Crop insurance seminar to be held
PRINCETON — The Bureau County Farm Bureau will host a crop insurance seminar in Princeton at the Bureau County Farm Bureau at 7 p.m. Nov. 13. Light refreshments will be served.
The first featured speaker for the evening will be John P. Gorman, CPA, CFE partner with CliftonLarsonAllen LLP. Gorman has more than 30 years of experience specializing in auditing, accounting and tax services for agribusiness entities. He will highlight the tax consequences of 2012 crop insurance payments (claims). He will also discuss when crop insurance payments are taxable; if crop insurance payments deferrable to 2013, should crop insurance payments be deferred until 2013; and planning when 2012 crop insurance payments will be taxable to achieve the taxable income desired for 2012 and 2013.
The second speaker for the evening will be Alan Davis, Country crop specialist with Country Financial Crop Insurance. He will review the 2012 options and changes, introduce Trend Yield Adjustment and highlight 2013 information. He will also highlight Growers Edge, a free online tool for farmers sponsored by Country Financial. This tool allows producers to see best delivery option at anytime based on best pricing of their grain, and tracks profitability, USDA reports, hail tracking alert and more.
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