Huntington County and Wells County Farm Program Meetings
The Huntington County and Wells County FSA offices in partnership with Purdue Extension will be conducting Farm Program Meetings. The meetings will provide information to producers about the Agricultural Risk Coverage Program (ARC), Price Loss Coverage Program (PLC), and decision making tools for the programs. The Huntington County Meeting will be Thursday, December 19th at 9:30 a.m. at First Merchants Bank Heritage Hall at the Huntington County 4-H Fairgrounds. The Wells County Meeting will be Wednesday, December 18th at 9:00 a.m. at the Wells County 4-H building.
For more information on ARC/PLC, visit:
https://www.fsa.usda.gov/programs-and-services/arcplc_program/index .
Attention farmers...
Just a quick reminder, if you received a payment from the Market Facilitation Program, it is taxable and cannot be deferred.
If you have any questions about this, please contact your tax adviser or our office.
199A regulations finalized!
Do not become the victim of a tax scam!
Indiana Farm Bureau 2018 State Convention
Indiana Farm Bureau is holding its annual state convention December 6, 2018 - December 8, 2018 at the Grand Wayne Center in Fort Wayne. If you are attending this event, be sure to stop by our booth!
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!
2019 Tax Update
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
Estate & Succession Planning Seminar
The Indiana Agricultural Law Foundation is holding its 5th installment of the Estate & Succession Planning for the Family Farm program on July 17, 2018. Dan Gordon will be presenting a discussion regarding Elder Care Planning and how not to lose the farm to the nursing home.
If you want to know how to save your farm from the nursing home, contact our office today!