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Cash and Tax Planning for 2018

  • September 21, 2018
  • Dwight Raab, Bradley Zwilling, and Brandy Krapf

As harvest 2018 consumes most of your attention take some time to review your accounting records in anticipation of planning for the end of the year. Some in Illinois experienced…
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Agricultural Debt Continues to Increase

  • August 17, 2018
  • Brandy Krapf, Dwight Raab, and Bradley Zwilling

Agricultural debt on a nominal basis in Illinois has been increasing since 1991. Data from the U.S. Department of Agriculture (USDA) and Illinois Farm Business Farm Management (FBFM) are shown…
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Cash Is King – Revisited

  • July 20, 2018
  • Bradley Zwilling, Brandy Krapf, and Dwight Raab

In good times cash is king and in not so good times it is even better. There are three primary liquidity ratios that are important from a business perspective. And…
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Machinery Values on Illinois Grain Farms

  • June 15, 2018
  • Brandy Krapf, Dwight Raab and Bradley Zwilling

As farm incomes began to increase after 2006 due to higher grain prices, machinery values began to increase as well. There are many reason for this increase. We will compare…
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2017 – Characteristics of Higher Profit Farms

  • May 18, 2018
  • Brandy Krapf, Dwight Raab, and Bradley Zwilling

This article uses 2017 data from Illinois Farm Business Farm Management to highlight selected differences between the highest profit grain farms (high one-third) and lower profitability grain farms (low one-third). …
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How Are Family Living Expenses Funded?

  • March 16, 2018
  • Brandy Krapf, Dwight Raab, and Bradley Zwilling

Family living expenses are not a tax-deductible expense of the farm business, but they must be budgeted for to sustain the living expense of the farm operator and their family.…
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IFES 2017: Where To From Here

  • January 5, 2018
  • Dwight Raab

While yields for most have assisted in mitigating working capital losses, commodity prices continue to present challenges in creating positive cash flows and profits. Corn at less than $4 continues…
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2017 Year End Tax Planning Ideas

  • December 27, 2017
  • Dwight Raab

With the recent passage of the Tax Cuts and Jobs Act (Congress passed on 12/20; President signed on 12/22) there are significant changes to the deductible amount of state income,…
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The Deferred Tax Monster

  • May 19, 2017
  • Brandy Krapf, Dwight Raab, Bradley Zwilling and Bailey Fletcher

Because agriculture producers can use cash accounting for federal and state income tax purposes, there is a recognizable difference between taxable farm income and accrual farm income. These differences can…
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Then and Now – Machinery Values

  • March 17, 2017
  • Bradley Zwilling, Dwight Raab and Brandy Krapf

This article reviews machinery values from a group of Illinois grain farms at two points in time. Total machinery value and machinery value per acre are reviewed from periods that…
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Agricultural Debt Continues to Increase

  • February 17, 2017
  • Brandy Krapf, Dwight Raab and Bradley Zwilling

Agricultural debt on a nominal basis in Illinois has been increasing since 1991. Data from the U.S. Department of Agriculture (USDA) and Illinois Farm Business Farm Management (FBFM) are shown…
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Where Is Your Net Worth?

  • November 18, 2016
  • Bradley Zwilling, Brandy Krapf, and Dwight Raab

Net Worth is measured as all assets less all liabilities. If you consider that your liabilities are claims on your assets by your lenders, then you can consider the liabilities…
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How Will Family Living Affect My 2017 Budgets?

  • October 21, 2016
  • Bradley Zwilling, Brandy Krapf, and Dwight Raab

In 2015, the total noncapital living expenses of 1,377 farm families enrolled in the Illinois Farm Business Farm Management Association (FBFM) averaged $78,538--or $6,545 a month for each family (Figure…
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