Farm4Profit Podcast

Remind people to hit SUBSCRIBE – REMEMBER TO READ REVIEWS Dave Devries @Zeldenrust_Farm: Great podcast again, 1 question. If one of the reasons for increased imports by China is the rebuilding of their hog herd to before ASF levels, how come they weren’t importing more before?Hank Wade @Henry68157All about Hank Wade – What did little Hank want to be when he grew up?What’s your tie to agriculture?How long have you been farming?What’s next for you?Things I think he will want to talk aboutMental HealthWood workingBlogWhy do it?Connections through social mediaPhysical health and eating healthySous Vide CookingBeing an agvocateWhere do you get your content for twitter? How do you come up with your questions?The wife is the biggest StarWhat’s your view of TikTok?Who was the coolest person you met along the way?Who was the biggest let down after meeting them?What is something you are really good at?What is something you have always wanted to do?What do the most successful farmers have in common?Reminder for:SWAG New Mic/Mullet design       E-mail us for a special deal – make sure you begCheck the website - more fun designs to come  Send us your idea for a design Larger Discussions – SegmentsCOVID 19 VaccineScams out there for old people. You should have to give anything more than your name and birthday to get signed up – call your old people to check inOnline registering might be crashingWatch local news and radio for updates – every area will be differentCall in to your local clinic and pharmacyBe patient (65 and older)Currently the state of Iowa receives 19,500 vaccines per week.  The 1B tier has over 700,000 eligible recipients in it.Smaller Quick Hit Topics for DiscussionWhat is the coolest thing David has ever sold?  @jakehopwood7 – Jake from the sale barn Want Farm4Profit Merch?  Custom order your favorite items today!https://farmfocused.com/farm-4profit/ Don’t forget to like the podcast on all platforms and leave a review where ever you listen! Website: www.Farm4Profit.comShareable episode link: https://intro-to-farm4profit.simplecast.comEmail address: Farm4profitllc@gmail.comCall/Text: 515.207.9640Subscribe to YouTube: https://www.youtube.com/channel/UCSR8c1BrCjNDDI_Acku5XqwFollow us on TikTok: https://www.tiktok.com/@farm4profitllc Connect with us on Facebook: https://www.facebook.com/Farm4ProfitLLC/ Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

US and Global (China) Economies, Inside and Outside of AgricultureDr. Wendong Zhang is an assistant professor in the Department of Economics at Iowa State University since August 2015. His research seeks to better understand U.S. farmland market, agricultural water conservation, and Chinese agriculture. Dr. Zhang is also affiliated with Center for Agricultural and Rural Development (CARD), where he co-founded the new ISU China Ag center jointly with Dr. Dermot Hayes in collaboration with Chinese Academy of Agricultural Sciences in 2017.Dr. Zhang is the leading researcher of the Iowa Land Value Survey, the Iowa Farmland Ownership and Tenure Survey, as well as the Iowa Lakes Survey. He also serves as the Academic Vice President for ASFMRA Iowa Chapter and leads the annual ISU Soil Management and Land Valuation (SMLV) Conference.Dr. Zhang received his Ph.D. in Agricultural, Environmental and Development Economics from the Ohio State University in July 2015, and he also hold a BSc in Environmental Science from Fudan University in China.Let’s jump right into it!United States net farm income – how has it compared year over year?Is this gain larger or lesser than average?How are the US export markets compared to last year and historicallyGrain ExportsMeat ExportsOther ExportsWhat does the US – China Trade relationship look like now?Did President Trump hurt or help?Did China honor their obligations?Were the tariff’s “Effective”What are your predictions for the next term (2021-2022)?What does trade policy look like under the next administration?Will it be a priority?Will tariff’s stay?Will we given in to pressure from others?In your opinion is China an indispensable trading partner for the US? For AG products?What products in general?Is there something the current administration should do in a trade agreement to make this work better in the future?Will it ever be more balanced?How is China’s economy?Do we really know?Continued individual wealth – more protein consumption?Growing Middle Class?What does it look like in the near future?AgricultureLivestock – SwineStock piles – dwindling or growing?TransportationHigh Speed RailWhat are China’s trade targets or focuses now?Are they looking for formal alliances?Are they targeting new partners?Which of the two economic power houses are currently sitting in a better position?  