Section 1031 Exchange in Plain English

IRS Audits – How to Avoid Them

iowaequityexchange — Wed, 23 Dec 2009 18:57:16 +0000

According to the Associated Press, the best way to avoid an IRS audit is to earn less than $200,000. Tax returns showing less than $200,000 go unaudited 99 percent of the time, according to the AP report.

For those with income above $200,000, there is a 3% chance of audit. Earnings of $1 million or more are audited 6% of the time. These percentages apply to both single filers and joint returns.

Another bonus for those under $200,000 in adjusted gross income is that the number of audits for that category remained constant from 2008 to 2009. On the other hand, the numbers of audits rose 11 percent for those with more than $200,000 in income, and 30 percent for returns showing $1 million or more in income.

According to the AP report, the IRS conducted a total of 1.4 million individual return audits durng the financial year ending September 30, 2009.

Although not mentioned in the AP report, it is widely thought in the 1031 exchange industry that participating in an exchange is not in itself any sort of red flag or trigger for additional scrutiny.

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Please consider IOWA EQUITY EXCHANGE as your trusted source for answers to your questions about Section 1031 like-kind tax-deferred exchanges. Contact us at your convenience for prompt, accurate information. Please think of us for your next exchange.

Ken Tharp

800-805-1031 toll free

Providing Qualified Intermediary services for Section 1031 tax deferred exchanges all over the United States. Headquartered in Iowa, our services are available in Missouri, Kansas, Nebraska, Colorado, North Dakota, South Dakota, Minnesota, Wisconsin, Illinois, and all other states.

INTEGRITY. PRECISION. SECURITY.

The Power of the Section 1031 Exchange – A Spreadsheet

iowaequityexchange — Sun, 20 Dec 2009 21:50:12 +0000

Here’s another spreadsheet for your entertainment and enlightenment. If you’ve been following this blog for awhile, you may remember an earlier spreadsheet that compared buying and holding a property for ten years to buying the same property, holding it for five years, exchanging into another property, and holding the new property for another five years.

This new spreadsheet takes a little different approach. Its purpose is to compare the value of exchanging to simply selling and reinvesting without the benefit of an exchange.

Remember, there are four sources for income/profit from a real estate investment:

Cash flow before taxes
Tax benefits
Principal reduction
Appreciation

This spreadsheet ONLY addresses #4, Appreciation.

In the first section of the spreadsheet, you can enter the assumptions that you want to use. Here’s a screen shot of that section, populated with some assumptions I made:

You can see that this sample investor is starting with $25,000 as a down payment. He’s going to finance 90% of the purchase price of this new property.

When the property is sold, the assumption is that the sale expenses will be 7% of the total sale price, and that depreciation recapture, federal capital gain taxes and state capital gain taxes will total 30% on the gain recognized.

We go on to assume that properties will appreciate at 3% per year over the time frame of the comparison, and that each property will be held for five years.

All of these numbers are variable; you can use whatever you think is fair. The assumptions apply to each purchase and sale throughout the time frame of the comparison.

The next section of the spreadsheet calculates the net profits and available capital to move into the next property. It looks like this:

Comments: The Net Profits after the first period (which is five years, based upon the assumptions entered above) without the benefit of a 1031 exchange are $13,672. Adding the profits to the original $25,000 gives the Available Capital of $38,672 to use on the next property. In comparison, the exchanger would have $19,531 in profits and $44,531 as a down payment on the next property. Profits after the second period start to diverge between the exchanger and the non-exchanger even more: $21,149 for the non-exchanger, $34,790 for the exchanger. ($59,820 in Available Capital for the non-exchanger versus $79,321 for the exchanger.)

You can start to see the impact that deferral of taxes has on one’s investment potential. Looking at the next section of the spreadsheet will drive the point home:

Comments: It is not uncommon to see the Net Profits double after only three periods based on reasonable assumptions. They don’t quite double using my assumptions, but I’d still rather be moving into the fourth property with almost $62,000 in profits versus only $32,714. You can follow through the fourth period and see the Power of the Section 1031 Tax-Deferred Exchange!

If you are interested in obtaining your own copy of this spreadsheet, it is downloadable here: Power spreadsheet. Or, if you would prefer, we would be happy to email this spreadsheet to you. Simply send an email to us and put “Power spreadsheet” in the subject. We will promptly send you the spreadsheet. We hope it’s helpful to you and that you’ll have some fun with it. Remember that it is just an exercise and does not predict the future.

