Caff
FEBRUARY 18, 2022
Photo by: Paige Green New month, new member spotlight! This month we want to introduce you to Marcia Barinaga of Barinaga Ranch. Marcia joined CAFF because she wanted to be more involved in her community, plus she enjoys those nice membership perks! Favorite Moment of the Day Photo by: Paige Green “Watching my sheep graze, especially in the fading light at the end of the day or in the early morning light.
Agribusiness Blog
FEBRUARY 16, 2022
The IRS announced on Tuesday February 15, 2022 that most K2/K3 reporting for 2021 can be delayed until the 2022 tax return filing. Here is the exact wording from the IRS: Coming relief from certain Schedule K-2 and K3 reporting: The IRS intends to provide certain additional transition relief for this year from the Schedule K-2 and K-3 reporting for certain domestic partnerships and S corporations with no foreign activities, foreign partners or shareholders, and without knowledge of partner or sh
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RR2CS
FEBRUARY 16, 2022
Author and leadership advisor David Irvine discusses the strategies we can use to have constructive conversations about the livestock and environment issue. Even if we don’t agree with the other person. The Bridging the Echo Chambers project is a Food Water Wellness Foundation project that delves into the debate about the impacts of livestock on the environment and how we can facilitate healthy and constructive conversations between people who have different views and opinions.
The Gleaning Project of South Central PA
FEBRUARY 15, 2022
Happy End of February Gleaners! We are celebrating the end of February and moving into March with the last of our food holidays and updates! Just a reminder for any Gleaners who are interested: We will be having Empty Bowls at Gettysburg College on April 22nd from 5:30-7:00pm. We will continue to update you about that as it comes but we are SO EXCITED to be back in person (as long as things keep remaining safe!
The Lunatic Farmer
FEBRUARY 15, 2022
Sunday’s Super Bowl garnered $7.6 billion in gambling activity. Name any problem and the weak link is not resources, money, or knowledge. The weak link is failure to imagine and then act. When we see a figure like $7.6 billion, we read it like any other statistic and go on about our day as if all is right in the world. For fun, I decided to put physical ramifications to $7.6 billion.
Agribusiness Blog
FEBRUARY 16, 2022
Just a few hours after doing our blog post this morning on IRS no longer requiring most Farm K2/K3 to be filed this year, the IRS just released additional guidance in the form of FAQs. Question 15 provides additional details on what returns qualify for not filing K2/K3 and for a substantial majority of our farm partnerships and S corporations you will not be required to file this form and can file timely without having to do an extension.
RR2CS
FEBRUARY 16, 2022
Filmmaker and communications strategist Sarah Wray discusses communications techniques we can use to have constructive conversations about the livestock and the environment issue. Even if we don’t agree with the other person. The Bridging the Echo Chambers project is a Food Water Wellness Foundation project that delves into the debate about the impacts of livestock on the environment and how we can facilitate healthy and constructive conversations between people who have different views an
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RR2CS
FEBRUARY 16, 2022
Feedlot manager and proponent of holistic management and regenerative agriculture Andrea Stroeve-Sawa shares low-stress livestock handling tips we can use to have constructive conversations about the livestock and the environment issue. Even if we don’t agree with the other person. Andrea also shares what it was like for her to sit down and have that exact conversation with a vegan.
Agribusiness Blog
FEBRUARY 15, 2022
In our last post we discussed whether having a bypass trust is better than portability. A reader sent us a comment regarding the fact that the current $12.060 million exemption is scheduled to be cut in half beginning in 2026. That is correct for anyone that is living at that time (unless Congress makes it permanent). However, for anyone passes away before January 1, 2026, the full amount of the current unused exemption amount is available to the surviving spouse.
Agribusiness Blog
FEBRUARY 14, 2022
Portability was enacted in 2011. Before 2011, if a person died with unused lifetime exclusion, this excess exclusion was permanently lost. After 2010, the surviving spouse could elect to take that excess lifetime exclusion amount and add it to their exemption amount and have that available in their estate. By creating the ability to “port” the unused exclusion to the surviving spouse, the law seemed to eliminate the requirement to try to equalize assets between spouses in separate pr
Agribusiness Blog
FEBRUARY 13, 2022
Many farmers are located in states with high income tax rates such as California. Under current federal tax rules, your personal deduction for all state income taxes are limited to $10,000 for a single or married taxpayer (another example of the marriage tax penalty). Several of these states have enacted a method allowing you to deduct the equivalent of state income taxes on your partnership or S corporation.
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