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Farminar Jan-10 on Tax Preparation tips for farmers

January 12th, 2012 @ 11:55 am by Luke

On Tuesday January 10, 2012, the 2012 Winter Farminar Series began. 41 folks tuned in live to learn from farmer Jerry Peckumn and his accountant Leo Brooker, both of Jefferson, IA.

Attendees learned the potential tax savings of filing with a knowledgeable adviser to help take advantage of all the tax credits and techniques available to legally reduce tax liabilities for farmers.

Good recordkeeping was also stressed by Jerry including using a bookkeeping service if you don’t enjoy doing it yourself. Use cost accounting and cash to accrual conversions annually to really know how much the farm is making by looking at net worth overtime. Know how much you have in inventory from year to year and what the value lost from depreciating assets. Avoiding the temptation to make large capital expenditures and depreciate the full value of the asset in the first year was also encouraged as this might not lead the business to the best outcome over time.

Watch the complete recording of this session online now by clicking on this link!

Farminars continue to draw 25% of attendees from outside of Iowa and they have a committed, eager audience from around Iowa and as far away as Homer, Alaska!

Please join us next week for “Scale and Profit: a financial snapshot of three CSAs” Tuesday January 17, 2012.

 

 

Supported by the Beginning Farmer and Rancher Development Program of the National Institute of Food and Agriculture, USDA, Grant # 2010-49400-21843

Pasture walk and more at the Wheelers

November 30th, 2011 @ 12:34 pm by Kevin

It was advertised as a pasture walk – but it was so much more! On Saturday, November 19th, eleven people gathered at Jake and Amber Wheeler’s farm to discuss winter grazing, cattle genetics, cedar tree removal, farm profitability, farm enterprises, marketing, time management and more.

The Wheeler Family

To begin, we brainstormed all the farm enterprises we could think of – that might remotely fit into the Wheelers’ system and be consistent with their values. We had quite a list (which I left with the Wheelers). Most of those enterprises the Wheelers will not start on their farm, but hopefully gave them some ideas of all the possibilities out there.

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A humbling lesson about bloat

October 4th, 2011 @ 10:24 am by Kevin

This past weekend I lost a heifer to bloat. My first reaction was to keep this to myself, as this was a painful and embarrassing experience, especially considering that my professional title is “Grazing Coordinator” and I sometimes even get called “Grazing Specialist”. But after further reflection, I decided to share my experiences, in the hope that someone else can learn from my bad experience, or that I might get some good advice from others.

I only have seven animals, all heifers of various breeds and crosses, what I hope will be the start of my milking herd. I keep these animals on a pasture at my in-laws’ farm, about a fifteen-minute drive from our house.

Svanhild and Kevin this September

The heifer who died was named Svanhild. I bought her, along with her half sister Gunnhild last year when they were about six months old. I am currently in the process of having them bred; Svanhild was due to come into heat this coming Friday. She was raised on a nurse cow, so she was always on the wild side, but had just learned to enjoy some scratching in the last few weeks.

I started grazing them on alfalfa last Monday. I knew this was potentially risky, but I had grazed the same field of alfalfa last year, and I was easing them into it slowly. I wanted to graze the alfalfa now while it is still good quality forage, saving my remaining grass pastures for grazing later in the fall or hopefully even into winter. I started by giving them a strip that was only about 20% alfalfa, since a lot of it drowned out in 2008. They still had access to a portion of the perennial grass pasture as well. I gave them a new strip of the alfalfa every day, with the percentage of alfalfa in the strips gradually increasing. By Friday, the new strip they got was probably over 90% alfalfa (Actually, on Friday they got out of the fence minutes before I arrived in the morning, and I fenced around them so they were no longer “out”. Polywire and step-in posts are great!).

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Frantzen field day held; discussion of succession, energy, and purchasing a farm acreage

September 26th, 2011 @ 2:10 pm by Luke

What does a beginning farmer need to do to get started with a small farm acreage? If you ask James Frantzen, of rural NE Iowa, near Elma, he may respond, “Plenty,” with a straight face and a serious gaze for a moment. Until a smile quickly breaks across his face vibrating from a hearty laugh from deep inside. “Enough to keep you out of trouble, anyways.”

James looked for years for a home nearby where his folks farm. In 2009, he purchased a property three miles up the road.”When I bought this place, it was a mess,” remembers James. “the previous owners kept nearly every kind of livestock except maybe a black bear.”

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Next Generation Retreat – workshop with Richard Wiswall December 8-9, 2011

September 22nd, 2011 @ 12:22 pm by Luke

We hare pleased to announce Richard Wiswall will be the farmer facilitator for the 4th annual Practical Farmers of Iowa Next Generation Retreat.

From Noon on December 8th to Noon on December 9th, this overnight retreat will focus on how to create business plans that demonstrate budgets for profit.

“I get really excited about farm budgeting, because that is how you determine if you are making a living farming,” says Wiswall. “I love working with beginners to demystify business planning.”

Detailed agenda to be provided later this fall.

The Next Generation Retreat is only $20.00 for members of Practical Farmers of Iowa, and $50.00 for non-members. Bring a potluck dish for Thursday night’s meal as well as a set of your own linens/pillow.

TO REGISTER: Contact Luke Gran,  luke@practicalfarmers.org, 515.232.5661 by November 15.

TIME and PLACE: The workshop will be held Noon December 8th, 2011 to Noon December 9th, 2011 at Des Moines Y CAMP near Boone, 1192 160th Drive, Boone, IA, 50036. See http://www.y-camp.org/contact/ for a map to the location.

Don’t Miss Farm Succession, Niche Pork and Energy Field Day This Weekend

September 8th, 2011 @ 4:36 pm by Ann

 

James Frantzen, above, will be hosting a PFI Field Day, Saturday, September 10, from 1 – 5 p.m., covering niche pork, farm succession planning and on-farm energy use.

Looking for something to do this weekend? Don’t miss the Frantzen’s Field Day!

Saturday, September 10, 1–5 p.m. (Light snack and beverage provided)

Hosts:
James, Tom and Irene Frantzen
Frantzen Farm
20199 Key Ave.
Elma, IA 50628
641.257.8122
james.frantzen@hughes.net

Description:
Come hear about the Frantzen family’s farm succession planning and a beginning farmer starting out. Discussion will include farm business planning for feeder pigs and costs of production. Watch a slide show of farmstead reconstruction to see James’ farm in progress as he improves buildings, invests in farm equipment and builds a business!

Also, hear about an on-farm energy research project and testing results. James’ parents, Tom and Irene Frantzen, will share their farm succession-planning process and direction. Enjoy a light snack of Organic Prairie meat, Organic Valley cheese, milk and juice. Speakers will include Rich Schuler (PFI on-farm energy consultant) and Carole Yates (UNI Center for Energy and Environmental Education). MOSES staff will be on hand with information and will answer questions about making the transition to organic farming.

Directions:
From New Hampton: go north on Hwy 63 for 11 miles. Turn left (west) on county road 100th St. (gravel road). Go 2.5 miles. Take a right (north) on Key Ave. Farm is the first and only place before the stop sign (west side of road).

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