Does the IRS Consider my Farming Operation a Hobby Farm?

By Tarrah Hardin | KFBM Area Extension Specialist
Published on Jun. 29, 2021

Many producers that have both farm and non-farm income, may question if the IRS considers their farming activities to be a “business” or a “hobby”.  This is a very important distinction to both the farmer and the IRS due to the IRS treatment of business income versus “hobby” income.

Estate Transfer under the Proposed American Families Plan

By Jerry Pierce | KFBM Program Coordinator
Published on Jun. 29, 2021

On May 28th the Biden Administration released a general explanation of its proposed tax changes.

People Skills: Appropriate Feedback

By Steve Isaacs | Extension Professor
Published on Jun. 29, 2021

Farmers manage crops and cattle, machinery and marketing, land and labor. That last one may be the most difficult. People are the most important resource in a farm business. Nothing productive happens unless people are doing something with the crops, cattle, machinery, marketing, and land.

Solar Farming Considerations

By Alison Davis | Extension Professor
Published on May. 28, 2021

An effort to rely on renewable resources instead of nonrenewable has the potential to meet the increased global demand for electricity. Both solar and wind energy have the potential to offset a significant fraction of non-renewable electricity demands, yet it occupies extensive land when deployed at levels large enough to meet global demand.

How Hay Became a Four-Letter Word

By Greg Halich | Associate Extension Professor
Published on May. 28, 2021

I've been waiting patiently for the inevitable to happen — for the word “hay” to morph into the word “haye,” or something similar.

U.S. and Global Food Price Inflation

By Will Snell | Extension Professor
Published on May. 28, 2021

Food price inflation continues to be headline news as the food system adjusts from the lingering effects of COVID-19 amidst tight labor/ag supplies, a resurgence in the U.S. economy, and a host of other factors discussed below.

Proposed Gift and Estate Tax Changes

By Laura Powers | KFBM Area Extension Specialist
Published on May. 28, 2021

You may have been reading in the news lately about proposed changes to various tax laws and their impact on farmers.

Examining How Macroeconomic Policy Changes Impact the Farm Economy

By Will Snell | Extension Professor
Published on May. 12, 2021

Farmers and agribusinesses closely monitor changes in commodity and input prices, crop yields, rates of gains on livestock, the latest technology, and of course, the weather. However, changes in macroeconomic variables such as interest rates, inflation, income growth, and exchange rates, often have a much greater impact on their bottom line.

National Farm Market Impacts from Covid

By Tim Woods | Extension Professor
Published on Apr. 29, 2021

A Fall 2020 national survey conducted by the Farmers Market Coalition of farmers market managers starts to provide a glimpse into some of the winners and losers in farmers markets across the country.  Farmers markets have been important venues for small vendors and localized food systems, often providing a diversity of kinds of vendors participa

Carbon Markets 101

By Jordan Shockley | Associate Extension Professor and Will Snell | Extension Professor
Published on Apr. 29, 2021

The development of agricultural ecosystem credit markets, specifically carbon markets, is a hot topic in the popular press and Washington, DC.  The United States Environmental Protection Agency (EPA) estimates that 10% of carbon dioxide, a primary greenhouse gas, is emitted by the agricultural sector.  While this is relatively a small portion of