Illinois Corn, Soybeans: How Much Did It Cost to Produce a Crop in 2018?

🕔Apr 22, 2019In 2018, the total of all economic costs per acre for growing corn in Illinois averaged $875 in the northern section, $877 in the central section for farmland with “high” […]

Farm Finances: End of Year Tax Planning for 2018

🕔Sep 24, 2018Harvest is consuming most of your attention right now, but consider taking some time to review your accounting records in anticipation of planning for the end of the year. With […]

Illinois: Ag Debt Continues to Increase – How Does Your Farm Stand?

©Debra L Ferguson
🕔Aug 20, 2018Agricultural debt on a nominal basis in Illinois has been increasing since 1991. Data from the U.S. Department of Agriculture (USDA) and Illinois Farm Business Farm Management (FBFM) are shown […]

Farm Business: Cash Is King – 4 Methods of Measuring Liquidity

🕔Jul 25, 2018In good times cash is king and in not so good times it is even better.  There are three primary liquidity ratios that are important from a business perspective.  And […]

Illinois Grain: Machinery Value Comparison – 2006 v. 2016

🕔Jun 18, 2018As farm incomes began to increase after 2006 due to higher grain prices, machinery values began to increase as well. There are many reason for this increase. We will compare […]

Illinois: Characteristics of Higher Profit Farms in 2017

🕔May 21, 2018This article uses 2017 data from Illinois Farm Business Farm Management to highlight selected differences between the highest profit grain farms (high one-third) and lower profitability grain farms (low one-third). […]

Illinois Corn, Soybeans: Costs of Production in 2017

🕔Apr 23, 2018In 2017, the total of all economic costs per acre for growing corn in Illinois averaged $876 in the northern section, $868 in the central section for farmland with “high” […]

Illinois: Farm Family Expenses Budgeted on a Per Acre Basis

🕔Mar 19, 2018Family living expenses are not a tax-deductible expense of the farm business, but they must be budgeted for to sustain the living expense of the farm operator and their family. […]

Illinois: Why Should Farmers Know About the Illinois Schedule SA Income Allocations?

🕔Feb 19, 2018On July 6, 2017, Illinois Public Act 100-0022 became law. One item in this Act was an Illinois income tax rate increase effective July 1, 2017. The Illinois income tax […]

Farm Business: Establish Your Own “Board of Directors”

🕔Jan 23, 2018Successfully managing your farm business is an ongoing process. There are many resources, tasks and processes to manage. Being self-aware of the many things that vie for your time and […]

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