China or USWhy? All industries?Where is the advantageAgricultureManufacturingTechnologyWhat is your prediction on where is the US AG Economy headed?How does this compare to where have we come from?Anything else you’d like our audience to know?What, in your opinion, are the most common traits amongst the most successful farmers you have observed?SummaryChallengeClosingRemind the listener to leave a comment if this episode brought them value.  Ask them you like, leave a review where they listen, and share with their friends.  They can always send topic ideas to farm4profitllc@gmail.com Want Farm4Profit Merch?  Custom order your favorite items today!https://farmfocused.com/farm-4profit/ Don’t forget to like the podcast on all platforms and leave a review where ever you listen! Website: www.Farm4Profit.comShareable episode link: https://intro-to-farm4profit.simplecast.comEmail address: Farm4profitllc@gmail.comCall/Text: 515.207.9640Subscribe to YouTube: https://www.youtube.com/channel/UCSR8c1BrCjNDDI_Acku5XqwFollow us on TikTok: https://www.tiktok.com/@farm4profitllc Connect with us on Facebook: https://www.facebook.com/Farm4ProfitLLC/ Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Remind people to hit SUBSCRIBE – REMEMBER TO READ REVIEWS @alex_sydnor123 “Listened to it and it was greatly entertaining”Set up the Drinking Game (Pick a Word) = TratterCommercial (5th of 5)Flying Ag Drone Kitswww.flyingag.com – FARM4PROFIT gets you a free batteryYou are literally running out of time – February 1st.Matt - @farmboymattAll about Matt ProeselWhat’s your tie to agriculture?Farm, hogs, employees, familyWhat did you do to get “famous”?  Things I think he will want to talk aboutTrattersBad Lip Snycing – fav song to jam out toDifference between Dubai and AubudabiFace injuryStraight line winds like the derechoHog buzzersHow did you get started on TikTok?Who was the coolest person you met along the way?Who was the biggest let down after meeting them?What is something you are really good at?What is something you have always wanted to do?You’re an influencer – who influences you?What do the most successful farmers have in common?Reminder for:SWAG New Mic/Mullet designNow on the website with more fun designs to come Send us your idea for a design farm4profitllc@gmail.comLarger Discussions – SegmentsVaccine priority – podcast hosts qualify as a media source and are now eligible!Capital getting stormed – conspiracy theories Want Farm4Profit Merch?  Custom order your favorite items today!https://farmfocused.com/farm-4profit/ Don’t forget to like the podcast on all platforms and leave a review where ever you listen! Website: www.Farm4Profit.comShareable episode link: https://intro-to-farm4profit.simplecast.comEmail address: Farm4profitllc@gmail.comCall/Text: 515.207.9640Subscribe to YouTube: https://www.youtube.com/channel/UCSR8c1BrCjNDDI_Acku5XqwFollow us on TikTok: https://www.tiktok.com/@farm4profitllc Connect with us on Facebook: https://www.facebook.com/Farm4ProfitLLC/ Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

WelcomeReminder about Show formats: Farm4Profit Show has a WWIA segment and general topic, then the following week we have a casual conversation with a celebrity in agriculture while talking about current events.Thank you for sharing with your friends, we greatly appreciate it!Send your topic ideas to farm4profitllc@gmail.com or hit us up on social media.Review: Good work on the new podcast logo guys! @EdyHenning – T Richton & HighBank BoysWhat’s Working in Ag: - Engel Detailing – Columbus, NE (Taylor Engel)Tell us a little about yourself and your tie to agricultureHow did you get started in the detailing business?Our main topic for the day is about making small changes on your farm to make a big impact.  How can refreshing you line up help with this?If people want a rough idea for estimate cost, how do they do that?What is ROAR Ceramic coatingWhat are your goals for Engel Detailing going forward?How can people get in contact with you?Farm4Profit Discount?Commercial : Flying Ag   (4th of 5)  FARM4PROFIT gets you a free batteryMain Topic : Small changes to make a big differenceHotRod Farmer Intro:We are extremely pleased to have the “Engine Man” with us today.  Although some may refer to him as the Hot Rod Farmer he is the host of the Idle Chatter Podcast, creator of farmmachinerydigest.com, and now the host of Machinery Digest Radio!  Ray Bohacz is a sweet corn farmer from Warren County, New Jersey with a knack for writing.  