Farm4Profit Podcast

How to become the best customer for your salespersonIntroductionLike, Rate, Review, Share (@farm4profitllc)Read Review “Really enjoy the variety here and the information is enlightening” – RRListener feedback and questions = Contributed to farm4profitllc@gmail.comWho do you know that we could talk to about their successes in growing their farming operation? – Listener feedback question on how to get bigger and growing a farming operation.  Get better first then get bigger.What’s working for Ag – listener or farmer feedbackAle Frick - @Engineer_Farmer (Lake Creek Texas, from Central Europe, degree in mechanical engineering)What is working on your farm that you feel is helping contribute to high profitability, more efficiencies, margin management, or any other positive momentum?Tandem grain carts, custom made planter, wheat drill, metal fabricating.Is this a mentality/mindset, hobby, training, luck?Advice to on how to get started others who could see a few changes like this making a big difference on their farm?   Main Topic: What if your salesperson disliked spending time with you as much as you disliked them coming around? Could the way you behave, react, or think help the relationships you have with sales people?We aren’t insinuating that you don’t like all the sales people that you deal with, but we all know there are some that are better than others.  How about we flip the script?! Do sales people like all their customers?What could you be doing as the customer to make you their favorite customer to do business with?What happens when you are the favorite?First to get a call?Late night, odd hour service?Discounts?Honest advice?Could any of those make you more profitable?Episode #1 was titled Traits of Top Performing Farmers.  We didn’t include being a good customer, but maybe we should have.  We reached out to sales professionals and sales un-professionals around our networks and came up with some common traits of their favorite customers.  If you don’t have these traits and feel like you aren’t getting the service you deserve, maybe there are some changes that need to be made?Matt McCune @ksufearless (farmer & sales agronomist in Hays, KS & storm chaser)Return every phone call.  –and timely!Reduce lying, better to just not lie.  – helps get to the reason behind needing the answerAren’t offended by “20 questions” -  I will ask a ton of questions to find a way to do whatever they need, but sometimes I need more information to get them the answer.Are honest about delivery time frames/windows - When a farmer calls me and asks be to deliver something, I ask "when do you need this by", and quite often they will say "oh, tomorrow or the next day".  When I first started I would drop everything and go running to them; which impresses them, but was sometimes unnecessary due to their scheduling or caused a logistics issue on their farm.Realistically understand the importance of their needs - I will answer my phone ANYTIME. If it’s something that can wait until business hours please do, but I have guys call me just to talk life at 9 pm, and I am there for them.  This game is 90% mental.  Be there for your customersRespect the efforts of going above and beyond. - I have been known to deliver product at stupid odd hours.  One night a customer called me, said he didn’t realize he was low on glyphosate.  I arranged to take him a shuttle at midnight, so that i could also be spraying at first light. He was delighted and it worked out.Mitch Giese @mitch_giese  (John Deere Salesman, Sheldon, IA and farm kid.)Ones who treat me as their peer.  They share information willingly because they know that the more I know about them and their business, the better I can understand their goals and make recommendations accordingly.  Include me in their Advisory Team - They trust me to provide advice that is in their best interest.  Understand my sales position is my JOB - They allow me to make a reasonable profit because they know that sustainability of the industries supporting them is vital to their own survival and pays them back in the long run.  Aren’t confrontational - They don’t make business transactions needlessly confrontational.  They sometimes buy elsewhere if I can’t offer what they need or someone else’s offering is more attractive, but they treat me respectfully when they do. Todd Sampson @td_sampson (Insurance agent with Midwest Insurance, Nevada IA) There needs to be an openness with your sales person - so they know what is important to you.  Being able to articulate the goals of the farm today and the long-term plan of the farm’s future helps the professional have a better idea of what they can do to help make that a reality.Are open to suggestions and implement them: - Most companies will have a risk management meeting with the clients on occasion to make sure the processes and procedures to reduce risk are in place.  