Category Archives: Management Calendar

The Management Calendar

Gordon Groover, Extension Economist, Farm Management, Department of
Agricultural and Applied Economics, Virginia Tech

Listed below are the items that should be considered for inclusion on the farm business managers’ calendar for spring and summer of 2014:

  • Half the business year will soon be behind us and a six-month financial record check-up is in order.  Updating your records through the month of June allows you to quickly gauge financial progress by comparing the farm’s actual expenses and income to your budgeted amounts.  If you did not develop a budget, compare your mid-year expenses and income to half the items reported on your 2013 Schedule F.  Flag any items that are different from budgeted amounts.  These differences are not necessarily problems, just items that need to be examined and explained. Continue reading
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The Management Calendar

Gordon Groover, Extension Economist, Department of Agricultural & Applied Economics, Virginia Tech

Listed below are the items that need to be included on the farm business managers’ calendar for spring of 2014. Continue reading

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The Management Calendar February-March

Gordon Groover, Extension Economist, Farm Management, Department of Agricultural and Applied Economics, Virginia Tech

 Listed below are the items to consider adding to your farm business manager’s reading list and calendar for the next two months.

• Income taxes and related items:

  1. Farmer that do not pay estimated taxes, your 2013 return and taxes are due March 3, 2014. For Farmers that pay estimated taxes (using Form 1040-ES). You have until April 15 to file your 2013 income tax return (Form 1040).
  2. Virginia income tax returns must be postmarked by May 1, 2014.
  3. Need to find out more information about federal taxes relating to your farm business? The Farmers Tax Guide IRS Publication 225 is online and can be found at: http://www.irs.gov/file_source/pub/irs-pdf/p225.pdf Continue reading
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The Management Calendar

By Gordon Groover Extension Economist, Department of Agricultural & Applied Economics, Virginia Tech

Farm business managers should consider putting the following activities on their management calendar for December and January.

  • Before the end of the year (calendar tax year filers), follow up on end-of-year tax management strategies recommended by your tax advisor.  Additional information can be found in IRS publication 225 Farmer’s Tax Guide at www.irs.gov/pub/irs-pdf/p225.pdf.  Hard copies of Farmer’s Tax Guide can be obtained from many of your public libraries.  Continue reading
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The Management Calendar

By Gordon Groover (xgrover@vt.edu), Extension Economist, Farm Management, Department of Agricultural and Applied Economics, Virginia Tech 

Selective information available that might be useful for fall reading:

  • A must read for all of us involved in agriculture is the current issue of “Choices,” published by the Agricultural and Applied Economics Association and can be found at http://www.choicesmagazine.org/choices-magazine.
  • Fourth Quarter 2013 Theme Articles: Theme Overview: Current Issues in Risk Management and U.S. Agricultural Policy. Risk management issues have taken a central focus in the current agricultural policy debate. This six-article Choices thematic issue focuses on current issues in risk management and agriculture policy and provides an assessment of important issues surrounding the ongoing farm bill negotiations. Continue reading
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The Management Calendar

Gordon Groover (groover@vt.edu), Extension Economist, Farm Management, Department of Agricultural and Applied Economics, Virginia Tech

Listed below are a few items that might be of interest to farm business managers:

  • A must read for all of us involved in agriculture is the current issue of “Choices,” published by the Agricultural and Applied Economics Association and can be found at http://www.choicesmagazine.org/choices-magazine.
    • Third Quarter 2013 Theme Articles: Theme Overview: Transitions in Agriculture. Shannon L. Ferrell. Recognizing the growing importance of farm transition issues, USDA’s Economic Research Service and Oklahoma State University organized a Transitions in Agriculture Conference held in March of 2013, bringing together experts from a number of fields to share their perspectives on transition issues and to start a new conversation on how to address them. Continue reading
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The Management Calendar

By Gordon Groover, Extension Economist, Farm Management, Department of Agricultural and Applied Economics, Virginia Tech

Listed below are the items that should be considered for inclusion on the farm business managers’ calendar for spring and summer of 2013: Continue reading

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