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WHOLE FARM DECISIONS

| COSTS AND RETURNS | LEASING | LAND VALUES | FINANCIAL | LEGAL AND TAXES | BUSINESS TRANSFER | OTHER |

WHOLE FARM DECISIONS COSTS AND RETURNS

Record Summaries

Information Files

• Farm Costs and Returns -- C1-10
• Farm Business Summary - Northwest Iowa -- C1-11
• Farm Business Summary - Southwest Iowa -- C1-12
• Farm Business Summary - North Central Iowa -- C1-13
• Farm Business Summary - South Central Iowa -- C1-14
• Farm Business Summary - Northeast Iowa -- C1-15
• Farm Business Summary - Southeast Iowa -- C1-16
• Family Living Expenditures -- C1-20

Teaching Activities (doc)

• Costs and Returns -- C1-10

Budgeting and Analysis

Information Files

• Farm Analysis Terms - C1-05
• Suggested Closing Inventory Prices -- C1-40
• Using Financial and Production Records to Make Decisions -- C1-41
• Operating Leverage -- C1-45
• Partial Budgeting: A Tool to Analyze Farm Business Changes -- C1-50
• Dividing Business Income -- C1-51

Decision Tools (xls)

• Partial Budgeting -- C1-50

Profitability

Information Files

• Pricing for Profit -- C1-55

Newsletter Articles

• Managing finances with high grain prices -- May 2007
• Taking a long look at short energy supplies -- March 2001
• The farm situation: What lies ahead? -- May 2000
• The farm situation: Surviving tough times -- March 2000
• Iowa farmers concerned about increasing fuel prices -- March 2000
• The farm situation: Hunkering down syndrome -- January 2000
• Taking a second off-farm job -- October 1999
• Different concept for young farmer entry -- September 1999
• Managing the farm business during a period of rapid change --November 1998
• Maintaining profitability in the year ahead -- August 1998
• Farming with my neighbor -- February 1998
• Developing a risk management plan -- November 1997
• What is the best way to measure farm income -- February 1997

Labor

Information Files

• Survey of Wages and Benefits of Farm Employees -- C1-60
• Survey of Bonus Plans for Farm Employees -- C1-61

Newsletter Articles

• New survey on farm employee compensation -- July 2006

Teaching Activities (doc)

• Survey of Wages and Benefits of Farm Employees -- C1-60
• Survey of Bonus Plans for Farm Employees -- C1-61

WHOLE FARM DECISIONS LEASING

Rental Rate Surveys

Information Files

• Iowa Farmland Rental Rates (USDA) -- C2-09
• Farmland Cash Rental Rate Survey (Iowa State University) -- C2-10
• Historic County Cropland Rental Rates -- C2-11
• 2002 Building Rental and Contracting Rates -- C2-17
• Historic Building Rental and Contracting Rates -- C2-18

Newsletter Articles

• Cash rental rates jump in 2008 -- July 2008
• Grazing survey indicates which counties have highest, lowest rental rates per acre -- October 2007
• Cash rental rates jump in 2007 -- May 2007
• Cash rental rates continue to climb in 2005 -- June 2005
• Cash rent acres are increasing -- July 2003
• Modest gains for cash rental rates -- May 2003

Teaching Activities (doc)

• Cash Rental Rates -- C2-10

Leasing Forms

Information Files

• Iowa Farm Lease Form -- C2-12
• Iowa Cash Rent Farm Lease (Short Form) -- C2-16
• Midwest Plan Service Lease Forms

Lease Agreement

Information Files

• Do I Need a Written Lease – C2-03
• Leasing and Land Ownership Terms -- C2-05
• Lease Termination and Other Legal Considerations for Lease Contracts -- C2-06
• Lease Supplement for Obtaining Improvements on a Rented Farm -- C2-07
• Lease Supplement for Obtaining Conservation Practices & Controlling Soil Loss -- C2-08
• Iowa Farm Lease -- C2-12
• Designing a Farm Resume -- C2-13
• Developing a Farm Newsletter for Landlords -- C2-14
• Survey of Iowa Leasing Practices -- C2-15
• Leasing Arrangements and Self-employment (Social Security) Tax -- C2-41

