KFMA Podcast

KFMA Executive Director, Mark Dikeman, joins us to discuss the 2022 KFMA Executive Summary data and current farm conditions for 2023.

KFMA Executive Director Mark Dikeman joins us to discuss general details of two current FSA programs. These two programs, Emergency Relief Program 2 (ERP 2) and Pandemic Assistance Revenue Program (PARP), work differently than most FSA programs we have seen in the past. Mark explains the general premise of the two programs, eligibility requirements, application deadlines, and more.  This podcast i...

This episode finishes our transition planning series walking through the "Cultivating Your Farm's Future" workbook. In this final episode of the series, we go through the operating agreement worksheet. The goal of this worksheet is to think through and discuss how you want your farm entity to operate and have something you can take to your attorney when setting up the entity.  Thank you for tuning...

In episode 7 of our transition planning series, we continue our dive into action steps to help make a farm transition successful. This episode continues part 3 of the "Cultivating Your Farm's Future" workbook titled, "How do you get there?" We cover pages 47-49 of the workbook, discussing issue development, how to identify strategic vs. operational issues, and developing an action plan to face iss...

In episode 6 of our transition planning series, we dive into action steps to help make a farm transition successful. This episode leads into part 3 of the "Cultivating Your Farm's Future" workbook titled, "How do you get there?" We cover pages 44-46 of the workbook, discussing meeting agendas, operational meetings, and strategic planning meetings. https://farms.extension.wisc.edu/files/2022/08/Cul...

Episode 5 of our transition planning series continues in section 2 of the workbook "Cultivating Your Farm's Future" from the University of Wisconsin. In this episode, we focus on a worksheet evaluating, "Is Equal Fair?" and discuss control of farm management decisions. We also talk about performing a SWOT analysis for your farm family business and evaluating the "D" risks on  your farm. Make sure...

This episode continues our transition planning series, leading into part 2 of the "Cultivating Your Farm's Future" workbook from the Unviersity of Wisconsin- Madison Division of Extension. Part 2, "Where do you want to be?" helps farm families set goals for their transition. This episode specifically looks at various worksheets that help each generation identify their intentions for the transition...

This episode continues our transition planning series, working through the "Cultivating Your Farm's Future" workbook from the University of Wisconsin. In this episode, we discuss the different areas of decision making and some wonderful resources to communicate about transferring management to the next generation. This episode finishes out section one of the workbook titled, "Where are you now?" ...

In episode 2 of our Transition Planning Series, we look at organizing your financial information. We review the essential parts of a balance sheet, both farm and personal, and the farm income statement. In addition, we look at building a monthly/annual household spending plan.  As a reminder, this series is built around UW-Madison Division of Extension's "Cultivating Your Farm's Future" workbook. ...

We're kicking off our farm transition series! This series will walk through the topics in the "Cultivating Your Farm's Future" workbook, created by University of Wisconsin- Madison Division of Extension. We're very grateful for the use of this resource and hope you will find it beneficial. This first episode of the series will start in the first section of the workbook titled, "Where are you now?"...

Ashlee Westerhold joins me to discuss the upcoming Farm and Ranch Transition Conferences and to give us an update on the Office for Farm and Ranch Transition. The upcoming conferences are: Dec. 13th- Colby, KS Dec. 14th- Salina, KS Dec. 15th- Erie, KS For more information, check out the link below. Scholarships are available! If you are applying for a scholarship, do not register until you have fi...

KFMA members often ask us questions about 1031 (or like-kind) exchanges. There are lot of things to remember when completing a 1031 exchange to make sure you're not surprised by a large tax bill. In this episode we are joined by Clay Simons, KFMA South Central Executive Economist, to discuss the rules surrounding 1031 exchanges. 

There's been a lot of uncertainty in the economy over the last couple years. Many producers are concerned about the rising costs of inputs and interest rates. We sat down with Dr. Brian Briggeman, professor in the agricultural economics department at K-State, to discuss inflation, interest rates, and what businesses can do to be prepared. 

In September we covered various tax planning strategies for high income years. Dillon Rapp joins us again to discuss tax planning strategies for low income years. We cover ways to increase income or decrease expenses and why it is important to avoid net operating losses. 

Robin Reid joins us on the KFMA podcast to discuss recent trends in agricultural land values. Robin is an Extension Ag Economist with K-State and has spent much time devoted to research around agricultural land values, historical trends, and much more.  Associated Links: https://agmanager.info/land-leasing/land-buying-valuing/kansas-land-values-book-2021 https://agmanager.info/land-leasing/land-bu...

Dillon Rapp, KFMA Southeast Economist, shares with us some important tips and strategies to managing taxable income. Most tips discussed in this episode are geared toward planning in a high-income year. We'll be back later this fall with part 2, managing taxable income in low-income years. 

We welcomed KFMA South Central economist, Madelyn Lee, to explain what items should be brought to a tax estimate meeting. Our end of year tax estimate meetings are some of the most important and valued meetings we have with KFMA members. Madelyn explains the importance of having accurate information and records prepared for effective tax planning.

We sat down with Mark Dikeman, KFMA's new Executive Director, to discuss his goals for the direction and future of the association. 

Kevin Herbel, our Executive Director, is retiring from KFMA! It's hard to find another individual who has had such a great impact on our association. We sat down with him in this episode to hear about his experiences and time while working with KFMA. We are sad to see him go, but wish him the very best on his next endeavor. 

Mark Dikeman joins us for episode 18 to discuss current weather conditions across the state of KS and how they are affecting both livestock and crops. We also discuss some tax-related provisions surrounding weather-related crop and livestock issues and current FSA programs to assist farmers suffering from drought. 

What exactly is the role of a KFMA economist? What does our job look like and why have many of us chosen this profession? Bob Kohman and Trenton Hargrave join us for this episode to discuss what it's like to work as a KFMA economist, why they originally came here, and why they find it rewarding.  Current Openings: https://agmanager.info/kfma/job-descriptions

We're back with Jordan Steele for this episode to discuss cash flow and cash flow management. Jordan Steele was with KFMA for 7 years, with many of those years spent as the KFMA, NW Executive Economist. He just recently moved on to a new endeavor, so we were very grateful he sat down with us to share his thoughts on this important topic! 

We had the chance to sit down with Jordan Steele, executive economist for KFMA Northwest. Jordan reflects on his years with KFMA: lessons he learned, rewarding parts of his job, and general advice for producers.  Links: https://www.kansasagstress.org/ https://agstateofmind.com/  

KFMA Executive Director Kevin Herbel joins us in this episode to discuss the 2021 Executive Summary. You can access KFMA summary and enterprise reports at the following links: https://agmanager.info/kfma/whole-farm-analysis https://agmanager.info/kfma/kfma-enterprise-reports  

For this episode we welcome Ashlee Westerhold, the Director for the Office of Farm and Ranch Transition. This office was established within the Ag Econ Department at K-State thanks to a new grant. Listen in to hear about Ashlee and her background, how the office was established, and the goals and vision for how it will ultimately benefit Kansas farmers and ranchers!