The Latest

Events

  1. Illinois: Crop Management Conferences, Jan. 20 – Feb. 10

    January 20 @ 8:00 am - February 10 @ 8:00 am
  2. Texas: Wild Pig Management Workshop, Luling, Feb. 9

    February 9 @ 8:00 am - 5:00 pm
  3. Ohio: Corn College Workshop, Greenville, Feb. 10

    February 10 @ 8:00 am - 5:00 pm
  4. Arkansas State Agribusiness Conference, Jonesboro, Feb. 10

    February 10 @ 8:00 am - 5:00 pm
  5. Texas: Feed-Grain Marketing Workshop, Amarillo, Feb. 10-11

    February 10 @ 8:00 am - March 11 @ 5:00 pm
  6. West Florida Crops Meeting, Jay, February 11

    February 11 @ 7:45 am - 12:00 pm
  7. Georgia: Ag Business Planning Workshop, Glennville, Feb. 11, 18

    February 11 @ 8:00 am - February 18 @ 5:00 pm
  8. Alabama-Florida Peanut Trade Show, Dothan, February 11

    February 11 @ 8:00 am - 5:00 pm
  9. Four States Agricultural Exposition, Texarkana, Feb. 11

    February 11 @ 8:00 am - 5:00 pm
  10. Ohio: Agronomy Workshops, Wooster, Feb. 15, 16

    February 15 @ 8:00 am - February 16 @ 8:00 am
  11. Louisiana: Irrigation Management Workshop, Marksville, Feb. 16-17

    February 16 @ 8:00 am - February 17 @ 8:00 am
  12. Tennessee: Irrigation Meeting, Somerville, Feb. 16

    February 16 @ 8:00 am - 5:00 pm
  13. Tennessee: Cotton Focus Meeting, Jackson, Feb. 18

    February 18 @ 8:00 am - 5:00 pm
  14. Illinois: Ag Tech Innovation Summit, Champaign, Feb. 18

    February 18 @ 8:00 am - 5:00 pm
  15. Texas: Oil, Gas Leasing Workshop, College Station, Feb. 22

    February 22 @ 8:00 am - 5:00 pm
  16. Texas: Wild Pig Management Workshop, Burnet, Feb. 24

    February 24 @ 8:00 am - 5:00 pm
  17. Virginia: USDA Agricultural Outlook Forum, Arlington, Feb. 25-26

    February 25 @ 8:00 am - February 26 @ 5:00 pm
  18. Georgia: Pest Manager Training, Forsyth, Feb. 25

    February 25 @ 8:00 am - 5:00 pm
  19. Tennessee: Winter Row Crop Marketing Meeting, Mason, Feb. 25

    February 25 @ 8:00 am - 5:00 pm
  20. Texas: Rice Technical Working Group, Galveston, March 1-4

    March 1 @ 8:00 am - March 4 @ 8:00 am
  21. Texas: Rice Technical Working Group Conference, Galveston, March 1-4

    March 1 @ 8:00 am - March 4 @ 5:00 pm
  22. Indiana Small Farm Conference, Danville, March 4-5

    March 4 @ 8:00 am - March 5 @ 5:00 pm
  23. Kansas: 103rd Annual Cattlemen’s Day, Manhattan, March 4

    March 4 @ 8:00 am - 5:00 pm
  24. Kentucky: Integrated Pest Management Training, Princeton, March 2

    March 6 @ 8:00 am
  25. Oklahoma: Irrigation Conference, Woodward, March 8

    March 8 @ 8:00 am - 5:00 pm
  26. Oklahoma: Pecan Management Course, Stillwater, March 8

    March 8 @ 8:00 am - 5:00 pm
  27. Missouri: Free Pesticide Collection Event, Portageville, March 12

    March 12 @ 8:00 am - 5:00 pm
  28. Florida: Carinata Summit, Quincy, March 15-16

    March 15 @ 8:00 am - March 16 @ 5:00 pm

 

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Arkansas: IRS May Give Drought-Slammed Cattle Operations Extra Filing Time

AaronT
By Mary Hightower Cooperative Extension Service U of A System Division of Agriculture March 11, 2013

Arkansas: IRS May Give Drought-Slammed Cattle Operations Extra Filing Time

Arkansas ranchers who sold livestock in 2012 due to the drought may get a little extra time from the Internal Revenue Service to report income from sales.

There were many ranchers who did sell last year. A study of the drought’s effects on the state’s beef cattle industry done by the University of Arkansas System Division of Agriculture (See: http://srmec.uark.edu/beef/) found that 49 percent had sold more mature cows than in a typical year and 41 percent sold more heifers.

        
         

“These early sales may have been caused by shortage of water, poor grazing conditions, low feed production, or other consequences of weather-related conditions,” said Nathan Kemper, trade adjustment assistance coordinator for the Southern Risk Management Education Center.

Kemper said there are two tax options available to livestock producers and the producers must meet all of the following conditions to qualify for either option:

  1. You use the cash method of accounting.
  2. You can show that, under your usual business practices, you would not have sold or exchanged the additional animals this year except for the weather-related condition.
  3. The weather-related condition caused an area to be designated as eligible for assistance by the federal government.

The first tax option enables ranchers to postpone reporting taxable gain on additional sales of any livestock for a year. Option two enables ranchers to postpone and avoid taxes on gains from the sale of breeding, draft or dairy animals if they are replaced within a specific time frame.

Kemper strongly advised that ranchers contact their CPA or tax specialist on their options and should refer to the IRS Farmers’ Tax Guide for 2012 returns: www.irs.gov/pub/irs-pdf/p225.pdf.

 

AaronT
By Mary Hightower Cooperative Extension Service U of A System Division of Agriculture March 11, 2013