Manitoba’s Keystone Agricultural Producers has joined other farm groups in calling on the federal government to keep a regulation that allows farmers to defer grain sales into the following year for tax purposes. The government announced in its recent budget that it is considering eliminating grain ticket deferrals because it is a left over from […] Read more
Keystone Agricultural Producers defends cash ticket deferrals
Alberta Wheat fighting to keep tax deferral
Ottawa is missing the point when it says grain farmers shouldn’t get a special tax break, says Alberta Wheat chair Kevin Auch
Reading Time: 3 minutes A tax break for grain farmers that Ottawa is considering taking away is deserved and benefits the entire grain sector, says the chair of the Alberta Wheat Commission. “I guess we are asking for special tax treatment but it’s because of our special circumstances,” said Kevin Auch. Following its recent budget, the federal government said […] Read more
Caterpillar says compliant with tax laws after IRS claim
Reuters — Caterpillar Inc. said Friday it was compliant with tax laws, a week after federal law enforcement officials raided three of the company’s buildings in connection with a probe into the heavy machinery manufacturer’s offshore tax practices. The Internal Revenue Service (IRS) has challenged the company’s taxes for the years 2007-2012, the company said […] Read more
That work you hate pays very well
If you’re still running the farm on a cash basis, you’re tying one hand behind your back
Reading Time: 2 minutes Nearly three decades ago, a study of farmers’ work priorities found — to no one’s surprise — that record-keeping ranked well behind field work; buying and selling machinery and crops; and equipment repair. Only 16 per cent hired outside help for record-keeping, 50 per cent did it themselves and 20 per cent named their spouse […] Read more
Year-end values have a big impact on inventory
Breeding stock can have an especially big effect on the value of inventory
Reading Time: < 1 minute When it comes to doing an accrual, an Alberta Agriculture and Rural Development specialist says it’s important to remember that a change in value for an inventory item can have a dramatic effect in calculating the accrual adjustments. As an example, if you had 500 cows with a value of $2,000 each on Dec. 31, […] Read more