KFMA Podcast

Depreciation is one of the topics on which we receive several questions each year. There are a lot of rules regarding depreciation for tax purposes, but it's also one of the most valuable tax planning tools farmers have available. In this episode, we discuss the basics of depreciation, different rules to be aware of, and how it can be an effective tool for farmers and ranchers.

We hear a lot about cash accounting and accrual accounting, but it can be challenging to know the difference between the two and how they are both used. Kellen Liebsch, Associate Director for KFMA, sits down to talk about the two accounting methods, how they can be utilized, and the pros and cons of each method.

The 20th annual Women Managing the Farm Conference is almost here! We sat down with the committee co-chairs, Sandra Wick and Lori Rogge, to discuss the upcoming conference. We also discussed the history of Women Managing the Farm, the overall goal and vision of the conference, and what to look forward to in the future.

Conference Website: http://womenmanagingthefarm.com/

AgManager: https://agmanager.info/

Dr. Brian Briggeman joined us to discuss farmer cooperatives across the state of Kansas. Dr. Briggeman is a professor and the Director of the Arthur Capper Cooperative Center at K-State. We discussed the history and the current state of co-ops in Kansas. Dr. Briggeman also filled us in on all the services provided for co-ops through the Arthur Capper Cooperative Center.

We sat down with Bob Kohman to discuss a recent KFMA study over machinery and repair costs. Bob and Chelsea conducted this study over the summer with the primary goal of observing the relationship between machinery investment and repair costs on KFMA farms. The data and observations were presented at the annual Risk & Profit Conference at K-State in August.

In this episode, we are joined by Kay Prather, the program coordinator for the Kansas Agricultural Mediation Services (KAMS). Kay shares with us the background, purpose, and mission of KAMS.

Resources:

KAMS Website: https://www.k-state.edu/kams/about/

KAMS Toll Free Hotline: 1-800-321-3276

Kansas Ag Stress: https://www.kansasagstress.org/

Robin Reid joins us back on the KFMA podcast to discuss trends in Kansas ag land values. We also took time to talk about her latest research on agricultural land ownership in Kansas. Make sure to follow the links below for resources discussed in the podcast.

2022 Land Values Book: https://www.agmanager.info/land-leasing/land-buying-valuing/kansas-land-values-book-2022

Analysis of Agricultural Land Ownership:https://www.agmanager.info/land-leasing/land-buying-valuing/analysis-agricultural-land-ownership-kansas

Foreign Holdings of Kansas Land: https://www.agmanager.info/foreign-holdings-kansas-ag-land-0

Dr. Jenny Ifft joins us again on the KFMA podcast to discuss a new research project. This study looks at agricultrual land turnover in the state of Kansas. During this episode, Dr. Ifft discusses the current findings and preliminary observations.

Dr. Jennifer Ifft, associate professor and Flinchbaugh Agricultural Policy Chair at K-State, joins us to discuss insurance and FSA program options for livestock producers.

More on Dr. Ifft: https://www.agmanager.info/contributors/ifft

Dr. Brian Briggeman, professor in the Agricultural Economics Department at K-State and Director of the Arthur Capper Cooperative Center, joins us again to provide a macroeconomic update. We discussed trends with interest rates and inflation through 2023, potential for a recession, the state of the labor market, and how all of this relates back to agriculture.