The USDA Risk Management Agency (RMA) recently announced several updates to Dairy Revenue Protection (DRP), Livestock Gross Margin (LGM) and Livestock Risk Protection (LRP) programs that will take effect beginning with the 2027 crop year on July 1, 2026. The changes are intended to improve flexibility, expand coverage opportunities and create more consistency across livestock insurance products.
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Tax Talks
Capital Construction Fund: A Fisherman’s Guide to Building for the Future
If you’re a commercial fisherman planning to build, buy, lease or rebuild a vessel, the Capital Construction Fund (CCF) can be one of the most powerful tax planning tools available to you. The CCF lets you set aside income today, defer federal income tax and use that money later to invest in your fishing business. Let’s discuss the details of this program.
May 26, 2026
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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
Tax Talks
Handling State Tax Refunds from Business Tax Credits
With many taxpayers having filed their 2023 taxes, refunds are appearing in their bank accounts. There may be a question of what to do with these funds. Particularly for those in states that had an expansion of refundable credits generated from farm businesses.
May 29, 2024
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