We are reaching out in light of the recent wildfires and drought conditions affecting parts of Nebraska, including areas that have been designated as federally declared disaster areas. We know many individuals, families, farmers, ranchers, and business owners are dealing with difficult decisions right now, and we want to highlight an important tax issue that is easy to overlook: insurance proceeds and other recovery payments can sometimes create taxable income, even when the

For Our Ag Clients We have a lot of people asking about how the One Big Beautiful Bill Act (H.R.1) will affect them moving forward. While we are not CPA’s and do not offer tax consulting, we have taken notice of the changes. The following are some highlights that we think you should know about and ask your tax professional if it will be applicable to you. Agriculture provisions Sec. 70301 - This reinstitutes 100% bonus depreciation for qualified property, it appears to includ

This article was first published on June 30, 2025, by Nebraska Farmer as part of the "Tough Decisions" column series, contributed by the Center for Agricultural Profitability. In our conversations about various farm financial management strategies, one question keeps coming up: What are your thoughts on infinite banking? Given how often the concept is misunderstood and how aggressively it’s marketed, we decided to take a closer look. Infinite banking involves purchasing a p

For many farm and ranch families, bringing children or grandchildren into the operation is the ultimate goal. Successfully bringing additional family members into the operation may require some creativity as all parties need to maintain a viable standard of living. This article is part of a series that will highlight ideas and tactics for bringing another family member into the operation. If this is the first article you are seeing in this series, I would encourage you to go

For many farm and ranch families, bringing children or grandchildren into the operation is the ultimate goal. Successfully bringing additional family members into the operation may require some creativity as all parties need to maintain a viable standard of living. This article is part of a series that will highlight ideas and tactics for bringing another family member into the operation. If this is the first article you are seeing in this series, I would encourage you to go

For many farm and ranch families, bringing children or grandchildren into the operation is the ultimate goal. Successfully bringing additional family members into the operation may require some creativity as all parties need to maintain a viable standard of living. This article is part of a series that will highlight ideas and tactics for bringing another family member into the operation. If this is the first article you are seeing in this series, I would encourage you to go

Life insurance can be a key tool for farm and ranch businesses to provide tax-free death benefits at the death of the insured if the policy is structured correctly. This article will discuss using life insurance to fund a buy-sell agreement. Sometimes farms and ranches want to limit who inherits farm or ranch assets at the death of an owner. Coming up with cash at the death of an owner can be difficult for the surviving parties. One solution to this issue could be the use of

By Callie Curley, Contributing Writer That's a line Brandon Dirkschneider, managing principal/president of Insurance Design Management, hears often from landowners before they've taken the first steps toward planning for the next generation on their farm. But what if your kids don't want to manage the farm after you're gone? What if you don't have any children at all? According to Dirkschneider, "That's when you're looking not so much at a succession plan, but an exit strate

PREPARATION CAN'T BEGIN TOO SOON, THEY SAY. Every family has its own needs and criteria when selecting advisors for transitioning their farm or ranch to the next generation. FCSAmerica is now partnering with Nationwide and its Land As Your Legacy program to help families find the right fit for their operation and goals. "Many farmers and ranchers have good local options for transition planning, and we support using these services," said Tony Jesina, senior vice president of