Current Progressive Cattleman digital edition
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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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On Dec. 17, 2010, President Barack Obama signed The Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (2010 Tax Relief Act) in an effort to stimulate the economy.

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There are many websites and radio advertisements that offer services to help “compromise” IRS tax bills.

Many of these offers make dubious claims and can entail up-front costs that exceed the results produced.

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It’s a pretty well recognized fact: if you want grid premiums, your cattle have to be better than average.

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Many taxpayers fear being audited, for good reason. An extended period of deductions for livestock ranching or other farming ventures can easily trigger an audit.

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Being able to identify cattle is a key part of raising them. In particular, individual animal identification facilitates keeping records used to make management and mating decisions for improvement.

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Challenges bestowed upon the industry made it clear that a better identification and tracking system was needed at some point.

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