Leaving a legacy has always been an important concept for farm families. While that legacy often involves landholdings and leadership roles, it can also include faith, values, and reputation.
Roger McEowen with the Washburn School of Law joined RFD-TV’s Tammi Arender to discuss why legacy also involves character, the main considerations producers need to keep in mind to best structure their farming business, and how a farmer knows if their activity is a trade or business in the eyes of the IRS.
Related Stories
Dr. Gary Schnitkey from the University of Illinois discusses farmers’ sentiment toward industry consolidation, especially in the fertilizer sector, where costs remain historically high.
Weak cold chain performance can lead to slower movement, higher costs, and greater product loss after harvest or processing.
To qualify, land must be in the U.S., used substantially for farming in the last 10 years, and restricted from non-farm use for at least 10 years after the sale.
K-State economists say big swings in cattle futures can complicate hedging, margin calls, and timing of sales.
USDA says total grain inspected for export reached 2.81 million metric tons for the week ending June 11.
University of Nebraska–Lincoln Extension is helping ranchers navigate grazing and herd management strategies.
