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MANAGEMENT

Read how to improve your supervision of employees, financial matters, identification and record keeping. Learn more about land use issues that affect your operation.

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Summer is here, and ranchers are spending many hours every day outside. The warmer weather causes ranchers to shed their layers, exposing their skin to the sun.

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Over the past decade, federal estate taxes have often been in the news and a major concern for farmers and ranchers. In 2008, the estate tax exemption was only $2 million. Thus, a person whose taxable estate at death was worth over the $2 million exemption was required to pay federal estate taxes on the amount over the $2 million exemption.

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Warren Buffett defines a leader as “someone who can get things done through other people.” True leaders have the ability to chart a vision and motivate, inspire and empower people to follow them.

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The livestock sector will see increased profitability this year, according to Dr. David Kohl, Virginia Tech ag economics professor emeritus. He cited low cattle numbers and solid demand for beef, and he noted the prior movement of land “resources out of cattle and into grain sales when that market was high. Only some of those folks will return.”

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During this time of the year, when cattle producers are loading and moving cattle, it is extremely important to pay attention to detail when it comes to safety. No one can afford to get seriously hurt or worse.

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Think about the last contract you signed. Did it contain an alternative dispute resolution clause? Did you agree to mediation or arbitration? Do you know the difference between the two and how either will impact your legal rights?

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