(800) 234-1111

Challenges with CCC loans reported as income

Tax preparers are not consistent in reporting repayment of CCC loans that have previously been reported as income for tax purposes. FINPACK tries to adjust for these inconsistencies but adjustments are not always possible. While these problems cause cash...

Determining Schedule F Income in FINPACK

FINPACK uses IRS Schedule F data in two analysis tools – the Schedule F type Tax Form and the Schedule F Cash to Accrual tool. Several items on the Schedule F tax form have both total and taxable entries. Because of this, questions arise about which Schedule F...

Minnesota Farm Income Hits Historic Low

After adjusting for inflation, Minnesota farms earned the lowest median farm income in the past 23 years of data tracked by University of Minnesota Extension and Agricultural Centers of Excellence within Minnesota State.   In 2018, the reported median net income was...

Farm Incomes Take Another Dip in 2017

Minnesota farmers experienced their fifth consecutive year of low profitability in 2017. The median farm earned $28,551, down slightly from just over $36,000 in 2016.  Declines in farm income were largely driven by low profits and losses for cash crop farms,...