Two years ago, I wrote a column about the “smorgasbord of options” for farmland transition. That column compared the smorgasbord in my childhood at Dickey’s Prairie Home restaurant in Packwood, Iowa, to the options in land transition.
If the past year was an indication of years to come, we need to buckle our seat belts and hold on tight.
As the end of the year approaches, we close the books on another production year. There are many lessons to be had this year, but none of them greater than “Cash Flow is King.”
As soon as harvest is complete, farm families will turn their attention to the holidays and year-end tax planning. As sure as Thanksgiving dinner or family Christmas, farmers will engage in the annual scramble to reduce the year’s income-tax liability.
One of the mentors I was lucky to associate with early in my career was my first business trainer. I constantly bombarded him with questions. One day, after I had asked what he said was 100 questions, he refused to answer me.
The legendary game show host Bob Barker died this past week at age 99. Barker was famous for the game show The Price Is Right. It is the highest-rated daytime program and the longest-running game show in TV history.
It finally happened. One ticket sold in Florida has won the estimated $1.58 billion Mega Millions jackpot.
My mom loves to put together puzzles. She has a table in the living room that usually has a puzzle in progress. She has a specific process on how to put them together.
Writing this column has been absolute joy for me. The unbelievably warm reception that folks have is a testament to the type of people we have in agriculture. My hope is that we never take this for granted.
The problem with land transition in the current marketplace is the amount of subsidization required for land purchases and the limited number of individuals who have the means to purchase the land at market value.
Mitigating issues before they become conflict is an important step in keeping land in your family. The instance of conflict has risen at an increasing rate in the last few years.
We have found through trial and error over 30 years that there are three fundamental areas of concern in an estate and farm transition plan that each family should independently address — cost of administration, creditor protection and transition plans for land and operating assets.
In 1992, I had the good fortune to meet my business mentor at my very first college interview. He told me 10 years in the future, I would be the same person that I was that day with the exception of the books I read and the people I would align with.
Our music teacher in elementary was wired differently than most. Her name was Mrs. Frakes and she had more energy than the entire class combined.
Since 4-H began more than 100 years ago, it has become the nation’s largest youth development organization. The 4-H pledge is simple yet effective:
Harvest is over at Bohr Farms. The last of our harvested corn this year was stored in a 45-bushel tote and shipped to a company in western Iowa that makes whiskey from local-grown corn.
We often joke about our “job titles” on the farm. In the fall, my title is Director of Logistics, which translates into semi driver and grain cart operator. In the spring, my job is Manager of Seed Deposition (planter operator).
Now more than ever, there is strong demand for a transition plan that can meet a family’s definition of a “fair” plan for land transition yet is flexible enough to change with the planning environment.
Stop! Please stop with the public land auctions. This may not be a popular statement in certain circles, and I will probably take some heat from my auctioneer friends, but someone needs to say it.
One of the great symbols of our country’s independence is the long-standing tradition of fireworks. This year, we were downtown in Cedar Rapids, Iowa, watching the massive display of fireworks that closes out the city’s Freedom Festival.
After enjoying lunch together, Tim’s wife asked him to get something out of the attic. She was looking for a small box of porcelain figurines saved from her great-grandmother.
It was exciting to put our kindergarten son on the school bus for the first time.
For as long as I can remember, my dad has told the story about the divine sign giving him direction when he was young.
Each time I drive over a bridge, it reminds me of something one of my business mentors used to say: “How fast would you drive on a bridge if there were no guardrails?”
One of my favorite memories growing up was going to eat as a family for Mother’s Day. My uncle, aunt and two cousins joined my mom, dad and four sisters with my Grandma Bohr and headed to Dickey’s Prairie Home restaurant in Packwood, Iowa, to celebrate our mothers.