Newsletter Articles

• 2009 flexible cash farm leases gain traction -- August 2008
• Custom fit your farm lease -- August 2007
• Farm leasing arrangements -- August 2005

Teaching Activities (doc)

• Leasing and Land Ownership Terms -- C2-05

Voiced Media Presentations

• Lease Termination and Other Legal Considerations for Lease Contracts -- C2-06
• Cash Rental Rates -- C2-10

Cash Leases

Information Files

• Computing a Cropland Cash Rental Rate -- C2-20
• Flexible Farm Lease Agreements -- C2-21
• Flexible Cash Rent Lease Examples -- C2-22
• Computing a Pasture Rental Rate -- C2-23
• Computing a Grain Storage Rental Rate -- C2-24
• Renting Extra Grain Storage -- C2-25
• Computing a Livestock Building Cash Rental Rate --C2-26
• Creating a Flexible Swine Building Rental Agreement -- C2-27

Newsletter Articles

• Flexible leases and USDA payments -- June 2007
• Flexible farm lease agreements -- February 2007
• How will cash rents respond to higher prices? -- February 2007
• Risk management: What does it really mean? -- October 2005
• Comparing cash rental rates to net returns to land -- April 2000

Decision Tools (xls)

• Cash Rental Rate Estimation -- C2-20
• Flexible Lease Agreement Worksheet -- C2-21
• Computing a Grain Storage Rental Rate -- C2-24
• Computing a Livestock Building Cash Rental Rate -- C2-26

Voiced Media Presentations

• Computing a Cropland Cash Rental Rate -- C2-20
• Flexible Farm Lease Agreements - C2-21

Share Leases

Information Files

• Crop-Share Leasing Provisions -- C2-30
• Adapting Crop Share Agreements for Sustainable and Organic Agriculture -- C2-31
• Fixed Bushel Rent -- C2-32
• Considering Sustainable Agriculture on Your Rented Land -- C2-33
• Beef Cow Joint Agreements -- C2-36

Newsletter Articles

• Beef cow sharing agreements -- May 2005

Decision Tools (xls)

• Beef Cow Share Agreement Analysis -- C2-36

Teaching Activities (doc)

• Crop-Share Lease Provisions -- C2-30

WHOLE FARM DECISIONS LAND VALUES

Surveys

Information Files

• Farmland Value Survey (Iowa State University) -- C2-70
• Historic Farmland Values -- C2-72
• Farmland Value Survey (Realtors Land Institute) -- C2-75

Other Surveys

• Federal Reserve Bank of Chicago
• USDA Agricultural Land Values and Cash Rent

Newsletter Articles

• Average value of Iowa farmland tops $3,900 an acre in 2007 survey -- January 2008
• Iowa farmland value at record level for fourth year in a row -- January 2007
• Comparing the stock market and Iowa land values: A question of timing -- June 2005
• Trends in Iowa farmland ownership -- October 2004

Decision Tools (xls)

• Farmland Purchase Analysis -- C2-70

Investment Analysis

Newsletter Articles

• Returns to farmland ownership -- October 2006
• What will happen to the value of farmland over the next several years? -- July 2005
• Rising farmland values: Some implications for rural America -- July 2003

Information Files

• The Do's and Don't's of Sealed Bid Auctions -- C2-81

WHOLE FARM DECISIONS FINANCIAL

Statements

Information Files

• Financial Terms -- C3-05
• Transportation Terms -- C3-06
• Understanding Cash Flow Analysis -- C3-14
• Twelve Steps to Cash Flow Budgeting -- C3-15
• Understanding Net Worth -- C3-19
• Your Net Worth Statement - C3-20
• Understanding Profitability -- C3-24
• Your Farm Income Statement -- C3-25

Decision Tools (xls)

• Cash Flow Statement (short form) -- C3-14
• Cash Flow Budget (short form - 6 periods) -- C3-14
• Cash Flow Budget (short form - 12 periods) -- C3-14
• Cash Flow Statement (long form) -- C3-15
• Cash Flow Budget -Multiple Crops -- C3-15
• Net Worth Statement (short form) -- C3-19
• Net Worth Statement -- C3-20, C3-25, C3-55
• Analyzing a Net Worth Statement -- C3-20
• Income Statement (short form) -- C3-24
• Farm Income Statement -- C3-25
• Accrual Net Farm Income Worksheet -- C3-25
• Analyzing an Income Statement -- C3-25
• Financial Performance Measures for Iowa Farms -- C3-55
• Farm Financial Statements -- C3-56
• Complete Financial Statements -- C3-20, C3-25, C3-66