Here today to share with us some of his insight from over 3000 articles written about how paying attention to the 3 legs of the farm profit stool can help you be a more profitable farmer.3 Legs to the Profit Stool (Should get Equal Attention)Agronomy/Animal HusbandryMarketingMaintenance/EquipmentReminder that profit is not what you make in total, it’s what you get to keep in the end.When thinking about the end of the year or the time of year.  It’s always good to reflect on how you have ran your business.What went right?What went wrong?What can I do better?Now think about this for your equipment.  Think about how this effects your profit.  What went wrong? Right, EtcVery rarely if something went wrong was it….Bad luckAn accidentFreak rare eventMost of the time it’s from neglect or “closing your eyes”Talking and bragging about equipment up keep and maintenance isn’t “sexy” (except for Andy Pasztor)  We need to make it a focus, something cool to talk about, something to bring up at the coffee shop or CO-OPPeople have a passion for high yields and selling at the top of the market.Nobody brags about a good shop routine or minimal break downsA lack of attention to your fleet can directly affect your profitability.You can’t control the weather, have little control over the markets, and can rely on technology advancements in genetics (plant and animal).But what you have full control over is how you maintain and prepare your equipment for the tasksBy properly maintaining equipment you minimize break downs, timely downtime, increase efficiency, and extend the life of your assets.So how do we do this?  How do we get started?An ounce of prevention is worth a pound of cureMake small changes to make a big differenceTake an ounce from 16 diff places to add up to one pound of cureIf you don’t know, you need to ask someone who does – HotRod Farmer Contact infoFind the low hanging fruit and build on it month after monthExamples of things covered on his show that might be helpful to start with (Low Hanging Fruit)How to protect an engine during storage. - Keeping mice away from electricals?Getting the best from your A/C system. – keeping it coldTo get the most ROI… read the manual AGAIN!There is more to modern engine oil than the SAE rating.How clean is your fuel storage tank? – Should you be treating your fuel?Learn the difference between new, remanufactured and rebuilt.If you soil test you also need to fluid test too!An efficient way to keep parts in order.Overlooked pre and post harvests procedures – what about spring?Getting the most out of tires - Tire pressure and soil compactionAny Others?Three simple steps to decrease equipment failure and down time?Any last comments to share with the listeners?What is a common characteristic the most successful farmers you know all have in common?SummaryChallengeClosingShare your ideas for shows farm4profitllc@gmail.comShare our podcast with your connectionsThank you  Want Farm4Profit Merch?  Custom order your favorite items today!https://farmfocused.com/farm-4profit/ Don’t forget to like the podcast on all platforms and leave a review where ever you listen! Website: www.Farm4Profit.comShareable episode link: https://intro-to-farm4profit.simplecast.comEmail address: Farm4profitllc@gmail.comCall/Text: 515.207.9640Subscribe to YouTube: https://www.youtube.com/channel/UCSR8c1BrCjNDDI_Acku5XqwFollow us on TikTok: https://www.tiktok.com/@farm4profitllc Connect with us on Facebook: https://www.facebook.com/Farm4ProfitLLC/ Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Remind people to hit SUBSCRIBE – REMEMBER TO READ REVIEWS People are creating twitter accounts because of the podcast – so cool!Set up the Drinking Game  = COWCommercial (3rd of 5)Flying Ag Drone Kitswww.flyingag.com – FARM4PROFIT gets you a free batteryCourtney Fyke @courtney.fykeAll about CourtneyWhat did you do to get “famous”?  How did you get started on TikTok?Who was the coolest person you met along the way?Who was the biggest let down after meeting them?What is something you are really good at?What is something you have always wanted to do?You’re an influencer – who influences you?How can people get a hold of you?Boyfriend? – Ethan, also on TikTok , --- Always wearing hats, Richardson112? --- biggest pet peaves = not waving back, people who tell you not to cuss, disconnected from agricultureThings I think she will want to talk aboutKellihercattle Company – Student run cattle businessFarmers Feed the World Merch for AG in the ClassroomNegativity around women in AG, Negativity on social mediaReminder for:SWAG now on the website with more fun designs to come – send us your idea for a design farm4profitllc@gmail.comLarger Discussions – SegmentsPolar opposites of social media in general (Twitter – people blocking people to the @drich82 Dusty Rich discussion about who you’d like to meet in person)@jerodmcdaniel @agridome – Phillip Shaw @lesleyraekelly @HuntFiber – Lindsay Persico @sammiwangsness @BkitchBodie and the guys from Next Level Ag @Qconnealy19 @bmreadel - Bridgette Readel @MachineryPete @apasztor82 and the list goes on!New Year Resolutions?Nashville Bombing Want Farm4Profit Merch?  