Contracts, employee handbooks, safety checklists, etc. are all ways that farmers and ag business companies can reduce their exposure to claims.Kacee Bohle @ConservisKacee (Regional manager for Conservis, traveler & Ag Lover)Be open minded to new things in agriculture, like technology. There are so many farmers who were successful in their prime years ago that are still thinking "this is what I have done and it worked and so I am going to keep doing that", which is not keeping them competitive.  Have a plan to change:  we know that it takes time to implement change, and those clients that understand there needs to be a plan, goals, and a timeline of implementation as well as reflection are usually more successful than those that assume things will just magically work over night.Bodie @Bkitch1Bodie (Regional Business Director for Next Level Ag, central Indiana)1.) Personable and beyond business – are just as interested in learning about me and my goals as I am about them and their goals2.) Engaged and challenging- they aren’t argumentative they are just eager to learn, but also don’t let me slide by with a poor or lazy answer.3.) Genuine in what they do and say. – being straight forward and truthfulConrad @SmithAgConrad (West Central Illinois, Sales Manager Smith Agri-Service)You can’t communicate with me enough.  If that means you need call me 3 times a day or text me 10 times a day to keep me abreast of what’s happening then do it.  My ability to plan & make efficient decision is predicated on how well the producer communicates with me. Many failures occur simply because of a breakdown in communication”.Transparency which goes hand in hand with communication right? Their expectations based on the service level they pay for should match what I can deliver. Things work well when I’ve earned a producers trust to the point where we can sit down and take an honest look at yield history, market prices, expenses & make a decisions that fit the farm.  Tom Hadley @TomHadley55  (Territory Manager for Gerinhoff heads – Southeast IA)Treat me like a family member - My favorite traits of a farmer that I have a great relationship are the ones that start off as “cold” and “hard to get to know”. After a while it turns into you are almost a family member after you break down the walls and show that you want them to be profitable with you not you making profit from them. I like to be face to face - and don’t like texting. I want to hear your voice – the tone or confidence/worry. What can I do to make your day better?They don’t dismiss early – The worst traits of most Farmers is they always have a reason why it’s not time to buy in the first minute of a conversation without the question even being brought up.  Our time is just as valuable as yours.Andrew Klein @SmartBarnOhio (Owner of Smart Barn – wireless sensors Dayton OH)First off, be nice and treat others like you want them to treat you. You’d be surprised (or maybe not surprised?) how often I’ve been mistreated on the first phone call. When I’m working with a potential customer, I always treat them kindly. But man does it get tougher if they treat me like garbage. And honestly, I avoid new business from people who are assholes, go find another asshole who wants to help you, I've got plenty of work and I'd rather work with people who like me. Second, don’t treat me like a highway robber. My prices are my prices, and while there’s some room for negotiation, I’m giving you the best deal I can afford already. If you genuinely can’t afford my product, or don’t see the value then please let’s do each other a solid and just walk away.Finally, communication! Tell me your concerns, thoughts, gripes, things you like, in a calm, adult way, and I guarantee we can figure out a win-win. I can help a lot better if we’re communicating. Honestly I always go above and beyond and think most sales people do, but if you follow the golden rule its way more likely your salesperson is going to go way above and beyond!ME (Tanner)-Aren’t afraid to tell me “NO”. – saves me time, effort, and worry if you just fill me in.  It won’t hurt my feelings, I am a professional that gets told “No” a lot.Schedule the meetings when they can. -I have more clients than just one, so my favorite ones call to schedule an apt, or if its last minute at least call to let me know they are comingMeals and Beverages not necessary, but it is a perk.  For the same reasons like to bring food the field and treat my clients to lunch.  It leaves a lasting impression. (in laws cooked lunch for mechanic)YOU (David)-Leave Online reviews – You help make me look good and ill work extra hard to make you look goodTrust me. -I will work hard and in your best interest for you.  It does me no good to hold information that would benefit you until a later time.  When I learn something I will tell you.ChallengeFigure it out, are you doing these or do you have areas to improve?  The next time you “want something” from your sales person, try using one or multiple of the suggestions.  Then let us know how it turned out! @Farm4profitllcConference UpdateIt’s on for December 4, 2020! 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.

