Average net farm income was $8,616 in 1998 for the 210 farms included in this annual report of the Southwestern Minnesota Farm Business Management Association. This is a decrease of 79% from 1997. During the last 20 years, net farm income has been lower than the 1998 level only in 1981 and 1985....

The average net farm income is $65,739 for the 60 farms included in the 1998 annual report of the Southeastern Minnesota Farm Business Management Association. This is a decrease of 12% from 1997. Even though gross cash farm income increased, cash expenses also increased and inventory values...

The average net farm income is $66,412 for the 62 farms included in the 1999 annual report of the Southeastern Minnesota Farm Business Management Association. This is an increase of 1% from 1998. Even though gross cash farm income increased, cash expenses and depreciation also increased and...

Transferring farm property from the Senior to the Junior farm family generation with conventional methods such as sales and debt transfer can cause tax traps or burdens. The most serious tax traps and related problems occur when the farm business being transferred has high debt and is below...