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.
Farm tractor in a field during the fall harvest

Latest From Today's Harvest Blog

Business Tips and Tools

Ready to Apply for a Loan? Follow these 4 steps to get started

Farm Credit East Knowledge Exchange

Getting a loan application ready can be daunting and puzzling. But you don’t need to know all the answers. Lenders, like Farm Credit East, can provide resources and guidance to assist you in determining if a loan is the best answer for you and what you will need to apply and qualify for one. 

December 1, 2023

Man and woman walking in rural crop field looking at a tablet

Latest Tax Talk

Woman farmer using a laptop in crop field in front of a tractor. Tax Talk logo in bottom righ corner.
Tax Talks
New York Farm Employer Overtime Credit - What you need to know

With 2024 around the corner, New York state farmers need to begin thinking about the Farm Overtime Credit that will provide a refund for hours worked between the thresholds set by the state and 60 hours. 

December 5, 2023

Today's Harvest Blog

Woman farmer using a laptop in crop field in front of a tractor. Tax Talk logo in bottom righ corner.
Tax Talks
Tax rates are on the rise, are you prepared?

In November 2022, Massachusetts voters approved an amendment to the Massachusetts Constitution to impose an additional 4% surtax on the portion of a taxpayer’s taxable income that exceeds $1 million. Shortly after, seven other states introduced their own legislation targeting high-income earners including Connecticut and New York. Here are the details to help your tax planning.

October 31, 2023

Woman farmer using a laptop in crop field in front of a tractor. Tax Talk logo in bottom righ corner.
Tax Talks
Defining Pass Through Entity Tax

In 2017, the Tax Cuts and Jobs act was passed, putting a $10,000 limit on the amount of state and local tax that can be deducted on an individual's tax returns. For high income taxpayers that also pay a significant amount of property taxes, they quickly get to this $10,000 cap. For taxpayers who own pass thru entities such as partnerships and S-Corps, there is a potential way around this cap. This work around is called the Pass-Through Entity Tax.

September 29, 2023

Tax Talks
Crop Insurance Tax Treatment Options for a Challenging Year

2023 has been a challenging year for farmers, and many may see payments from their crop insurance policies or federal crop disaster payments. This Tax Talks blog reminds producers that crop insurance proceeds and crop disaster payments must be reported as income.

August 29, 2023

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Tax Talks
Vermont Flood Victims Qualify for Federal and State Tax Relief

The recent Northeast flood events have been devastating for Farm Credit East customers and others in the affected areas, particularly those in Vermont. The IRS has released tax relief information for individuals, households and businesses. Following is federal tax relief guidance applicable to anyone located in a FEMA-declared disaster county along with state tax relief specific to those located in Vermont’s 14 hard-hit counties.

July 26, 2023

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