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2019 FINPACK Annual Update

The 2019 FINPACK annual update is here.  Each year there are enhancements and updates to the FINPACK software.  In 2019, you’ll notice there are some important updates and new features to take note of.  Let’s take a look at What’s New. Legacy...

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,...

Why Do Accrual Adjustments Matter?

Cash is king! Every business needs cash to meet its financial obligations. But how much cash a farm generates is not a very good indicator of how the business is performing.  One of the main reasons is cash basis taxation. The right to file taxes based on cash...