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The weather patterns for the 2021 growing season have been unusual, to say the least. Many have compared 2021 to 1988, but those farming in 1988 remember even tougher growing conditions. There were 39 days with temperatures above 90 in 1988 in Fargo and 40 equally hot that year in Grand Forks. Rainfall has been very short for most of ND, SD, and western MN in 2021.
Looking to build your farm business brand online and engage a broader audience? With over 1 billion users, Instagram is one way to connect with current and prospective customers, and improve your online presence. Here are some basics to get familiarized: Professional Instagram Account vs. Personal Profile A personal account is used to connect with friends, family and businesses, whereas a Professional Instagram Business Account is best used for marketing your business.
Because good ideas are too rare, it's a real joy when you hit a homerun with a great idea. Such is the case with our Polyface Gatherings this year. That idea came to me following the pop-up Weston A. Price Foundation (WAPF) shindig here last fall when the Atlanta hotel suddenly canceled their national conference. WAPF staffers and friends had no time to book somewhere else and reached out to me about hosting something here at the farm.
Many of you know that I started a podcast for Top Producer back in April called the Farm CPA (yes, I know that is very original). We try to have a release every Tuesday and so far I think I have met that deadline. The podcast is primarily a conversation with farmers but we have had various other sessions with people associated with ag. Sara Schafer, the editor of Top Producer recently did an article on how these farmers define success.
There are a multitude of social media platforms to choose from these days! The good news is, you don’t have to use every platform to market your farm. As a powerful visual medium and storytelling tool (aren’t vegetables and baby animals the most photogenic out there??), Instagram is an effective outlet to engage with your audience, connect with the farming community, and convert followers into customers.
Email is probably the single most important tool in your marketing toolbox. If you’re not using email marketing to promote your business already, here are three reasons why you should make it a top priority: Audience – Everyone who uses the internet on a regular basis has an email address and 91% of consumers check their email on a daily basis.
In our discussions with farmers many state that they plan on signing up for social security at age 62 since they don’t trust it to be around for all of their lifetime. However, if they sign up for social security before their normal retirement age (NRA) which ranges between age 66 and age 67, you are subject to an earnings test. If you are born after 1959, the NRA is now age 67.
Due to possible major changes in gift and estate taxes by year-end, the use of an Intentionally Defective Grantor Trust (IDGT) is becoming more popular for making large gifts in 2021. But what is an IDGT. It is an irrevocable trust that will remove the contributed assets from your estate but you will continue to be taxed on the income during your lifetime.
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Due to possible major changes in gift and estate taxes by year-end, the use of an Intentionally Defective Grantor Trust (IDGT) is becoming more popular for making large gifts in 2021. But what is an IDGT. It is an irrevocable trust that will remove the contributed assets from your estate but you will continue to be taxed on the income during your lifetime.
What are you pondering? Fortunately personal pondering has not yet been censored; we can do it in the privacy of our own heads. I don't have answers for everything, but pondering can be helpful. While this list is not comprehensive or meant to offend or even offer answers, it opens long chains of if this, then that, and if this, then that, and if this, then that that can explore many alternatives.
Before we get into today’s post, we wanted to review how this post gets to you via email. When we post something on let’s say a Monday (anytime before Midnight), the email of the post will automatically be generated and sent to you sometime around 2-3 am Pacific Time. Any of the out of office notifications then will come to my Inbox. Sometimes I wake up to over 300 emails in my Inbox and almost all of them are these types of emails.
People routinely question my libertarian leanings regarding government oversight and regulatory protection. The current Bayer vs. cancer sufferers is Exhibit A in why the government is not the repository of safety. If you've been following the multi-year court battles between Monsanto/Bayer and people allegedly suffering non-Hodgkins lymphoma, you know that so far three juries have awarded millions of dollars in damages, finding that Roundup's ingredient glyphosate does, indeed, cause cancer.
The IRS released Revenue Procedure 2021-33 today. This guidance essentially allows any taxpayer that is calculating gross receipts to determine if those gross receipts for each quarter in 2021 are at least 20% lower than the same quarter of 2019. If you meet that requirement, then you qualify for the Employee Retention Credit (ERC) which we have posted on many times.
The IRS finally issues formal guidance on the Employee Retention Credit (ERC) in notice 2021-49. The guidance has some good news and some bad news for most farmers that want to take advantage of the ERC. First, the good news. The IRS has now formally announced that you may use the alternative quarter election for any quarter in 2021. Previous guidance seemed to indicate that this was available but the wording was vague at best.
Last Friday I got home from a 10 day business trip. I was able to spend the night at home and headed out to Missoula Montana with my wife on Saturday. We ended up spending Saturday night in Spokane and then took the scenic route to Missoula on Sunday (up to Bonners Ferry, Idaho, over to Kalispell, Montana and then down the back side of Flathead Lake to Missoula).
Many farmers are or will qualify for the employee retention credit (ERC) based on their quarterly revenues in 2021 being at least 20% lower than the same quarter in 2019. This credit can be substantial if the farmer qualifies for all four quarters in 2021 since an employee with at least a $40,000 annual wage could qualify for a $28,000 tax credit that is refundable.
If you have done any in-person, or even online retail in the past year a customer has probably asked if your business accepts Google Pay or Apple Pay. Expect to hear a lot more of that question. According to one study , the mobile payment market was worth $800 billion dollars in 2019 and is expected to reach 8 TRILLION (with a T) by 2027. As a small business, it might seem intimidating to figure out how to accept these digital payments at your market or farm stand, or even with your online sale
Davis, CA – With many small farms still reeling from the COVID-19 pandemic, and deepening impacts felt from the drought, Community Alliance with Family Farmers (CAFF) is relaunching its California Family Farmer Emergency Fund for farmers in crisis. The current drought is sending shock waves through California’s food system; as wells go dry, reservoirs sit empty, and the state begins shutting off access to water, thousands of farmers have begun fallowing their fields.
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