What to Consider When Renting Out Your Farm

By Michael Forsythe | KFBM Area Extension Specialist
Published on Oct. 30, 2023

According to 2022 KFBM data, only 27% of land farmed by Kentucky farmers is owned by the farmer. The remaining 73% is typically comprised of landowners that may or may not have a background in farming.

Kentucky Farm Observations From Across the State

Published on Oct. 30, 2023

The Kentucky Farm Business Management Program is a program of the Department of Agricultural Economics at the University of Kentucky.

Southern Ag Today: A Resource for Farmers and Policymakers in The Southern Region

By Jordan Shockley | Associate Extension Professor
Published on Sep. 29, 2023

The Department of Agricultural Economics here at UK is proud to be a part of Southern Ag Today.

Depreciation Changes 2023

By Suzy Martin | KFBM Area Extension Specialist
Published on Sep. 29, 2023

It is important to understand the challenges facing tax preparers when it comes to accelerated depreciation and equipment purchases with trade-ins. The Tax Cuts and Jobs Act (TCJA) passed in 2018 had three significant changes to capital purchases and trade-ins.

2023 Farmland Values

By Steve Isaacs | Extension Professor
Published on Sep. 8, 2023

Each August the USDA releases the results of their survey of farmland values. The survey includes data from approximately 9,000 tracts of land of about one square mile each across the continental United States.

What Do Higher Profit Farms in Kentucky Have in Common?

By Lauren Omer Turley | KFBM Area Extension Specialist
Published on Aug. 29, 2023

In today’s farming culture, the farm is run just as a business.  It is important for producers to make progress and always look for ways to improve the operation.  The goal of most producers is to be at the top of the profitability curve in order to stay competitive.  In Kentucky, we have had a record three-year period from 2020 to 2022.  There

Can I Afford to Buy A Farm?

By Kayla Brashears | KFBM Area Extension Specialist
Published on Aug. 29, 2023

A goal of many pursuing the American dream is home ownership. Similarly, the goal of a farmer is often to become a landowner. Like single-family residences, the financial decision to purchase farmland is clouded by emotional, social, and familial influences.

An INFORMATION System

By Steve Isaacs | Extension Professor
Published on Jul. 28, 2023

Recordkeeping. Root canals. Airline seats. Kidney stones. Boring relatives. Wet dogs None of them are pleasant. Some should be avoided. Some of them are pretty important though. Keeping records for the farm business, for instance. Not pleasant (usually) but certainly important.

2022 Financial Overview of Kentucky Farms

By Tarrah Hardin | KFBM Area Extension Specialist
Published on Jun. 29, 2023

After coming off a record high Net farm income (NFI) in 2021, grain farms in Kentucky Farm Business Management (KFBM) program saw their net farm income decrease to levels below pre-pandemic.  Net farm income is the value of farm production less total operating expense and deprecation.

The PRIMER Method

By Steve Isaacs | Extension Professor
Published on May. 30, 2023

The calls or emails start with, “I’m thinking about trying….” and end sometime later with, “What do you think?” For three decades I’ve fielded many of these inquiries. Extension agents get them with incredible frequency.