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Q&A: Hiring Vets; Partnership; Office Deductions?

By Andy Biebl, DTN Tax Columnist

January 18, 2016

QUESTION 

We have a small farm operation. I am considering hiring a 27-year-old who has been in the Marines for five years. He is getting out in a few weeks. Would there be any tax advantage in hiring this guy? He’s from out of state and would need housing as well. I could really use him but with low commodity prices I’m struggling with my finances.

ANSWER 

Hiring your first employee is a big step, so begin by investigating with a local tax professional the costs of payroll taxes, and with an insurance agent the cost of workers’ compensation. The basic Social Security taxes are split between employer and employee, but with unemployment taxes...

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Louisiana Wheat: Nitrogen Management Crucial for High Yields

By Boyd Padgett, Steve Harrison, Trey Price, and David Kerns, LSU AgCenter January 22, 2016 Nitrogen (N) management can dramatically influence wheat grain yield. The current recommendation is to apply 90120 lb/A of N during the growing season. The exact rate depends on soil type, previous crop, and crop condition. The total of N amount should be split over two to three applications beginning at green up (Feeke’s Growth Stage 5) and ending with an application at or just prior to jointing (F7). This strategy is intended to minimize N loss due to volatilization, leaching, or denitrification. The initial application is usually made during early February in South Louisiana and mid-February in North Louisiana. With all of the rainfall we have experienced since planting it is likely that most...
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Domestic Beef Demand Bear Watching in 2016

OMAHA (DTN) -- Livestock exports will likely improve in 2016, but foreign trade and domestic beef demand will be vital issues in 2016, according to experts.

DTN Livestock Analyst John Harrington said he believes 2016 exports will improve over their performance seen in 2015, especially beef. He said he looks for U.S. beef, pork and poultry exports to be up 9%, 5% and 9%, respectively.

The strengthening U.S. dollar could also affect exports in 2016, Harrington said.

"If the dollar continues to gain on foreign currency as it did through 2015, export demand could turn out to be softer than I currently imagine," he said. "That would be bad news for domestic price potential with U.S. consumers asked to eat even more meat."

There is...

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