners [...]
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