Custom order your favorite items today!https://farmfocused.com/farm-4profit/ Don’t forget to like the podcast on all platforms and leave a review where ever you listen! Website: www.Farm4Profit.comShareable episode link: https://intro-to-farm4profit.simplecast.comEmail address: Farm4profitllc@gmail.comCall/Text: 515.207.9640Subscribe to YouTube: https://www.youtube.com/channel/UCSR8c1BrCjNDDI_Acku5XqwFollow us on TikTok: https://www.tiktok.com/@farm4profitllc Connect with us on Facebook: https://www.facebook.com/Farm4ProfitLLC/ Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

IntroductionThank you again for suggesting topics for us to talk about on the podcast and keep them coming.  Send those to farm4profitllc@gmail.com or find us all over social media.Remind the listeners how we do a profit show one week and a fun show the nextShare our favorite episode from 2020 (or two)CommercialFlyingAg – Drone Kits (2nd of 5)www.flyingag.com – FARM4PROFIT for free battery with your orderWhat’s Working in AGZach Smith – StockCropper - https://thestockcropper.com/1 – What is Stock Cropping?Stock Cropping is a dynamic farming system that that combines livestock and crop production in the field at the same time so that multiple species of plants and livestock can coexist. This allows to grow healthier animals, healthier soils, and a lower carbon footprint.2 – How do you accomplish this?We plant strips of corn and soybeans with pasture. We graze the pasture strips with multiple species of livestock in a mobile barn that autonomously moves through the strips daily throughout the season.  The animals consume our diverse pasture mix while stimulating the soil with their hooves, snouts, beaks, and microbiomes, leaving behind a rich mix of manure to feed the soil. The row crops grown in between the pasture strips benefit from this arrangement by having more access to sunlight up and down the plant canopy.  We do all of these things while giving consumers a front row seat to the show with our webcams and livestreams so they can see and participate with the production of their food. 3 – What’s the Benefit of farming this way? The end result is a diverse high quality mix of animal meats that we market and sell directly to consumers through various creative avenues allowing farmers to maintain profitability driving the sustainability of rural communities.4 – What did you learn from your first season?5 – What is your goal for the StockCropper in the future?Main Topic2020 Market Wrap Up – Two Outstanding ExpertsGreg Peterson has over 25 years of experience in the machinery business. His website, MachineryPete.com, is the premier, online destination for farmers and dealers, providing a comprehensive used farm equipment search experience with tens of thousands of farm equipment listings, searchable for free. His auction pricing database totals close to 500,000 auction sale prices on roughly 70 categories of equipment, making it the most comprehensive and complete of its kind. He authors regular columns for Farm Journal, Implement & Tractor and Top Producer magazines and blogs on AgWeb.David, World Champion Auctioneer, grew up immersed and involved in agriculture and started his career off by attending Missouri Auction School in 2008. He then acquired his real estate license in November 2010.  He is active in the Realtor Land Institute, National Auctioneer Associations and a number of State Auctioneer Associations. David and his wife Ann run the auction company, “Whitaker Marketing Group”.  In June of 2020, David took on the role of the Area Sales Management position for Farmers National Company.  David is a licensed Sales person in Iowa and Nebraska and currently the Chairman of the Board of the Iowa Auctioneers Association General QuestionsFirst let’s start by comparing last year to this year.  Have there been more or less sales in 2020 than 2019?Have these sales been for more or less money than 2019?What do you think covid has done to the equipment market? land market?What has the election done to each market?Overall do you feel the current market and recent sales are stronger or weaker than a year ago?Why, if not answered before?Is there a sub category that is stronger than others?IE: Quad tracks, JD 1000 series, square flat and black groundWhat is not selling well right now?Who have the sellers been?What has been the method of choice for selling?List, live auction, online auction etc….Who have the buyers been?What do you think the main driver is for these buyers?What’s your favorite part about what you do?When you reflect on successful sales.  