Details on Farm Emergency Aid

We are finally starting to see details on the emergency aid as to timing

Photo by Yosh Ginsu on Unsplash

My friend Jim Wiesemeyer issued a report yesterday on the details regarding the upcoming disaster aid that was authorized last December. We will share those details, however, before that, if you are bumping up against payment limits because you farm as an LLC and you have multiple owners, you may want to consider converting your LLC to a general partnership and having all of the owners as a single member LLC.

This allows for additional payment limits without giving up any liability protection (need to check with your attorney since some states do not treat single member LLCs the same as multi-member LLCs).

If you want to do this, you should have it done before June 1 in order to have it in place for any disaster aid that is coming your way.