Machinery and Equipment is often one of the largest expense categories for a farm or ranch operation. Many producers do not know their machinery and equipment cost for a given activity. Some expenses, such as fuel, repair, and other general costs are fairly easy to quantify; calculating individual expenses for a given machine and field activity is more difficult.

Learn more via the APPLIED RISK ANALYTICS series, covering the application of RightRisk Analytics risk analysis tools, available for download at: RightRisk.org/appliedriskanalytics.

 
Lasting Legacy Course #1 is a two-hour internet-based course covering 1) Intergenerational Relationships- Parent/Adult Child Relationships and Managing Intergenerational relationships, 2) Legacy Components- Values and Life Lessons and Personal Possessions of Emotional value in two modules and four lessons. Also included are a glossary, resource links for further research, and many other features.

Lasting Legacy Course #1 course is available free of charge at RightRisk.org > Courses.

 
Corporations (C Corporation) are probably the form of business entity which comes most readily to mind for most people. They are formed by filing articles of incorporation with the appropriate state officials. The equity owners of a corporation are called shareholders who, in their capacity as shareholders, have only very basic voting rights. They elect the managers of the corporation (called directors), are entitled to vote on most decisions that would require an amendment to the articles of incorporation, and must approve certain fundamental transactions involving a change in structure of the corporation.

Learn more via the recently completed 4-page, 4-color RISK CONCEPTS series, covering seven common forms of business ownership, including the Corporation.

Several RISK CONCEPTS bulletins covering alternative forms of business structure were recently posted and are available for download at: RightRisk.org/riskconcepts.

 
The Feasibility of Alternative Rural Enterprises course is a two-hour internet-based course covering 1) Agricultural and Rural Enterprises, 2) Selecting and Planning for Alternative Enterprise, and 3) Assessing Risks. Also included are a glossary, resource links for further research, and many other features…

The Enterprise Feasibility course is available free of charge at RightRisk.org > Courses.

 
S Corporations are an otherwise ordinary corporation which is eligible for and has elected to be taxed under subchapter S of the Internal Revenue Code. It is formed by filing articles of incorporation with the appropriate state officials. The benefit of electing subchapter S status is that there is no entity level tax. Items of income and loss flow through to the shareholders and are taxed only at the shareholder level. A disadvantage of subchapter S status is less flexibility than C corporations.

Learn more via the recently completed 4-page, 4-color RISK CONCEPTS series, covering seven common forms of business ownership, including the S Corporation.

Several RISK CONCEPTS bulletins covering alternative forms of business structure were recently posted and are available for download at: RightRisk.org/riskconcepts.

 
The Taxes for Agricultural Enterprises course is a two-hour internet-based course covering: 1) Definition of a Farm, 2) The Importance of Records, 3) Farm Income, 4) Farm Expenses, and 5) Tax Management. Also included are a glossary resource links for further research, and many other features.

The Taxes for Agricultural Enterprises course is available free of charge at RightRisk.org > Courses.

 
A general partnership is an association of two or more people who agree to carry on a business as co-owners for a profit. The general partnership is a very flexible form of enterprise. State partnership statutes provide default rules pertaining to management rights and the calculation of each partner’s share of profits and losses. However, the partners in a partnership agreement are generally free to change these default provisions by agreement.

Learn more via the recently completed 4-page, 4-color RISK CONCEPTS series, covering seven common forms of business ownership, including the General Partnership.
Several RISK CONCEPTS bulletins covering alternative forms of business structure were recently posted and are available for download at: RightRisk.org/riskconcepts.