Is there something sellers have been doing that has really been working? or set their sale apart from the rest?What is your best advice for a seller?Is there a best time of year to sell?How about flipping the script.  What is your best advice for a buyerBest time of year to buy?Do you have a prediction for 2021?Can be anything - Prices, number of sales, outside of your industry.Who have you met that you most enjoyed because of your profession?What is a common trait or characteristic that you have seen among the most successful people you know?Anything else you’d like our listeners to know?Reminder to share CONTACT INFO and say thank youSummaryChallengeClosing Reminder to like, rate, and review.  Send us your favorite episode from 2020 to help us wrap up the year!   Want Farm4Profit Merch?  Custom order your favorite items today!https://farmfocused.com/farm-4profit/ Don’t forget to like the podcast on all platforms and leave a review where ever you listen! Website: www.Farm4Profit.comShareable episode link: https://intro-to-farm4profit.simplecast.comEmail address: Farm4profitllc@gmail.comCall/Text: 515.207.9640Subscribe to YouTube: https://www.youtube.com/channel/UCSR8c1BrCjNDDI_Acku5XqwFollow us on TikTok: https://www.tiktok.com/@farm4profitllc Connect with us on Facebook: https://www.facebook.com/Farm4ProfitLLC/ Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Remind people to hit SUBSCRIBE – REMEMBER TO READ REVIEWS @Deereboy81-TikTok “Podcast is great, very interesting”@iowafarmerblake – TikTok “Great Podcasts! Listened to Tony and Erin Holbert episodes.  Keep them coming!People are creating twitter accounts because of the podcast – so cool!Set up the Drinking Game (Pick a Word) = SNAPCommercial Outback Wrap— Outback Wrap hydraulic hose markers are designed to reduce the frustrations of hydraulic hose handling and identification. Outback Wrap won't fade or become brittle and break off like other tags or identifiers. The second product that we have added is the Hose Tamer. This is an 18” long 40mm diameter wrap that is designed to tame your wild hoses. It can hold up to 14 hoses and can easily be switched between equipment.www.outbackwraps.com – FARM4PROFIT for 20% offStock Rocker – Cam HarstackAll about Cam What do you do for a living?What did you do to get “famous”?  How did you get started on SnapChat?Who was the coolest person you met along the way?Who was the biggest let down after meeting them?How has Covid-19 impacted your business?What is something you are really good at?What have you always wanted to do?Biggest surprise you’ve had in the last few monthsYou’re an influencer – who influences you?How can people get a hold of you?Reminder for:Gift lists from the listeners on the Farm4Profit HomePageLarger Discussions – SegmentsTravis Burkhart - PO Box 1888 Washington, IN 47501Mimicking the sounds of the things around us.When it comes to AG, who is the biggest celebrity Agvocate?(Ex: Tiger Woods = Nike)@rjfran23 Randy Francois Winthrop, IAHow do we get these celebrities to convey positive messages to consumers?Smaller Quick Hit Topics for DiscussionSpeed read out on the side of the combine (IE) weight read out on the side of the grain cart Want Farm4Profit Merch?  Custom order your favorite items today!https://farmfocused.com/farm-4profit/ Don’t forget to like the podcast on all platforms and leave a review where ever you listen! Website: www.Farm4Profit.comShareable episode link: https://intro-to-farm4profit.simplecast.comEmail address: Farm4profitllc@gmail.comCall/Text: 515.207.9640Subscribe to YouTube: https://www.youtube.com/channel/UCSR8c1BrCjNDDI_Acku5XqwFollow us on TikTok: https://www.tiktok.com/@farm4profitllc Connect with us on Facebook: https://www.facebook.com/Farm4ProfitLLC/ Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

IntroductionThank you again for suggesting topics for us to talk about on the podcast and keep them coming.  Send those to farm4profitllc@gmail.com or find us all over social media.CommercialOutback Wrap— Outback Wrap hydraulic hose markers are designed to reduce the frustrations of hydraulic hose handling and identification. Outback Wrap won't fade or become brittle and break off like other tags or identifiers. The second product that we have added is the Hose Tamer. This is an 18” long 40mm diameter wrap that is designed to tame your wild hoses. It can hold  up to 14 hoses and can easily be switched between equipment.www.outbackwraps.com – FARM4PROFIT for 20% offWhat’s Working in AGFlying Ag Drone Supplywww.flyingag.comuse code FARM4PROFIT for a free battery with your order - expires 2/1/2021Main Topic10-31 ExchangesWhen people own property.  