Tanner and David review an article written in Wallaces Farmer about the lessons we learned from the fields in 2019. 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.com Shareable episode link: https://intro-to-farm4profit.simplecast.com Email address: Farm4profitllc@gmail.com Call/Text: 515.207.9640 Subscribe to YouTube: https://www.youtube.com/channel/UCSR8c1BrCjNDDI_Acku5Xqw Follow 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 https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Understanding Crop InsuranceIntroductionWhat’s happening – Steve Johnson ARC-PLC Update RECAP FROM EPISODE #11 Reminder that Steve Johnson is a Farm Management Specialist with Iowa State University Extension and Outreach. Has his Ph.D., Vocational Education, Colorado State University, M.S., Agricultural Education/Economics ,B.S., Agricultural Education, Iowa State University and the resident expert on all things Farm Bill.  I’d say maybe 20% to 30% of farmers have figured out ARC/PLC Decisions and are heading to the FSA office. About 50% will do what their neighbors are doing. I think the other 20% to 30% will wait until the deadline (March 2020) and see if it’s extended or just default into whatever they signed up the past 5 years (ARC-CO).Steve’s observations:Always start the ARC/PLC decision with the effective reference prices of $3.70/bu corn and $8.40/bu soybeans.  Will the MYA national cash price for the 2019 and 2020 crop years be below those prices?Use WASDE for 2019 and FAPRI for 2020 MYA national cash prices (see spreadsheet). Please link this Farm Bill Information where we’ve placed the ARC/PLC Payment Estimator, PLC Yield Update Tool and 4 videos if you missed the 80+ public meetings. <https://www.extension.iastate.edu/agdm/info/farmbill.html>  I attached a Marshall County farm for a couple crop insurance agents on Friday, Jan. 17th. If a farmer would plug in their own numbers, they can see the interaction of national cash price and county yields.Steve’s assumptions: Thus the low corn prices in 2020 will pull more farmers to the 2-year PLC election, assuming normal county yields. Expect USDA to increase 2020 corn planted acres 2 to 4 million acres at the Feb. 20th Ag Outlook Conference which should lower the 2020 cash price projection below $3.70/bu.Since there likely won't be any PLC payments for soybeans in 2019 and 2020, ARC-CO is the overwhelming choice. Farmers will chose ARC-CO on most all soybean base acres because the projected cash price was not below $8.40/bushel I 2019 or 2020.Since most Iowa farmers will take PLC on corn base acres, they might be interested in pricing Supplemental Coverage Option (SCO) for 2020. To buy SCO, the crop on that farm needs to have elected and enrolled in PLC.  SCO is a county-based revenue product can be added on to the traditional Revenue Protection product. It’s subsidized at 65% federal subsidy that make a relative “inexpensive way” to buy up to 86% total coverage.  There are some drawbacks on SCO:No indemnity payment until June following harvest.You might have yield losses on your farm, but not the county.No prevented planting benefits with SCO.SCO could fit well on seed corn acres since farmers typically buy low levels of coverage.Using Crop Insurance to where it is more than just an expense to your farm.  It doesn’t have to be “just what we have always done……”Guest Blair Brody, Sales Executive for HUB International Limited in Mason City, Iowa.Blair please share with our listeners your background, experience, and a little about HUB International Limited.Could you layout a few of the basic differences in the types of crop insurance available? The basic crop insurance product is government regulated, so what makes each provider different?Are there added coverages?  Could you explain the buy up options?Other products available?What area do you service clients in?For most of your clients (depicted area) what have you been suggesting their product mix look like?What are you most successful clients doing differently than others? With insurance choices….On their farm in general…For the listener out there who has just always doing the same thing or is early on in their farming careers what pieces of advice would you have for them?What would you share with the listener who believes insurance is just a waste of money, throwing premium down the drain?What is your take on achieving self-insurance? What does it take to get there?What are some questions our listeners should be asking their agents this year? Do you have any remaining advice or information you’d like to share with our listeners? Please remind us of the deadlines as they apply to the 2020 growing season for crop insurance.Submit questions and topic suggestionsOur next episode is focusing on being a good customer.  If you have any good stories to share with us about when you feel you were a good or great customer please let us know.  Farm4profitllc@gmail.comLike, Rate, Review, and Share! 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.

