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Friday, October 28, 2016

Manage anxiety to avoid mental and physical exhaustion

Photo Courtesy of Ag Web
Among all the occupations in America, those who work in farming, forestry and fisheries are most likely to commit suicide—by a mile, according to the U.S. Centers for Disease Control and Prevention (CDC). Nearly 85 farmers, forestry and fishery workers per 100,000 end their own lives every year, according to the CDC, the most among 30 standard occupational groupings studied. 

 The last time these numbers were compiled, it was 2012 when corn hovered around $6 to $7 and soybeans in the $11 to $12 range. Fast-forward to the soft commodity prices of 2016, and farmers could be in for a stressful harvest. 

That has southern Illinois farmer and banker Alan Hoskins of American Farm Mortgage and Financial Services concerned for his neighbors and customers. “Obviously, the price situation has created a lot of uncertainty,” Hoskins says. “One fear I have is the size of the crop we’re producing. Most operations aren’t built to hold 100% of their grain in a normal year, and this year, farmers will be faced with tough decisions on....Read more at

Thursday, October 27, 2016

Tax Credit Rewards Entrepreneurship

Photo courtesy of FJM

As you’re growing your farming operation or looking at forging into new markets, a little-known tax incentive could be just what you need to help finance your expansion. The credit is designed to reward producers for trying new things that could not only stimulate their business but also spur wider economic development in the community. Some projects that might qualify for the Research and Experimentation Tax Credit,
or R&D tax credit, include:

  • Developing all natural or organic crops or produce
  • Developing new or automated systems along with operational processes 
  • Evaluating new irrigation methods
  • Testing new seed varieties or cultivation methods
  • Evaluating new breeds or species of livestock
For example, if testing new seed varieties, not only would the new material qualify more at Farm Journal Media