What 4 options do they have with that property?What are the benefits of Section 1031?Can anyone use a 1031 exchange?By using 1031 exchange, how could this affect my tax position?We learned in our conversation with the SPA that the Capital Gains tax rate is largely unchanged.  This creates a substantial tax saving opportunity.Example?1031 exchanges can be used for real property only, what does that mean?Can you exchange a farm for an apartment building or a lake house?Rental property, Farms, Office, Retail space, warehouse, mini storage, vacant land, golf course, vacation home, partial interestsOK, so for farms, What all does that include?Livestock buildings, grain bins, tile, timber, pipelines, wind turbines, cell towersYou have our attention.  What does this process look like?QI, identification, acquisition, closingWhat are some examples of how you have seen 1031 exchanges work?What are some common mistakes you have seen to where this won’t work?Or what are pitfalls to avoid?Is there such a thing as a reverse 1031 exchange?How does section 1031 get sticky with related parties?What is a common trait or characteristic that you have seen among the most successful people you know?Anything else you’d like our listeners to know?Contact infoSummaryChallengeClosing Reminder to like, rate, and review.  Send us your favorite episode from 2020 to help us wrap up the year!   Want Farm4Profit Merch?  Custom order your favorite items today!https://farmfocused.com/farm-4profit/ Don’t forget to like the podcast on all platforms and leave a review where ever you listen! Website: www.Farm4Profit.comShareable episode link: https://intro-to-farm4profit.simplecast.comEmail address: Farm4profitllc@gmail.comCall/Text: 515.207.9640Subscribe to YouTube: https://www.youtube.com/channel/UCSR8c1BrCjNDDI_Acku5XqwFollow us on TikTok: https://www.tiktok.com/@farm4profitllc Connect with us on Facebook: https://www.facebook.com/Farm4ProfitLLC/ Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Remind people to hit SUBSCRIBE – REMEMBER TO READ REVIEWS Adam Bissell – “Hey Guys! Love the podcast. I am an organic farmer in Central Michigan and get tons of seat time cultivating all summer and your podcast helps me pass the time.  I love all of the guests. Keep up the good work and have a great holiday season!”Set up the Drinking Game (Pick a Word) = cyclonesCarson King @CarsonKing2All about Carson King   Have him tell his story – quicklyWho was the coolest person you met along the way?Who was the biggest let down after meeting them?Where are things at now?What are you doing, how’s the charity?How has Covid-19 impacted your charity/business?You grew up on a farm, remember much about it?Graduated ISU – go clones (fav show Jamie Pollard)Cats or Dogs?Names? – Theme?What is something you are really good at?What have you always wanted to do?Biggest surprise you’ve had in the last few monthsYou’re an influencer – who influences you?How can people get a hold of you?Reminder for:Black Friday/Cyber Monday lists from the listenersOver 30 responsesLink to the list on Farm4Profit homepageWalkabout Mother Bin Commercial – Cost $150,000 recoup in 2-3 seasonsPolar vortex coming 1st of the year – BAMWXSelf-Serve Meat counterElf on the Shelf ideas Want Farm4Profit Merch?  Custom order your favorite items today!https://farmfocused.com/farm-4profit/ Don’t forget to like the podcast on all platforms and leave a review where ever you listen! Website: www.Farm4Profit.comShareable episode link: https://intro-to-farm4profit.simplecast.comEmail address: Farm4profitllc@gmail.comCall/Text: 515.207.9640Subscribe to YouTube: https://www.youtube.com/channel/UCSR8c1BrCjNDDI_Acku5XqwFollow us on TikTok: https://www.tiktok.com/@farm4profitllc Connect with us on Facebook: https://www.facebook.com/Farm4ProfitLLC/ Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The tax planning habits of elite farmers? www.granular.ag - free DEMOwww.farm4profit.com - gift guidewww.walkaboutmotherbin.com - to learn more!IntroductionWhat’s happeningCommercial (one minute)Walkabout Motherbins The Walkabout Mother Bin is an essential piece of harvest equipment offering a large, portable grain storage solution (4,000-bu capacity) and a 22″ Elmer’s unload auger.When in operation, the Walkabout Mother Bin allows the combine to run continuously, eliminating the need to stop and unload. Keep the combine running. Reduce trucks, labor and grain cart cycle times.Has the ability to blend grain with front and rear flow gates.The Mother Bin will allow you to keep up if you are not keeping up in your current harvest situation or if you are keeping up it will allow you to reduce your machines, trucks and labor.What’s working for Ag – GRANULAR (20 minutes)Profitability is the primary goal of all business ventures. Without profitability the business will not survive in the long run. So measuring current and past profitability and projecting future profitability is very important.Whether you are recording profitability for the past period or projecting profitability for the coming period, measuring profitability is the most important measure of the success of the business. A business that is not profitable cannot survive. “ If you aren’t farming for profit, then you won’t be farming for long”To Guest: What ways do you know of farmers monitoring and recordings their profitability and break-even?