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Please consider IOWA EQUITY EXCHANGE as your source for answers to your questions about Section 1031 like-kind tax-deferred exchanges. Contact us at your convenience for prompt, accurate information. Please think of us for your next exchange

Ken Tharp

800-805-1031 toll free

INTEGRITY. PRECISION. SECURITY.

Copyright © 2009 By Ken Tharp, All Rights Reserved. * The Power of the Section 1031 Tax-Deferred Exchange – Free Spreadsheet * Contact Ken Tharp for information on Section 1031 tax-deferred exchanges anywhere in the United States.

Iowa Land Prices Decline; First Time in Nine Years

iowaequityexchange — Fri, 18 Dec 2009 22:20:15 +0000

Iowa State University economist Michael Duffy reports that average farmland prices dipped 2% over the course of 2009, the first decline since 1999. The primary culprit for the decrease was a drop in corn, soybean and livestock prices, according to Duffy. The average value of an acre of Iowa farmland decreased to $4,371 during 2009 from $4,468 in 2008.

During the near-decade of land value increases, the average value of an acre of farmland rose 145 percent. (See chart from the Des Moines Register below.)

Although the average price of farmland did decrease during 2009, not all areas of the state were so affected. Northwest Iowa, northeast Iowa, and some counties in east and southeast Iowa saw slight increases in values. Allamakee County in the very northeastern corner of the state registered the greatest jump in value, up 5.7% over 2008.

Overall average land values on a county-by-county basis ranged from a low of $1,957 per acre in southern Iowa’s Decatur county to a high of $6,153 in northwest Iowa’s O’Brien county.

There is close to a consensus that values have stabilized and may be trending higher again. Most of the decline is attributable to events early in 2009, and prices seem to have resumed a slow upward march in the last half of the year.

According to the Duffy’s survey results, which were the basis for these conclusions on land values, 72 percent of land sales in 2009 were to existing farmers, primarily neighbors. Twenty-three percent of sales were to investors, and four percent were to new farmers. Duffy also mentioned that the investor category of buyers consisted primarily of Iowans “who are familiar with farming and want to add to their holdings. There isn’t too much evidence of three-piece-suit, Wall Street types among farmland investors,” he said.

(As an ironic aside, we received a phone call from a gentleman calling from the heart of Manhattan last week who asked us about investing in farmland. We have since determined that the call was bonafide, although it is unknown at this time whether the caller will actually end up an owner of Iowa farmland.)

Our conclusions about this report? We think we’ll go along with what Randy Hertz of Hertz Farm Management said. “Farmland is still the best investment you can make.” It’s hard to argue with him on that.

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Ken Tharp

800-805-1031 toll free

INTEGRITY. PRECISION. SECURITY.

Copyright © 2009 By Ken Tharp, All Rights Reserved. * Iowa Land Prices Decline; First Time in Nine Years * Contact Ken Tharp for information on Section 1031 tax-deferred exchanges anywhere in the United States.

To Combine or Not to Combine – That is the Question

iowaequityexchange — Wed, 29 Apr 2009 19:40:39 +0000

What the title of this blog refers to is whether or not it makes sense to sell or buy more than one property in a single Section 1031 tax-deferred exchange. First we must establish the fact that more than one property can be sold and/or purchased within one 1031 exchange. In other words, I can sell two or more properties and combine those sales into one exchange, out of which I can buy one replacement property. Likewise, I can sell one property and buy two or more properties as my replacement property in an exchange. Or I can sell two or more propertes and buy two or more properties as my replacement property in a single exchange.

Many times clients or potential clients contact us with questions about the benefits and the hurdles when considering whether to combine multiple properties into one 1031 exchange. Let’s try to break it down. Here are some questions to consider when making such a decision:

Regarding multiple relinquished properties:

Will my relinquished properties all close at once, or within a short period of time? (If so, it will make combining them into one exchange much easier.)
If not, am I sure that they will all close with enough time remaining to complete the exchange within the 180 days allowed?

Regarding multiple replacement properties:

Will I be able to complete the purchase of all replacement properties within the 180 day exchange period?

Regarding multiple relinquished properties AND multiple replacement properties:

Will my relinquished properties close in a sequence that will allow me to close on the replacement properties in accordance with my purchase agreements and/or the sellers’ requirements?

As I often say when discussing Section 1031 exchanges, sometimes an example or two is better than all of the explanation in the world.

