Updated worksheets are available for farmers to utilize in 2015. An Operator's Cash Rent worksheet is useful for farmers to calculate what cash rent they can afford in 2015, and an Acceptable Crop Price worksheet is useful to determine break-even prices for crops. The worksheets were created by David Bau, an Extension Educator in Agricultural Business Management. Worksheets are available for download below in both Excel and Word forms:
Written by C. Robert Holcomb and Gary Hachfeld, Extension Educators. This one page fact sheet includes information on Disaster and Crop Insurance Payments and their effect on your income tax return. Any crop insurance proceeds you receive need to be included as infom on your tax return. You generally include the income in the year the payment is received. Crop insurance also includes crop disaster payments received from the federal government as a result of destruction or damage to crops, or the inability to plant crops, because of drought, flood, or other natural disaster.
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Current Crop Production Research, Financial Trends from the Southwest Minnesota Farm Business Management Association (SWMBFMA) as well as UMN Agriculture and Business Management Updates on Land Rents, Estate Planning and Farm Tax issues will also be presented by UMN SW Outreach and Research Center Staff and Extension Educators.