Our Tax Manager, Toni Dietz, recently attended the AAI Agribiz Showcase & Conference and the ISU Farm Transitions Conference, events that offered valuable insights into the latest agricultural innovations and provided essential continuing education for certified crop advisors. These conferences highlighted critical strategies for transitioning family farms and funding retirement, topics that remain a top priority for the LattaHarris team as we navigate the ever-changing agricultural landscape. By keeping our experts at the forefront of these industry shifts, we ensure that when you sit down with us, we are fully equipped to help you manage these changes effectively and maximize your tax benefits.
AAI Agribiz Showcase & Conference
Held in Altoona, the AAI Agribiz Showcase & Conference provided an excellent opportunity for ag retailers to display their latest products, for certified crop advisors to earn continuing education credits, and for all attendees to stay current on industry trends. The day was filled with insightful keynote speeches and specialized breakout sessions. Notable speakers included Arlan Suderman of StoneX, who shared an economic outlook for the sector, and Meaghan Anderson (ISU) and Justin Glisan (IDALS), who discussed the weather and pest forecasts for 2026. Additionally, Joe Kerns of CLMA and Grant Kimberley from the Iowa Soybean Association explored the significant impact Brazil’s agricultural economy is expected to have on U.S. markets.
Several key takeaways emerged from the event, most notably that the U.S. will continue to face stiff competition from Brazil as both nations navigate shifting global demographics over the next 25 years. Interestingly, the focus of major philanthropists is also shifting from general environmentalism toward food security and ensuring local access to healthy food, a trend that is expected to bolster demand for domestic agriculture. In the livestock sector, experts project that cattle prices will remain high for at least another two years. While Brazil saw record beef sales last year due to producers liquidating herds at peak prices rather than risking a market drop, the U.S. market continues to see strong demand driven by health-conscious consumers and a low global supply.
ISU Farm Transitions Conference
Transition planning is a critical tool for ensuring farmers can preserve their legacy in a way that fulfills their personal goals while meeting long-term financial needs. To address these complexities, ISU Extension and Outreach hosted a two-day event in Ankeny focused on passing family farms to the next generation. The sessions covered the inherent dangers of operating without a formal plan, the strategic use of business entities to facilitate a smooth handoff, and the significant role the current economy plays in succession strategies. Additionally, representatives from the FSA, the Iowa Finance Authority, and the Coalition to Support Iowa Farmers provided valuable resources regarding financing programs for young, beginning, and expanding producers.
Key takeaways from the conference reinforced the effectiveness of using an Operating and Rental LLC structure when managing a farm and planning for retirement. Toni also noted that the Iowa Finance Authority offers low-interest programs and down-payment assistance for farmers with a net worth below $900,000; notably, these programs have no age limits and serve as excellent tools for transition planning. Regarding Beginning Farmer Loans, it is crucial to remember that assets purchased with these funds must remain with the individual borrower. For example, a farmer cannot use a loan to construct a new dairy barn and then contribute that barn to a partnership, as ownership must remain with the individual—though it can be transferred to a Single Member LLC (SMLLC).
As the agricultural industry evolves, having a proactive strategy is more important than ever. Whether you are navigating global market shifts or structuring your farm’s legacy, our team is here to help. Reach out to Toni or any of our experts at LattaHarris today to ensure your plan is ready for the future.