Items: Management & Finance
Average KFBM Net Farm Income Dips Negative for the First Time in Decades
By Kayla Brashears | KFBM Area Extension Specialist
Published on Jul. 30, 2025
For the first time since the 1980s, the average Net Farm Income (NFI) among Kentucky Farm Business Management (KFBM) cooperators has fallen below zero, closing the production year at an average of ($20,522). This dramatic shift is a sharp reversal from the record high NFI in 2021 of $871,325.
Taxation of Timber Sales After a Casualty Event: A High-Level (Canopy) Discussion
By Jonathan Shepherd | Extension Specialist
Published on Jun. 30, 2025
Kentucky has faced several natural disasters already in 2025, and for many timberland owners, it is a question of where to start regarding salvaging and selling timber. Trying to understand the tax implications of timber damaged or lost due to storms can feel as overwhelming as the tangled mess left behind by a tornado.
Know Your Ratios
By Kara Schlinke | KFBM Extension Associate Senior
Published on Jun. 30, 2025
Farming is more than planting, growing, and harvesting—it’s running a business. And like any business, understanding your financial health is crucial for long-term success. That’s where financial ratios come in. Think of them as vital signs for your farm’s finances.
Crop Budgeting is Vital in our Current Farm Environment
By Jennifer Rogers | KFBM Area Extension Specialist
Published on May. 30, 2025
There have been many conversations this spring surrounding crop projections and budgets. With the fear of instability in the crop markets due to foreign trade policy and the continued high costs of inputs, the profit margin for most row crop enterprises seem tight. These tight margins have emphasized the importance of projecting reve
Historical Review of “Government” Payments to Kentucky Farmers
By Will Snell | Extension Professor
Published on May. 30, 2025
Currently, there are a plethora of policy actions being discussed in our nation’s capital affecting agriculture, ranging from the farm bill debate to tax policy modifications, and of course, the on-going trade policy developments.
Into the Woods: The Tax Uncertainty of Carbon Contracts
By Jonathan Shepherd | Extension Specialist and Jordan Shockley | Associate Extension Professor
Published on Apr. 30, 2025
As woodland landowners look for income diversification opportunities, they may explore the potential of carbon sequestration as a revenue stream, particularly the potential income from woodland carbon programs. The federal income tax implications of this type of income are still not fully addressed in current tax law.
KFBM Spring 2025 Observations
Published on Apr. 30, 2025
The Kentucky Farm Business Management Program is a program of the Department of Agricultural Economics at the University of Kentucky.
Oh BOI! Big Changes to Reporting Requirements under the Corporate Transparency Act
By Jonathan Shepherd | Extension Specialist
Published on Mar. 31, 2025
The Corporate Transparency Act (CTA) was passed into law in January 2021 but didn't take effect until January 2024.
Maximizing Value: 2025 Spring Application of Broiler Litter for Grain Crop Production
By Jordan Shockley | Associate Extension Professor
Published on Mar. 31, 2025
Spring is here and grain producers across the state are gearing up for planting. One of the many decisions producers have to make before planting is in regard to their nutrient management plan. Broiler litter provides a great opportunity as a complete fertilizer and is being produced and used throughout the state in grain production.
2024 Tax Deadlines for Kentucky Extended
By Jerry Pierce | KFBM Program Coordinator and Jonathan Shepherd | Extension Specialist
Published on Mar. 31, 2025
The deadline for filing many current Federal tax returns has been extended to November 3, 2025, for individuals and businesses in Kentucky. This comes as a result of a Federally declared disaster for the entire state.