Analysis

Information Files

• Managing Farm Family Finances -- C3-51
• Financial Troubleshooting -- C3-53
• Financial Performance Measures -- C3-55
• Interpreting Financial Performance Measure -- C3-56
• Building Equity in Your Farm -- C3-60

Newsletter Articles

• Farm financial planning program -- September 2006

Decision Tools (xls)

• Financial Performance Measures -- C3-55

Industry Analysis

Newsletter Articles

• A panel study of Iowa farm financial conditions: 2000-2007 -- May 2008
• Farm family financial situation -- December 2003
• Changes in farm financial performance and structure between 1997 and 2002 -- January 2003
• Changes in Iowa farm financial performance and structure (1997–2001) -- November 2001
• Current and projected farm financial conditions -- February 2000
• Agricultural lender survey -- April 1999
• Understanding the current farm economic situation -- September 1999
• Farm economy -- Looking at the numbers -- July 1999
• Survivability and competitiveness of Iowa's commercial farm businesses -- April 1999
• Negotiating with creditors -- February 1999

WHOLE FARM DECISIONS LEGAL AND TAXES

Taxes

Information Files

• Income Tax Aspects of Property Transfers -- C4-20
• Gift Tax -- C4-23
• Federal Estate Tax -- C4-24
• Iowa Inheritance Tax -- C4-25
• The Debate over Repeal of the Federal Estate Tax: The Income Tax Basis Issue -- C4-26
• Weather-Related Sales of Livestock -- C4-28
• Iowa Beginning Farmer Tax Credit Act -- C4-30

Newsletter Articles

• Self-employment tax for spouses receiving farm program payments? -- March 2008
• Deferring crop sales to reduce income tax liability -- November 2007
• No “basis shifting” in related party like-kind exchange -- April 2007
• IRS notice on SE tax on CRP Payments -- February 2007
• Further guidance on where real property interests constitute an interest in a closely-held business for purposes of I.R.C. § 6166 -- October 2006
• Fixing values at death for federal estate tax purposes -- July 2006
• What’s ahead for federal gift tax? -- June 2006
• Self-employment tax on contract production “rents”-- April 2006
• Selected provisions of the Gulf Opportunity Zone Act of 2005 -- February 2006
• “Cashing out” with related party exchanges -- February 2006
• The debate over repeal of the Federal Estate Tax: The income tax basis issue -- September 2005
• Recapture in like-kind exchanges -- August 2005
• LLCs and passive activity losses -- May 2005
• Reporting income under ledger contracts -- September 2004
• Is “residual fertilizer supply” in farmland deductible? -- July 2004
• Meals and lodging: Not deductible for non-employees -- May 2004
• New fifty percent special depreciation allowance -- April 2004
• Internal Revenue Code §179 expensing -- March 2004
• Hedging or speculation: Watch who does the hedging -- February 2004
• Repair or capitalize expenditures? -- January 2004
• Depreciation on listed property vehicles -- January 2004
• Federal estate taxation of farm and ranch estates -- November 2003
• Cash Renting After Death: A Problem for Installment Payment of Federal Estate Tax? -- August 2003
• Developments in CRP Payment Reporting -- July 2003
• Jobs and Growth Tax Relief Reconciliation Act of 2003 -- June 2003
• Self-Employment Tax on Rented Land If Some Land Is Not Rented -- April 2003
• When Are Livestock Exchanges “Like-Kind”? -- March 2003
• Tax Planning and Management Considerations for Farmers in 2002 -- December 2002
• Changing CCC Loan Reporting -- April 2002
• Final Regulations on Income Averaging for Farmers -- February 2002
• Handling Gains and Losses on Cooperative Stock -- February 2002
• Applying the New Capital Gains Rules -- January 2002
• Care Needed to Assure Hedging Result -- September 2001
• Debt in Excess of Basis -- August 2001
• Repeal of Federal Estate Tax: A Good Idea or a Mistake? -- April 2001
• More on Mizell -- February 2001
• Tax issues facing farm families -- February 1999
• Reporting Fovernment Payments for Tax Purposes -- December 1998
• Omnibus Spending Bill -- December 1998
• Iowa State Income Tax Treatment of Long-term Capital Gains Income --H.F. 2513 -- August 1998
• Capital Gains Proposals -- June 1997
• Federal Estate and Gift Tax Reform -- May 1997
• Deferring Taxable Income -- How Important? -- December 1996

