They say that nothing is sure in life except death and taxes, so you should be prepared for a combination of both in the end.
Cliff Polk, estate planning specialist and founder and president of Rocky Mountain Financial Group, provdedd members of the National Cattlemen’s Beef Association (NCBA) Tax and Credit policy committee meeting on Friday with an in depth overview of the tax package passed by Congress at the end of 2010 that included language to reduce the top rate of the estate tax, commonly known as the death tax, to 35 percent and increase the exemption level to $5 million. He reminded producers that proper planning is necessary to ensure they meet estate tax exclusion levels. “Each family has to look at their operation as a business and determine the best succession plan. The next tax law will provide necessary relief from this onerous tax, but family-owned ranches need to take steps today to properly plan for the future of their operations. This industry, your industry, relies on it.”
Another sure thing for agricultural producers in this day and age is environmental regulations and one of the latest is the Environmental Protection Agency’s (EPA) plan to implement the Chesapeake Bay Total Maximum Daily Load (TMDL) rule.
USDA’s Natural Resources Conservation Service (NRCS) Chief Dave White talked about that issue at the NCBA Property Rights and Environmental Management Committee meeting on Friday. An NRCS report, “Assessment of the Effects of Conservation Practices on Cultivated Cropland in the Chesapeake Bay Region,” came up with very different estimates of pollutant loads to the Chesapeake Bay compared to EPA. White believes EPA’s data is flawed when it comes to agriculture.
“Where we have a problem is we think this Bay model is not 100 percent accurate when it comes to agriculture,” White said. “There is just some erroneous stuff in there. We believe 88 percent of cropland (in the Bay areas) is under no-till. EPA is saying 50 percent. That’s a big, big difference.”
The NRCS chief was also at the convention Thursday night to honor the winners of the 20th annual national Environmental Stewardship Awards (ESA) program, which recognizes American farmers and ranchers as the number one stewards of the environment and annually pays tribute to the best of the best around the country.
2011 Cattle Industry Convention Photos
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Scott has switched hats now as he was elected to be vice president of NCBA. The new chairman of the Federation is David Dick, a cow-calf producer from Sedalia, Missouri.
The last business conducted during the Board of Directors meeting of the Cattlemen’s Beef Board was the electing of new officers. The nominating committee announced their slate and a vote passed their nominations.
At the Cattle Industry Convention a lot of work gets done but there are social enjoyment opportunities. At this year’s convention that included the Cowboy Comedy Club and comedian Larry The Cable Guy. Larry was funny I don’t care who you are. He got ‘r done.
The now, just past, Chairman of the Cattlemen’s Beef Board is Dan Dierschke, Texas, pictured being interviewed in the media room at the Cattle Industry Convention. One of the officer duties is to be available to the media during the summer meeting and annual convention. Hopefully, it’s a mostly enjoyable task!
During the CBB Update Session at the Cattle Industry Convention Tom Ramey, CEO, gave his management report. He started out by saying that as a new year begins with new members coming onto the board, he can’t imagine any that will work any harder than those he’s had the honor to serve this past year. Tom says that some CEO’s are drivers of change in their organization and forces to be reckoned with. He, however, sees himself as a servant leader, serving all beef producers across the country. He believes he’s put together a professional staff that he’s extremely proud of and thinks producers should be too.
Members of the new team of National Beef Ambassadors showed up at the Cattle Industry Convention. Pictured are (l-r) Kelli Fulkerson, Michigan, Jessica Sweet, California, Kristen Stufft, Pennsylvania and Austin Joyce, Texas. Not with us is Maddy Ruble, South Dakota. I interviewed them all together.
Government activities that affect cattle producers and cattle health were among the topics discussed at the
Karl Rove helped the 