(1)What could our listeners accomplish by having good detailed records?Making a profitable crop choiceSaving on inputsCompare and or BenchmarkHave speed in decision makingDerechoPurchasesOpportunity ControlClear goalsTask orientedMaking changes on the fly(2) Increasing profitability is one of the most important tasks of business managers. Managers constantly look for ways to change the business to improve profitability.What changes have you seen farmers making to increase their profitability?Variable rate technology/field scriptsAnalyzing delivery locations, dates, basisWatching expenses and invoicesCan Granular’s programs help with this?What are some examples of how Granular can help monitor break even and profit margins?Farm by farm – acre by acre levelsTracking harvestTalks with Deere and othersSchedule tasks for employeesOthers(3) Who should be paying attention or monitoring?Farms of all sizesOwners and employees, who else?Who off the farm?AccountantBankerAdvisors?Can monitoring be used to create incentive packages?If you can track effectively how well your farm is doing.  Could employees be rewarded for doing a good job?Give ownership and develop responsibilityHave any users of Granular used the program for this?Our topic for today is tax preparation.  Is Granular a program that can help with this process?Remind our listeners we have a partnership in place for 10% off up to $1000Taxes ….they still matter A LOT (Kyle Woiwood) Introduce the guest.  Kyle is a Tax Director at LWBJ focusing on tax compliance & consulting. He is a CPA, graduated from UNI in 2011, & has lived in Ames since 2015. He works with many different types of clients & industries, including technology, real estate, ag, & bio-science. He enjoys visiting family and friends, golfing, all whiskey’s, and trying new craft breweries. Why is it important to have a tax planning meeting before the end of the year?When you sit down with a client what is key for the farmer or ag business owner to bring with them to your meeting? Before Year EndAfter Year EndWhy is it important to work with a CPA?What are some of the updates we are facing this year as it relates to ag and ag business?2018 Farm Bill – ARC County/PLC Payments (GI)Market Facilitation Payment (GI)CFAP1 & CFAP 2 Payments (GI)Syngenta Lawsuit Settlement PaymentCrop Insurance ProceedsPPP or EIDL Loans Most farmers work to prepay expenses to help mitigate income levels….As an accountant what is your take on section 179?Can be used for purchases and leasesWhere do you see the tax code for AG headed if the election stands as called?Estate tax, Others, etc….For those who either don’t believe in tax planning, regularly take losses, or who haven’t been tax planning “winging it” what would you say to them or advice you would give them to get started? If a farm operation or farmer is reaching 3-5 years from wanting to retire, what advice would you give to begin working on that plan?Suggestions for transferring assets to the next generationGifting levels? What are some questions our listeners should have prepared for their meetings with their tax preparers?What do you see your top tier of clients doing that your believe got them there or keeps them there.  Both financially and on their farms in general.Are there any other points you’d like to share with our listeners? SummarizeChallengeReminderGranular.ag 10% off up to $1000Outbackwraps.com 20% off your whole order   code FARM4PROFIT Want Farm4Profit Merch?  Custom order your favorite items today!https://farmfocused.com/farm-4profit/ Don’t forget to like the podcast on all platforms and leave a review where ever you listen! Website: www.Farm4Profit.comShareable episode link: https://intro-to-farm4profit.simplecast.comEmail address: Farm4profitllc@gmail.comCall/Text: 515.207.9640Subscribe to YouTube: https://www.youtube.com/channel/UCSR8c1BrCjNDDI_Acku5XqwFollow us on TikTok: https://www.tiktok.com/@farm4profitllc Connect with us on Facebook: https://www.facebook.com/Farm4ProfitLLC/ Hosted by Simplecast, an AdsWizz company. 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