8-Lessons Learned from 2019Tyne Morgan – AgWeb – Farm Journal12/27/20192019 will go down as one of the most challenging crop-growing journeys in history; much of that stemming from unforgiving weather.  Late planting, unforgiving conditions, leading to a wet and snowy harvest.The yield story is one many growers didn’t see coming, creating a year full of agronomic lessons that could last a lifetime.For instance, we would tell a grower not to mud corn in unless he's doing it for crop insurance. That corn stand is so crucial, make sure you get it right.Not so much to worry about the calendar but to focus on the quality of job getting done.2019 taught everyone that planting dates don’t always matter.Stop worrying about the neighbor and know what is right for your farm.If we look at planter studies and planter attachments and how we can teach the planter to dance, it's just as important on June 5 as it is on May 5 as it is on April 15Don’t get in a rush and forget about necessary planter maintenance and set up.As genetics continue to improve, the crop is a little more forgiving when it comes to weather and planting dates. The idea of getting in a panic and forcing that crop in, I don't think we have to do that anymoreBe patient and know what the hybrid’s strengths are – cold germ tests.We have the technology that allows us to plant fast and do it in marginal conditionsSee item #1  marginal is still better than mud, but the pace is faster than it used to beWith a lot of our new genetics today, the last 30 days make the cropThe whole year matters, hope and disciplineDon't never walk away from a growing crop,’ because you don't know when the next opportunity is going to come along.Some tore out a marginal crop only to get another marginal crop plantedStick to your marketing plan.  Delayed planting sprouted a bullish reaction in the markets. Once the market realized a late-planted crop could still be made, that reaction turned sour.Those with less emotion involved took advantage of what the market gave for opportunities.https://www.agweb.com/article/lessons-learned-2019-planting-dates-dont-matter 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.

Ways your banker can work for you-For TannerIntroductionWhat’s working for Ag – listener or farmer feedbackNoah Wendt of A & W FarmsOrganic farmingHow can your banking relationship better benefit your farm?How can it not? The relationship should not be filled with a well I don’t know if they will keep me around for another year. Or I’m not sure my line will get renewed. Communicate early and often so there aren’t any surprises for either party.Learn more about what your banker is looking for. If you learn how to provide the information your banker needs more timely, more organized, and more accurate it should provide a more favorable response.Faster answers because it’s easier and probably gets moved to the top of the list.Better rates because each loan gets a factor for how good of a manager you are.Work with them to make sure your information is accurate. The more you learn about reading a balance sheet or putting a projected cash flow together the better you can spot mistakes.They do happen, don’t let them cost your farm time or money.Get more out of them for free! You’re already paying the interest and random fees. If you communicate clearly what your goals are for your farm a good banker will intuitively want to help you succeed.Make connections for you, share opportunities, grant loan requests, find items for sale, etc…Make sure they are a part of your advisory team (future). Leverage their education and experience to make sure your farm is positioned correctly, poised for growth, or prepared to wind down.Keep them honest. Unfortunately, repetitive relationships get into a rut for pricing, structure, and more. It doesn’t cost anything to have a relationship with another banker. Be open and set honest expectations, but those conversations can lead to interest savings, proper structure or new ideas.SummarizeKeeping your banker in the loop helps keep your farm running strong. The less surprises there are the better the experience will be. Don’t dread going into see your lender, but form a relationship of trust where you look forward to what you can gain from the meeting. If you don’t have this now, maybe you need to build a new relationship.ChallengeHow comfortable are you navigating a balance sheet or cash flow statement? Make an appointment with your banker to ask what you could provide them to help make their process go smoother. DO you consider your lender to be an advisor? Are there other lenders in the area you could network with to begin building a relationship with?Conference UpdateSubmit questions and topic suggestions 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.