Contracts

Information Files

• Twelve Basic Rules of Contracting -- C4-60

Newsletter Articles

• When a contract obligor becomes an owner of the contract -- February 2003
• Production contracts and liens -- June 1999

Teaching Activities (doc)

• Twelve Basic Rules of Contracting -- C4-60

Legal Issues

Information Files

• Legal Terms -- C4-05
• Business Arrangements -- C4-40

Newsletter Articles

• Top ten agricultural law developments of 2006 -- January 2007
• U.S. Supreme Court muddies the waters on isolated wetlands -- August 2006
• New Medicaid rules will impact estate planning for long-term health care - May 2006
• The Kelo case and eminent domain -- setting the record straight and a proposal for reform -- November 2005
• Major developments in Chapter 12 bankruptcy -- October 2005
• Supreme Court rules that beef check-off is government speech; but check-off litigation may not be over -- July 2005
• Top ten agricultural law developments in 2004 (last in a series) -- April 2005
• Top ten agricultural law developments in 2004 (second in a series) -- March 2005
• Top ten agricultural law developments in 2004 (first in a series) -- February 2005
• Developments in GMO patent infringement cases -- July 2004
• Disposition of installment obligations -- June 2004
• To repeal or not repeal the rule against perpetuities -- September 2003
• Purchasing QFOBI Assets from the Estate -- March 2003
• Handling joint tenancies at death -- January 2002
• Calculating solvency: A new development -- August 2001
• Repealing the rule against perpetuities -- August 2000
• Mediation in Iowa -- Under Chapters 654A, B, & C -- October 1998
• Confinement livestock legislation -- July 1998
• Farmer networking law -- Chapter 10 of the Iowa Code -- July 1998
• Networking entities -- May 1998
• Goodell et al. V. Humboldt County -- March 1998

WHOLE FARM DECISIONS BUSINESS TRANSFER

Getting Started

Information Files

• Understanding Farm Business Transfers -- C4-10
• Planning your Future Togehter -- C4-11
• Critical Success Factors for Business Transfers -- C4-12
• The Farm Business Transfer Process -- C4-13
• Transferring Business Ownership -- C4-14
• Transferring Business Management -- C4-15
• Dividing Business Income -- C4-16
• Constructing a Succession Plan -- C4-17

Decision Tools (xls)

• Dividing Business Income -- C4-16

Teaching Activities (doc)

• Dividing Income -- C4-16

Business Arrangements

Information Files

• Examining Your Farm Business Choices -- C4-41
• Wage and Incentive Agreement -- C4-42
• Enterprise Operating Agreement -- C4-43
• Farm Business Operating Agreement -- C4-44
• Labor and Machinery Sharing Agreement -- C4-45
• Partnership -- C4-46
• Corporation -- C4-47

Making it Work

Information Files

• Developing Good Family Business Relations -- C4-70
• Improving Business Communications -- C4-71
• Making Family Business Decisions -- C4-72
• Designing Business Teams -- C4-73
• Resolving Family and Business Conflicts -- C4-74
• Developing Capable Business Managers -- C4-75
• Keys to Successful Business Transfers -- C4-76
• Are You Transferring Management? -- C4-77

Transferring Machinery and Livestock

Information Files

• Transferring Business Ownership -- C4-80
• Income Tax Considerations of Business Transfers -- C4-81
• Transferring Breeding Livestock -- C4-83
• Transferring Crops and Market Livestock -- C4-84
• Transferring Ownership of Farm Machinery -- A3-32

