Navigating uncertainty is the key to keeping farm operations going during the COVID-19 pandemic, writes Gil Gullickson in a recent article for Successful Farming. The author recently attended a webinar that offered the following tips for farm managers:
Be mentally prepared for uncertainty and unpredictability.Make the difficult decisions necessary to best position your organization for …
Inheritance is a complicated process, particularly when farmland is involved. In a recent piece for Successful Farming, author Jodi Henke spoke with a University of Nebraska educator, Allan Vyhnalek, about the complications that come with farmland inheritance.
Vyhnalek pointed out the following areas of consideration for people who inherit farmland:
The tax consequences of inheritance—there can …
One of the benefits included in the COVID-19 epidemic stimulus package is the ability of an employer to defer payment of the employer’s share of certain federal payroll taxes. The deferral applies to the employer’s 6.2% share of the Social Security (OASDI) payroll tax.
The deferral does not apply to the employer’s 1.45% share of …
If you’re a small business owner struggling financially due to the COVID-19 outbreak, there is help available. The SBA is offering Economic Injury Disaster Loans of up to $2 million – here are answers to the FAQs.Q: How much funding can I get?Small businesses that need support through the disaster recovery period can borrow …
As part of the stimulus package to help offset the financial damage inflicted on businesses as a result of the COVID-19 crisis, Congress restored the ability of businesses that suffer a loss to carry those losses back and recover taxes paid in prior years. The limitation on business interest deductions has also been relaxed, …
As the farming industry undergoes changes precipitated by
new generations, new technologies, and new norms, succession becomes more and
more complicated. A recent article for Successful Farming discusses how
communication can have a big impact on farm succession.
Bad communication—or loss of communication—can have a big
negative impact. It often results in loss of trust between the parties
involved. …
Data security in the agriculture industry doesn’t just refer
to keeping online files safe from hackers. In a recent article for PrecisionAg,
author Reinder Prins explores what data security looks like for farmers.
Though some farmers do store their information digitally, a
majority still rely on paper files or records stored on a local computer. The
issue with …
In 2020, many industries are struggling with finding and
retaining qualified labor, and agriculture is no exception. Conversely, many
employees in the agriculture industry say they are unable to find good jobs.
What’s behind this? A recent article for AgWeb attributes it to
transitions currently occurring in the U.S. workforce.
What is changing in the workforce? The article …
The agriculture industry is a cyclical one—this is helpful
to remember during times of downturn, such as the industry is currently facing.
If you can ride out the low, it will be followed by a new high. A recent
article for Successful Farming presents four different financial tools
that can help agriculture businesses stabilize operations through tough times
and …
Technological innovations are having an explosive impact in
the manufacturing sector. A recent article from Industry Week makes some
predictions for the direction of manufacturing technology in 2020.
Additive Manufacturing (AM) – This refers to
technology such as 3D printing, where materials are joined together, usually
layer by layer, to create new objects. Advances in this area have made …
