Farm Business Law Seminar

 The National Business Institute is holding a Farm Business Law Seminar on December 7, 2018.  Michelle Adler    will be presenting a discussion on Medicaid Planning for Farmers and  Tony Crowell  will be presenting a discussion on Financing, Buying and Selling Farm Land and Businesses. If you have questions regarding these areas, be sure to  call our office  so we can help you!

The National Business Institute is holding a Farm Business Law Seminar on December 7, 2018. Michelle Adler will be presenting a discussion on Medicaid Planning for Farmers and Tony Crowell will be presenting a discussion on Financing, Buying and Selling Farm Land and Businesses. If you have questions regarding these areas, be sure to call our office so we can help you!

2019 Tax Update

Tax update.jpg

Tax Change for 2019

The IRS has increased the applicable exclusion amount for estate and gift tax purposes and the generation skipping tax exclusion to $11,400,000 per person and $22,800,000 per married couple, for the calendar year 2019. Rev Proc 2018-57

The annual gift tax exclusion will remain at $15,000 for the calendar year 2019. Rev Proc 2018-57

USDA Announces Assistance for Farmers

 

     The USDA recently announced payouts under the Market Facilitation Program for farmers harmed by tariffs.  Farmers will be able to sign-up with the FSA after September 4, but don’t rush because FSA offices are still being trained. Initial payouts will be as follows:   Soybeans:  50% of bushels produced multiplied by $1.65 per bushel   Corn:  50% of bushels produced multiplied by $0.01 per bushel   Dairy:  50% of hundredweight produced multiplied by $0.12 per hundredweight    Pork : 50% of head produced multiplied by $8.00 per head  

    The USDA recently announced payouts under the Market Facilitation Program for farmers harmed by tariffs.  Farmers will be able to sign-up with the FSA after September 4, but don’t rush because FSA offices are still being trained. Initial payouts will be as follows:

    Soybeans: 50% of bushels produced multiplied by $1.65 per bushel

    Corn: 50% of bushels produced multiplied by $0.01 per bushel

    Dairy: 50% of hundredweight produced multiplied by $0.12 per hundredweight 

    Pork: 50% of head produced multiplied by $8.00 per head