News about taxes
With historically strong beef prices driving profitability for many ranchers in 2025, now may be the ideal time to reinvest in their operations by enhancing feed grain, hay and pasture production by adding center pivot irrigation.
With lower grain prices, higher interest rates and increased production costs, some farms are facing a challenging financial situation.
President Donald Trump announced that he was scrapping U.S. tariffs on beef, coffee, tropical fruits and a broad swath of other commodities — a dramatic move that comes amid mounting pressure on his administration to better combat high consumer prices.
Illinois Soybean Association is excited to celebrate outstanding individuals in agriculture through its annual Achievement Awards.
Farmers have options they can implement prior to the end of the year to impact the amount of taxes they will owe for 2025.
Farmers can deduct the residual fertility value on newly purchased or inherited land. A soil analysis and records of past treatments are needed to claim the deduction.
While farm equity slipped this year, it remains relatively stable due to large “contemporary,” or same-year, federal payments. Overall, however, farmers remain under threat in 2026.
The past few years have tested even the most seasoned farmers. Facing rising input costs, unpredictable market access and many other challenges, farmers and ranchers are working harder while margins grow thinner.
Did farm and ranch leaders forget the enormous impact SNAP spending has on rural America’s bottom line?
Having a well-written farm lease is vital in today’s farm rental marketplace.
President Donald Trump is giving domestic automakers additional relief from tariffs on auto parts, extending what was supposed to have been a short-term rebate until 2030.
General Motors anticipates a smaller impact from tariffs and is boosting its full-year adjusted earnings forecast as its third-quarter performance topped Wall Street’s expectations.
Once harvest is complete on Mindy Orschell’s farm, the family doesn’t slow down. They take a deep breath, then jump back in.
Indiana Farm Bureau announced its policy priorities for the 2026 legislative session, with a focus on protecting farms.
After college, Marcus Maier got a full-time job, but he still had the notion of joining the Army in the back of his mind.
Paradox seems to be the guiding principle of today’s food policies.
One of the oldest sayings in poker warns that if you’re in a game for 20 minutes and haven’t figured out who’s the patsy — the player most likely to be the game’s biggest loser — you’re the patsy.
Farm income concerns along with state and federal issues continue to be a focus of Illinois Farm Bureau.
Since an early April low, live cattle prices took an upward turn that continued through September, but there are other concerns the industry is facing.
Sustainea is investing $400 million to establish its first Bio-MEG monoethylene glycol industrial plant in Lafayette.
U.S. Treasury Secretary Scott Bessent announced the United States will offer financial support to Argentina to prop up its ailing economy, prompting frustration from soybean producers.
The Illinois Pork Producers Association announced a new livestock apprenticeship program that has recently been registered with the U.S. Department of Labor with the help of the Illinois Department of Commerce and Economic Opportunity.
Renewable energy projects, taxes, property rights and other issues will be policy priorities for Indiana Farm Bureau, as determined by the annual delegate session.
Around 250 Indiana farmers and ag professionals attended the first Critical Issues Summit hosted by Indiana Farm Bureau.
Even though the White House remains up while farmers are decidedly down, some farm groups are starting to recognize that down isn’t up anymore.
Hyundai Motor Group confirmed it is going forward with previously announced plans to expand its Georgia plant, just weeks after an immigration raid delayed the startup of an electric vehicle battery plant at the site.
It seems like a terrible time to build an electric vehicle plant in the United States, but Rivian Automotive leaders say they’re confident as the company starts long-delayed work on a $5 billion facility in Georgia.
With low commodity prices, high input costs, weather, taxes, personnel and other concerns, farmers and ranchers face a myriad of stresses in their lives — and free resources are available to help get through those tough times.
Sending the nation’s dwindling number of farmers ever-bigger federal checks isn’t a solution. It is, in fact, an admission of failure.
After years of rising input costs and volatile markets, Illinois farmers finally have updated farm policy that reflects their needs in the “One Big Beautiful Bill,” landmark legislation that delivers real, meaningful wins for Illinois farmers.
Farmland owners looking for guidance on renewable energy projects can get assistance from the newly formed national association, Renewable Energy Farmers of America.
Around 160 people attended the annual Indiana Ag Policy Summit, hosted by the Indiana Soybean Alliance’s Membership and Policy Committee and the Indiana Corn Growers Association.
The Environmental Protection Agency’s plan to relax rules aimed at cleaning up auto tailpipe emissions is the latest Trump administration move to undo incentives for automakers to go electric.
Jim Henry explains what the changes to the sustainable fuel tax credit mean for farmers.
Budget reconciliation legislation that includes farm safety net enhancements, higher reference prices and biofuel tax credits was approved by Congress and signed into law by President Donald Trump.
Identifying their business goal will help cattlemen determine where to allocate dollars in their operation.
With data from the recent survey-based acreage and grain stocks reports, the U.S. Department of Agriculture lowered new corn and soybean production estimates in its supply and demand estimates report.
Millions of people receive a federal tax deduction for the interest they pay on home loans. Under President Donald Trump’s new tax-cut law, many people for the first time also could claim a tax deduction for interest on their vehicle loans.
Lost in the breathless reporting on the huge federal budget cuts and even more massive federal tax cuts just passed by the heel-clicking Congress was a report on just how rich America’s mega-rich now are.
Farmers truly share a bond, no matter where we live or what we grow and raise.
Farming is an uncertain business. Farmers and ranchers received some certainty, however, with the passage of the “One Big Beautiful Bill Act.”
Shares of General Motors rose before the opening bell after announcing plans to invest $4 billion to shift some production from Mexico to U.S. manufacturing plants as the automaker navigates tariffs that could drive prices higher.
Agriculture leaders voiced support for the massive spending and tax package bill that includes significant new farm program funding.
Beneath the red, white and blue fanfare lays a story that’s just as rooted in the soil as it is in our history books — because when America declared independence, it was farmers who helped make that freedom possible.
It was a mixed bag of victories and losses for locally produced food and conservationist efforts when the Illinois General Assembly passed its $55.2 billion fiscal year 2026 budget.
The Illinois General Assembly adjourned without taking any action on three bills that would impact townships, including potential consolidations.
For U.S. farmers and ranchers, May 22 was right out of a Dickens novel: It was the best of days and the worst of days.
In February 2018, this space outlined my assessment of Congress’s meandering approach to the overdue farm bill. It was a waste of ink.
These days, it seems we’re hearing more and more talk about “big ag.”
Understanding Illinois property tax calculations is complex and confusing. Properties such as personal residences are taxed based on fair market value.