Articles tagged under: Ron Haugen

Time for Tax Planning

Published December 2, 2024

Tax planning season is here. "It's always a good idea to get started around this time of the year," said NDSU Extension Farm Management Specialist Ron Haugen. Farmers have a lot to consider when doing their taxes, especially with their…

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Energy Credits and Tax Updates at NDSU Webinar

Published November 27, 2024

NDSU Extension will host a tax management program on Monday. The program will be held on Zoom and offers several presenters. "Alan Gregerson from the IRS is going to be speaking and Rob Holcomb who used to be at the…

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IRS: Income Averaging is Underutilized

Published July 16, 2024

A study by the Internal Revenue Service found income averaging is a tool that is underutilized by farmers. NDSU Extension Farm Management Specialist Ron Haugen explains. "If you happen to have income that's quite high compared to your previous three years,…

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Resources Available for ARC or PLC Decision

Published January 28, 2024

March 15 is the deadline to declare the decision between Agricultural Risk Coverage or Price Loss Coverage programs. NDSU Extension Farm Management Specialist Ron Haugen says a change in reference prices means there is more to consider than last year.…

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NDSU Releases Crop Budgets

Published February 17, 2023

NDSU released its projected crop budgets for 2023, which vary by region and crop.  NDSU Extension Farm Management Specialist Ron Haugen says according to their budgets farmers should make a decent profit across most crops. "There's a few crops in…

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NDSU Forecasts Commodity Prices

Published February 1, 2023

NDSU Extension has released its 2023 short-term and long-term planning price projections. Farm Management Specialist Ron Haugen says commodity prices remain positive. "Spring wheat is projected to be about $8 per bushel, corn at $5.25 and soybeans at $12.25 per…

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Tax Preparation Tip #4

Published December 14, 2022

We conclude our year-end tax tips series with NSDU Extension Farm Management Specialist Ron Haugen. Haugen says one way to reduce tax liability is through retirement planning. "Even if you're young, you have to think about retirement. It's a good…

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Tax Preparation Tip #3

Published December 14, 2022

We continue our series of end-of-year tax tips with NDSU Extension Farm Management Specialist Ron Haugen. We talked about deferring income and spreading income to other year for grain farmers, but Haugen says livestock producers can also use income deferral.…

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Tax Preparation Tip #2

Published December 14, 2022

Our year-end tax planning tips continue with NDSU Extension Farm Management Specialist Ron Haugen. Haugen tells farmers to consider income averaging. "It's not the same as a net operating loss. If you have a higher income one year, you can…

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Tax Tip

Published December 14, 2022

Tax planning is something that should be done year-round, but NDSU Extension Farm Management Specialist Ron Haugen says many decisions are being made now. "The Emergency Relief (Program) payments that we got in 2022 were actually from disasters from previous…

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