Agriculture and a decade of changehttps://www.keyc.com/2020/01/01/agriculture-decade-change/?outputType=ampBy Alison Durheim | December 31, 2019 at 6:41 PM CST - Updated December 31 at 7:59 PMMachine Linking – Autonomy auto steer on tractors and combines that were really pretty new at the beginning of the decade (2002) and now they’re pretty much standard procedures out there and now those advancements continue with combine automation, automatic grain carts, and synced machinesGenetic improvement in crops and livestock also took the stage during the decade from rate of gains, to stand ability, and production potential.I don’t think most people realize that 40 percent of our 'ag’ exports were going to three countries, China, Mexico and Canada until the last couple years when we have trade issues with all three of those countries at the same time, and we definitely saw the impact it had on our grain and livestock markets,” said Thiesse.  However, we’ve opened up trade lanes with other countries until relationships repairWhile most markets saw continuous fluctuation in prices and cost of production throughout the decade, a new industry made leaps and bounds thanks to the 2018 Farm Bill.“Hemp has been something that, beginning of the decade was kind of a nasty word in most people’s mind, but by the end of the decade it’s now viewed as an alternative crop,” said Thiesse.Minimal tillage methods and the inclusion of cover crops have grown throughout the decade as farmers look to be stewards of the land and earth’s natural resources, and with trade talks and agreements rounding out the year, the decade is ending on a high note.The first iPad was released on April 3, 2010; the most recent iPad models are the seventh-generation iPad, released on September 25, 2019;In December 2015 the FAA announced that all UAVs weighing more than 250 grams flown for any purpose must be registered with the FAA and in December 2019, the FAA proposed a ruling requiring all unmanned aircraft systems (UAS) to be equipped with a devise to identify them The advancements of row crop farming practices moving to high-speedHigh Speed tillage with discs and vertical tillagePlantingHorsePowerLivestock production monitoringFeed rations – automationAnimal ID cameras for habit learningHealth and wellbeingProduct sourcement – labeling 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.

Understanding The Hemp Industry and It’s Effects on Profit.IntroductionSubscribe, Rate, Review, Follow, ShareText 515.207.9640 / E-mail farm4profitllc@gmail.comAnswer questionsWhat’s working for Ag – listener or farmer feedback - Tim Couser, Central IowaCommodity groups, video messaging, staying in shape.It’s not a waste of time if you uncover something valuable-What could hemp do for the industry and your farm.Please introduce yourself, your background with hemp, and your company’s role in the process…..Jeffery Yarosz CEO of www.flura.comWas the 2018 FarmBill a turning point for the hemp industry? Why?Yes, federally legalized the growing.What is hemp grown commercially used for?Nuetrasuticals, paper, plastic, CBD, grainsWhat rate is the hemp acres growing?  Is there demand to help support the growth?Infrastructure is neededWhat is the best climate to grow hemp in?Plants will be bred to be grown in all climatesWhen grown do you have to use precautions like security fencing, monitoring, etc….?the power of communication is key.Up until lately this process has been very manual including the labor from many people.  What is the industry doing to make the process more automated?Flura is focusing on seed genetics and mechanizing the process.Half of our listener base is from Iowa.  Is this something farmers in Iowa could look at growing? Yes, toughest part will be getting the final product to market.What would the outlet be for sale?Dried down and shippedWhat is the best way for a farmer who has interest in learning more go about doing that?visit www.flura.comWe’ve heard of the expertise being tribal, is it hard to farmers to gain knowledge?Buy seed by the pound/bushel/unit?Where do you buy it?  Buy it by the pound.  www.flura.com is one sourceSell the grown product by the pound/bundle/unit? Where do you sell it?Our podcast is based on profitability.  How can or has growing hemp as a commercial product helped farmers achieve higher levels of profitability?What are the numbers roughly for costs to grow and revenue per acrerevenue could be up to $30/lbs sold and an acre can grow 8000 lbs of materialCould these prices be tempered as interest spreads for growing the crop?certainlyFor the listener who doesn’t believe in this market as a viable crop, what would you say to them?try itFor the listener who is excited to continue learning more and give this crop a try, what would you say to them?Summarize ChallengeWhat Next?Submit questions and topic suggestions 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.