For the first example, let’s assume that I own two properties and each one is worth $150,000. I would like to sell both and purchase as my replacement property one larger property valued at $300,000. Doable, to be sure, but there are some potential pitfalls. Let’s say my first sale closes on January 1. This establishes the beginning date of the exchange, which means it will end 180 days later on June 30 (assuming we’re not in a leap year). The seller of the property I want to buy is willing to wait until April 1 to close. On March 15, the date the second sale was scheduled to close, the buyer of my second property runs into difficulty obtaining financing, or worse, backs out of the agreement. The seller of the property I want to buy may allow me an extension, but he may not. Even with an extension, if the second relinquished property doesn’t close in time to allow me to close on the property I want to buy, my exchange is in serious jeopardy of failing.

For the second example, let’s assume the reverse: I own one property that I am selling for $300,000 and I want to purchase two properties, each worth $150,000. This setup is usually less problematic than the first example, but there still can be issues. Let’s again say that closing of the relinquished property occurs on January 1. My exchange account is opened with $300,000, and I identify only the two properties that I want to purchase as my potential replacement property. On March 15, I close on the first property. However, the second property has a cloud on the title, or there is an environmental issue that must be resolved. There could be any number of possible problems that could keep the second property from closing. (This is one reason to always identify a reasonable number of potential properties during the ID process, subject of course to the limitations that the rules impose, so that you have a fallback plan if something prohibits you from closing on your first choice.) If the issues preventing the purchase from being completed are not resolved prior to the end of the exchange period on June 30, my exchange will only be partially successful and I may have a sizable tax bill for the money I could not put into the second property I had planned to purchase.

The answer to the question of whether you should combine properties into one exchange or not is the favorite answer of all advisors: It depends. With proper advance planning and careful oversight, it is entirely possible to complete a successful exchange with multiple properties on either or both sides of the exchange; we do it on a regular basis for our clients. But do your homework and make sure your ducks are in a row before entering into what is typically an endeavor that carries a little more risk than a regular one-property-for-one-property Section 1031 exchange.

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Ken Tharp

800-805-1031 toll free

INTEGRITY. PRECISION. SECURITY.

Copyright © 2009 By Ken Tharp, All Rights Reserved. * To Combine or Not to Combine – That is the Question * Contact Ken Tharp for information on Section 1031 tax-deferred exchanges anywhere in the United States.

The Top Ten (Actually, Eleven) Reasons People Use Section 1031 Tax-Deferred Exchanges

iowaequityexchange — Wed, 29 Apr 2009 19:36:55 +0000

Clearly, the overriding reason is the ability to defer payment of capital gain taxes, including the recapture of depreciation. With depreciation recapture at 25% (or more, depending upon the type of depreciation taken and the period over which that depreciation was taken) and federal capital gain tax at 15%, plus state capital gain taxes (depending upon the state, of course), taxes can easily account for 30% or more of the gain recognized. But there are other reasons that taxpayers exchange. Most exchanges have secondary reasons for exchanging in addition to tax deferral. Among those reasons are:

Consolidation. Example – taxpayer owns several properties, perhaps in different states, and wishes to consolidate his holdings into one property.
Diversification. Example – taxpayer owns one large property and wishes to diversify her holdings over a wider group of properties.
Relocation. Example – taxpayer has moved to new location and wishes to move his investment to the same location.
Reduction of management headaches. Example – taxpayer has owned high-maintenance property and wishes to reduce management responsibilities by exchanging into triple-net leased property.
Solution to partnership problems. With proper advance planning, property owned by a partnership can be sold and the partners can go their own ways, some choosing to exchange and others cashing out.
Increase cash flow. Example – taxpayer owns raw land that produces little or no income and wishes to exchange into income-producing property.
Estate planning reasons. Example – taxpayer owns one property but has three heirs who do not agree on how to dispose of the property after the death of the taxpayer. Taxpayer can exchange out of one property into three similar properties and each heir can decide how to handle his or her own property.
Re-leveraging of equity. As each year of ownership passes, one’s equity in a property typically increases. Generally, the return on equity that the property produces decreases annually. Exchanging allows a taxpayer to re-leverage her equity.
The increase of equity by buying at a discount. If you believe, as the old real estate adage goes, “You make your money when you buy,” should you not buy more often? A rhetorical question, to be sure, but if you are able to buy at a discount, tax-deferred exchanges can create wealth more quickly than any other technique.
Debt issues. Example – taxpayer owns a fleet of vehicles for his business. His old practice was to sell 25% of them each year and replace them with new vehicles. By taking the maximum deductions, his accountant advised him that he came out ahead by borrowing the money to purchase the new vehicles. In today’s world, where borrowing is more difficult, the savvy business owner recognizes that by structuring this transaction within a 1031 exchange, he can reduce or eliminate his need to borrow money and likely end up ahead in both cash flow and tax benefits.

