Each year, your perennial crop insurance policy will renew by November 20. It is important to meet with your agent each year, prior to this date, to ensure accuracy and alignment in your risk management goals.
Today’s Harvest Blog
Today’s Harvest is a valued, timely resource for stories, news, tips and information relevant to Northeast agriculture and our customers.
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Tax Talks
Maximizing Your Farm’s Bottom Line: Income and Expense Reporting
Filing farm taxes doesn’t have to be confusing. The IRS requires you to report all income unless specifically excluded, and only deduct expenses that are both ordinary—common in farming—and necessary—helpful for your business. Understanding these basics can save you time and stress.
October 27, 2025
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Tax Talks
Important Update Regarding Life Insurance Redemptions
In April, we discussed that the Supreme Court was hearing arguments in the Connelly v U.S. case regarding life insurance proceeds. With this case now decided, it will be important for individuals and small businesses owning life insurance to fund buy/sell agreements to include a review of these policies.
July 05, 2024
Tax Talks
New York Farm Employer Overtime Credit – Advance Application Opens July 1
In December 2023, we shared two important Tax Talks blog articles on the New York Employer Overtime Credit. The time to apply for an advance of the credit is fast approaching with NYS Ag and Markets opening the application on July 1, 2024.
July 02, 2024
Tax Talks
Production Tax Credit – Complete Application for Registration by July 15
In a previous Tax Talks blog article, we talked about energy credits. An energy credit not discussed is the Production Tax Credit (PTC) under Internal Revenue Code (IRC) section 45Z. This credit incentivizes the domestic production of sustainable transportation fuels, such as those that may be generated by an on-farm biomass digester, offering a per gallon tax credit for qualified fuels produced by the taxpayer and sold to an unrelated person.
June 25, 2024
Business Tips and Tools
Business Basics for Beginning Farmers
One of the great things about owning or starting your own business is that you determine your business goals and how you want to achieve them. So, what are the business basics that help you remain profitable so you stay on track toward achieving your business goals?
June 18, 2024
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