Successful Farming10 Trendy Tech Gifts for FarmersX-CAP RECHARGEABLE LIGHTED HAT This one-size-fits-most knit hat is designed to keep you warm while the four LEDs with 120 lumens of light help guide you in the dark. Simply push the light in to turn it on. Choose from three different intensity levels to get just the right amount of light. The X-Cap’s rechargeable lithium-ion battery lasts for four hours on a full charge and easily charges via USB. When the light is in the hat, a cover over the USB port keeps it protected. When it’s time to wash your hat, simply pop the light out. It’s $25 at thegrommet.com.Timberland Men’s Touchscreen GlovesWhen you’re searching for a good pair of touchscreen gloves, finding the right combination of warmth, dexterity, and grip can be a challenge. The Timberland Ribbed-Knit Wool-Blend Gloves are a nice solution. These well-made gloves aren’t bulky, yet they offer the warmth needed in colder weather. Features include touchscreen-friendly fingertips and a textured palm for extra grip. The range in price from $12 to $30 at amazon.com. CUJOBillions of connected devices are increasingly exposed to virtual threats. Traditional security solutions are outdated since cybercriminals create new ways to reach into your home every day. CUJO is a smart firewall that keeps your connected home safe. From smartphones to laptops, CUJO secures all devices against hacks and web threats. An added bonus is that it lets you control what your kids access online to help keep them safe. CUJO is around $85.Aquatune and 2-in-1 CableThe Aquatune 5712 is a go-anywhere speaker that easily syncs via Bluetooth or the in-line cable with your devices. When fully charged, it can play up to 12 hours depending on volume. Charge time is about one to two hours. With its signature All Weather Sound technology, you can stream your tunes in the harshest environments because it’s weatherproof, shockproof, and dustproof. It’s $39.99 at shopyatra.com.Urban Armor Gear Pathfinder CaseThe Pathfinder Series Cases feature composite construction with an armor shell and impact-resistant soft core. Each case is equipped with scratch-resistant skid pads and screen surround for maximum device protection. It meets military drop-test standards and is available in rust, black, and white. Price ranges from $34.95 to $39.95 at urbanarmorgear.com. Belkin Road RockStarCharging is no longer limited to the front seat. The Belkin Road Rockstar with four USB ports actually has two ports up front. A 6-foot cable extends into the back seat, so passengers can attach to the hub that offers two more USB ports. It also clips to the backseat car pocket. It’s $39.99 at belkin.com.Milwaukee TICKThe Milwaukee TICK is a Bluetooth-enabled device that lets you track tools and equipment. It is designed to survive water, cold, mud, dust, and more. Simply sync the TICK with Milwaukee’s ONE-KEY app and you’re ready to start tracking. Tool records and locations are updated when any device with the ONE-KEY app comes within 100 feet of the TICK . . . and the app doesn’t have to be open for this to happen. Users can also manage all of their tools through the app’s Simplified Tool and Equipment Management features. These features allow users to assign and store detailed information for all of their tools and equipment. The TICK is powered by a coin cell battery that provides over one year of run time. One TICK is $19, a four-pack is $99, and a 10-pack is $179. Milwaukee Ultimate Jobsite BackpackThe Ultimate Jobsite Backpack is designed for ultimate durability, protection, and storage. It features a durable hard molded base and rugged metal zippers, plus 48 total pockets including two hard-shell pockets designed to protect electronics and equipment from impact. A padded and breathable load-bearing harness evenly distributes the weight for comfort. It’s $119 at milwaukeetool.com.Retro Classic KeyboardInspired by vintage typewriters and crafted with ultramodern features, the Azio Retro Classic is a nice mix of past, present, and future. A backlit mechanical keyboard with round key caps that evoke nostalgia of yesteryear complemented with a durable zinc-alloy frame and a sumptuous genuine leather surface. It’s $189.99 at aziocorp.com.SpotOn Digital Soil Compaction MeterCreated for farmers and agronomists, the SpotOn digital soil compaction meter automatically displays the maximum compaction value when the probe is extracted from the soil. The probe has a usable length of 30 inches and the stainless steel shaft is marked every 4 inches for easy depth reference. Compaction levels are shown with a green (0 to 200), yellow (200 to 300) or red (300+) code. The company says the meter is accurate within 15 psi. It’s made in the U.S.A. and is $419 with a one-year warranty.  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.