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Ken Tharp

800-805-1031 toll free

INTEGRITY. PRECISION. SECURITY.

Copyright © 2009 By Ken Tharp, All Rights Reserved. * The Top Ten (Actually, Eleven) Reasons People Use Section 1031 Tax-Deferred Exchanges * Contact Ken Tharp for information on Section 1031 tax-deferred exchanges anywhere in the United States.

Is the Term “Like-Kind” Confusing to You? Here’s a Simple Explanation

iowaequityexchange — Wed, 29 Apr 2009 19:33:58 +0000

Does it confuse you when you hear that property in an exchange must be exchanged for “like-kind” property? In the talks that I give to real estate agents, investors, attorneys and accountants, I think I’ve hit on an easy way to determine whether or not the property being sold is like-kind to the property being purchased.

Before getting into the details, let’s first establish that virtually all real estate is like-kind to virtually all other real estate. That makes it pretty simple, doesn’t it? But there is one major qualifier. Property in an exchange must have been “held as an investment or used in the pursuit of a business or trade.” Those words come directly out of Section 1031 of the code.

That qualifier is the basis for my easy way to determine whether or not properties are like-kind. Here’s the “secret:” Regarding the property you intend to sell, ask yourself this question:

Did I hold this property as an investment or use it in the pursuit of my business or trade?

If you can honestly answer, “Yes” to that question, then the property will qualify for the exchange. However, that is only half of the battle; the property you intend to purchase must also qualify. In order to determine whether it does, ask yourself this question:

Do I intend to hold this property as an investment or use it in the pursuit of my business or trade?

Again, if you can honestly answer that question, “Yes,” then it also qualifies and you have identified like-kind property for your exchange.

EXAMPLE:

So, what kind of real estate doesn’t qualify as like-kind? The easy answer is “property that hasn’t been held as an investment or used in the pursuit of a business or a trade.” What that means in English is that if you purchased a property without the intent to hold is as a long-term investment, it does not qualify for an exchange. Property purchased to flip would be an example. Can one’s intent change? Yes, but it is up to the exchanger to establish that intent has changed through such things as holding the property out for rent, actually renting it, etc.

In conclusion, if you just remember to ask yourself (or have your client ask himself) those two questions, you will know whether or not your properties are like-kind to one another.

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Ken Tharp

800-805-1031 toll free

INTEGRITY. PRECISION. SECURITY.

Copyright © 2009 By Ken Tharp, All Rights Reserved. * Is the Term “Like-Kind” Confusing to You? Here’s a Simple Explanation * Contact Ken Tharp for information on Section 1031 tax-deferred exchanges anywhere in the United States.

Selling, Serving, and Being Serious

iowaequityexchange — Wed, 29 Apr 2009 19:21:26 +0000

This will be a first… I’m going to give you an inside look at what it is we are trying to do here at Iowa Equity Exchange. First of all, props to Jeffrey Gitomer for a column on this topic that prompted me to devote detailed thought to these things. Let’s start out with a definition.

When you think of someone who is “serious,” does that conjure up the image of a staid, stoic individual, boring and stiff? In business, that’s just not the case. The actions that are taken by a business build its image. If your business shows a desire to serve that is accompanied by the ability to serve, the public (your customers/clients) may perceive you as serious. Isn’t that what you want, to be taken seriously by your customers and clients?