WHOLE FARM DECISIONS BUSINESS OTHER

Industry Analysis

Newsletter Articles

• Farm policy amid high prices: Which direction will we take? -- December 2006
• Rural America's emerging knowledge economy -- August 2005
• Farmers tend to respond similarly, the world around -- June 2005
• Will there be enough corn: Implications for related industries -- September 2004
• Globalization forces rural America to blaze a new trail -- March 2004
• Is there a future for legislative involvement in shaping the structure of agriculture? -- October 2003
• Are cost-increasing production practices in agriculture’s future? -- October 2002
• Are exports a dependable base for farm prosperity? -- August 2002
• Will the New Farm Bill Raise Cash Rents? -- July 2002
• The next farm bill: Is it time for conservation payments? -- August 2001
• U.S. Farm policy and the WTO -- June 2001
• Why worry about changing structure -- September 2000
• Farmers not optimistic about economic outlook -- July 2000
• Contracting with near monopolists -- January 1999
• The future direction of agriculture -- December 1997
• Changes in Iowa farm structure -- October 1997

Strategic Planning

Information Files

• Strategic Management Concepts -- C6-39
• Glossary of Strategic Planning Terms -- C6-40
• Strategic Management for Farm Businesses -- C6-41
• Setting Personal, Family and Business Goals for Business Success -- C6-42
• What is Important to Me? -- C6-43
• External Scanning - Industry Analysis -- C6-44
• Internal Scanning -- C6-45
• Farm Business Strategies -- C6-46
• Growth Strategies by Type of Farm -- C6-47
• Portfolio Analysis and Enterprise Strategy Development -- C6-48
• New Ways of Thinking About Your Farm Business -- C6-49

Human Relationships

Information Files

• Techniques for dealing with difficult people -- C6-50
• Helping others copes with stress -- C6-51
• Tough times can be tough on marriages -- C6-52
• Care of the family during adverse times on the farm -- C6-53
• Managing farm and family stress -- C6-54
• Using Group Conflict to Improve Your Project -- C6-55
• Good Communications Can Help Solve Problems -- C6-56

International Agriculture

Newsletter Articles

• Proposed farm policy changes in the U.S. vs. Brazil and Canada: Ships passing in the night -- July 2006
• Acreage devoted to export production shrinks over last 25 years -- February 2005
• Roar of the dragon: The Asian upside for U.S. agriculture commentary on the rural economy -- November/December 2004
• Iowa and Mexico: The corn connection -- November/December 2004
• Is China about to drop out of the corn export market? -- October 2004
• China: Will they or won’t they? -- August 2004
• Lessons from Australian agriculture -- February 2004
• World Bank study: Trade liberalization would shut down two-thirds of EU’s grain and oilseed production -- January 2004
• World Bank study: China becomes dependent on imports to feed its population. Really? -- December 2003
• Income-rich Saudi Arabia Prefers Grow-Their-Own Food Security -- March 2003
• Brazil and Iowa soybean production -- A cost comparison -- December 2001
• Brazil’s soybean production -- Production inputs -- October 2001
• Brazil’s soybean production -- September 2001
• Brazilian soybeans -- Can Iowa farmers compete? - December 2000
• Future directions of China's agricultural production - December 2000
• Brazilian soybeans -- Transportation problems -- November 2000
• Future directions for China's food demand -- November 2000
• Brazilian soybeans -- What is the potential? -- October 2000
• Pacific Rim and Iowa agriculture -- March 1998

Skill Development

Information Files

• Assessing Entrepreneurial Skills -- C6-60
• Assessing Strategic Management Skills -- C6-61
• Assessing Personnel Management Skills -- C6-62
• Assessing Inter-Personal Skills -- C6-63
• Assessing Organizational and Planning Skills -- C6-64
• Assessing Financial and Risk Management Skills -- C6-65
• What is your Managerial Attitude? -- C6-66

Newsletter Articles

• Ag Decision Maker Teaching Activities: An educational tool for classroom instruction -- September 2008
• Issues in agriculture - summer programs for 2007 -- July 2007
• Winter farm management programs -- December 2005
• Risk management: What does it really mean? -- October 2005

Weights and Measurements

Information Files

• Metric Conversions -- C6-80
• Test Weights and Conversions -- C6-82
• Agricultural Measurements and Conversions -- C6-84
• Energy Measurements and Conversions -- C6-86

Decision Tools (xls)

• Metric Conversions -- C6-80
• Storage Capacity -- C6-84

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