Please rate, review, and share our podcast!What’s happeningFarm4Profit Conference was 12/6/1961% of our attendees filled out an event survey  rated the conference 4.58 out of 5 starsThanks for a great eventGreat speakersSpeakers were very practical and relatableLots of good infoThis needs to be better advertised, more farmers need to attend this meeting and thank you to the sponsors for putting it onNeeded Pepsi instead of CokePlease make the speakers repeat all questionsWhat’s working for Ag – listener or farmer feedbackJason Mauck presented about his relay cropping and intercropping practices.  This last year he planted “twin Row” 60 iinch wheat and 20 inch beans. In his talk he mentioned using less of the inputs than typical relying on the manure to power the wheat and the cover to reduce weeds.  Ended up with 50 bushel wheat and 80 bushel beans.He also planted corn and beans together and harvested with a platform head.  We have his talked recorded and will be releasing his message and the other speakers messages here before too long!Taxes with a capital “T”?Introduce the guest. Kyle “why-wood”  Kyle specializes in Tax Services. He provides expertise in partnerships, corporations, and LLCs. He received his Bachelors in Accounting from the University of Northern Iowa.Memberships & Community Service:Member, American Institute of Certified Public AccountantsMember, Iowa Society of Certified Public AccountantsWhat are some of the updates we are facing this year as it relates to ag and ag business?1031 exchangeSection 179 As an accountant what is your take on section 179?Paying ChildrenMaking retirement contributions Why is it important to have a tax planning meeting before the end of the year? When you sit down with a new client or perspective client how does that first meeting usually go? After you have worked with clients for a while what are ways you or other accountants can bring value year after year?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. 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 generation Have you been a part of an open communication stream with a farmer’s advisory team?  What was beneficial in that relationship or what could be the benefits of a structure as such? What are some questions our listeners should have prepared for their meetings with their tax preparers? Are there any other points you’d like to share with our listeners? SummarizeTake notes during the interview to summarize.  Hit on how important tax planning can be on the farm. Tie back the obvious to growing farm profitability.ChallengeSpell out steps for them to begin taking action. Refer to the points made by the presenter.Conference UpdateSubmit questions and topic suggestions 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.

5 tax tips every farmer should knowCredit Karma Tax® 1. Know whether your farming activity countsWho does the IRS consider a farmer? If you grow veggies in your backyard garden on the side and sell them at a roadside farm stand, does that qualify you as a farmer?The IRS says you’re a farmer if you “cultivate, operate or manage a farm for profit, either as an owner or a tenant.” Farms include plantations, ranches, ranges, orchards and groves, and you can raise livestock, fish or poultry, or grow fruits and vegetables.But your backyard produce sales probably won’t qualify you as a farmer for tax purposes — especially if you also work a full-time job that’s not farming-related. Instead, the IRS would likely consider the money you make from your victory garden as hobby income, since you don’t depend on that income for your livelihood.As a result, you wouldn’t have access to the tax breaks the IRS affords farmers.2. Know what you must claim as incomeAs a farmer, you’re likely to have multiple streams of income, and there may be some income sources that you didn’t know you needed to report.To help, here’s a quick list of farming income you may have to report.Sales of livestock and other resale itemsSales of livestock, produce, grains and other products you raisedDistributions from a cooperativeAgricultural program paymentsCommodity Credit Corporation loan proceeds (you can choose to count this as income if you pledge part or all your production to secure the loan)Crop insurance proceedsFederal crop disaster paymentsIncome you received for custom hire or machine workGasoline or fuel tax credit or refundsIf you own a farm operated by a tenant and you didn’t materially participate in the farm’s management or operation, you’ll also need to report rental income based on crop or livestock shares the tenant produces. But you won’t have to pay self-employment tax on the rental income.As a farmer, you may have many sources of taxable income — including bartering, cancelled debt, prizes from livestock competitions and more. See IRS Publication 225 to learn more about farm income. Because there are so many different income sources you must report, it’s important to keep meticulous records throughout the year to make it easier to file your return correctly. You’ll report the income, along with your expenses, on Schedule F of Form 1040.3. Know what expenses you can and can’t deductFarmers get a lot of deductions for the expenses they incur, but that doesn’t mean you can deduct everything. Here are the five expenses you can’t deduct.Personal or living expenses that don’t produce farm income (e.g., the cost of repairing your home)Expenses of raising anything you or your family used (e.g., if your farm business is growing vegetables, but you raise hens for your family, the costs of raising those chickens is nondeductible)The value of raised animals that diedInventory lossesPersonal lossesFortunately, the list of expenses you can deduct is much longer. Here are some examples.Seeds and plantsVeterinary costs for livestockDepreciationChemicalsFeedFertilizers and limeInsurance (other than health)Mortgage interestStorage and warehousingSee Part II of Schedule F for a comprehensive list of deductible farm expenses.Get a max refund guarantee Start Filing Now 4. Take advantage of other tax breaksIn addition to deducting your expenses, there may be other deductions and credits you can take as a farmer.Home office deductionYou may be able to deduct certain expenses using the home office deduction if you used your home to conduct farming business. In order to qualify, you must have used part of your home exclusively and regularly as the principal place of business for your farming operation, and you cannot have another fixed location from which you managed and administered your business.Check out IRS Publication 225 to learn more about business use of your home when you’re a farmer.Deducting net operating lossFarming can be an unpredictable business. One year you may have a bumper crop and make a tidy profit, while the next year sees drought and disease eroding your income. When deductible losses from operating your farm exceed your other income from the year, or you experience a personal or business loss that was more than your income, you can see a net operating loss.When that happens, you may be able to carry the loss back up to two years and deduct it from income you had in those years. If you carry the loss back, you may be able to get a refund for all or some of the income tax you paid for that past year. Alternatively, you can choose to carry the net operating loss forward for up to 20 years.Claiming fuel creditsIf you used gasoline or other fuels for farming purposes, you might be able to claim a credit or refund on the excise taxes you paid. Note, however, that you can’t get a credit or refund for taxes paid on dyed diesel fuel and dyed kerosene.Before you claim a fuel credit, be sure you understand the rules, requirements and limitations for doing so. Check out IRS Publication 225 to learn more.Earned income tax creditAlthough it’s not specifically designed for farmers, the earned income tax credit may be available to you if you meet the qualifications.The credit is designed for working people with low to moderate income, so you may not be eligible if your net farm profit exceeds a certain amount. Check out the IRS publication on the EITC for more information.5. Get help with filing if you need itCredit Karma Tax® offers free filing for everyone, and supports some of the most-common tax forms used by business people, including Schedule F Profit and Loss from Farming. But depending on the complexity of your farm’s finances, you may want to get help from a tax professional. This may be especially important if you’re new to farming or you haven’t done your own taxes in the past.Our next week’s guest will be Kyle Woiwood from LWBJ Accountants.  We hope that conversation will shed some light on the changes year over year to pay attention too. 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.