As a businessman, I certainly want my business to be taken seriously by its clients. Here’s a list of some of the things I want our clients to know about us:

I want them to know that we are serious about helping them. Most of our clients have a lot of questions both before they enter into an exchange and during their exchange. We are available for them to talk to by calling our office number pretty much anytime during normal waking hours, seven days a week. On the chance that we do not answer their call in person, it’s rare that the call does not get returned within an hour.
I want our clients to know that we are serious about knowing what we’re doing. Handling Section 1031 exchanges is all we do. This is our full-time business, and we take the actions necessary to stay on top of changes that affect exchanges. We are one of a very small percentage of qualified intermediary companies that belong to the Federation of Exchange Accommodators, the national association for the exchange industry.
I want our clients to know that we are serious about being an online leader. We invest in our future by maintaining an online presence. regularly updating our website. We post blog articles periodically. We maintain and update our LinkedIn profile, including linking this blog to our profile and uploading presentations to our profile. You can follow us on twitter (@kentharp), and we’re on facebook.
I want our clients to know that we are serious about being friendly and creating a pleasant atmosphere. Being friendly doesn’t cost any more than not being friendly, and it sure makes life more pleasant.
I want our clients to know that we are serious that now is the time. Our heads are not in the sand; we recognize that times have changed. Regardless of conditions, though, we will strive to maximize the opportunities that exist now, not wait for things to change.
I want our clients to know that we are serious about striving for perfection in everything we do. We’re not there yet and we may never get there, but we’ll keep trying. Our clients also discover that we recover from any imperfections in extremely short order.
I want our clients to know that we are serious about doing the right thing. Our clients’ best interests are always the inspiration for our actions. Sometimes this means telling our clients that an exchange may not be the best course of action for them, meaning we lose potential business. If it’s best for the client, it will serve us best in the long run.

How does all of this relate to selling? It is my belief that a business cannot really attempt to sell its services until its clients are comfortable that the business is serous about itself. The only real way to show your clients that you are serious about your business is to serve them properly. After you provide quality service to your client and establish that you can be taken seriously, making the sale is almost a foregone conclusion.

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Ken Tharp

800-805-1031 toll free

INTEGRITY. PRECISION. SECURITY.

What Do I Put in My Purchase Agreement if I Want to Do a Section 1031 Exchange?

iowaequityexchange — Wed, 29 Apr 2009 16:35:18 +0000

One of the most common questions we receive is something along the lines of “What do I put in my Purchase Agreement if I want to do a Section 1031 exchange?” The answer can sometimes be, “Nothing,” although we do suggest that you use what is known as a cooperation clause. By law, there is no requirement for the cooperation clause. What is required, however, is that the contract be assignable, or in most states, that there be no restriction on the contract’s assignability. In other words, your purchase agreement should not have language that says “This contract may not be assigned to another party by the buyer or the seller.”

The reason for this is simple – in an exchange, the exchanger must assign the purchase agreement to the intermediary for the exchange to proceed. If a prohibition to assigning is present and it is not stricken from the contract, an exchange is not possible. What if you have already signed a contract that is so-restricted? As long as both sides agree, an exchange is still possible by using an addendum where the parties agree to allow assignments.

A more common approach is for the seller to lay his cards on the table and disclose to the buyer that he intends to perform a Section 1031 exchange by including a cooperation clause in the purchase agreement. There is really no downside to doing so when selling. By doing so, the exchanger establishes his intent and elicits the cooperation of the buyer. There is no loss of negotiating power when acting as the seller.

On the contrary, when a client has already sold his relinquished property and entered into an exchange, there can be a loss of negotiating power when offering to buy a replacement property. Let’s assume that the exchanger has already formally identified three properties that could serve as his replacement property. For whatever reason, two of them are no longer available. (Perhaps they were sold to another party, or the seller took them off of the market, or one had a fire, etc.) Now the exchanger has but one property he can purchase to complete his exchange. If the purchase agreement contains language requesting the seller’s cooperation for an exchange and the seller is savvy about exchanges, that seller may justifiably believe that he has the upper hand in any negotiations. That is why we often suggest that the exchanger leave out the cooperation language until after negotiations have concluded, instead having them make sure that the agreement does not restrict assignments. Then after the fact we can have an addendum added to the agreement that contains the cooperation language.

Now, what is this “cooperation language” that I’ve referred to so many times? Here is our version for when you are selling:

“It is the intention of Seller to transfer the above-listed property pursuant to Internal Revenue Code Section 1031, which sets forth the requirements for tax-deferred real estate exchanges. Seller’s rights and obligations under this and future agreements will be assigned to Iowa Equity Exchange, qualified intermediary, for the purpose of completing an exchange. Buyer of the above-listed property agrees to cooperate with Seller and Iowa Equity Exchange in a manner necessary to enable Seller to complete said exchange. Such cooperation shall be at no additional cost or liability to Buyer.”

Feel free to copy and paste this into your purchase agreements and get in touch with us whenever you are considering an exchange!

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Please consider IOWA EQUITY EXCHANGE as your trusted source for answers to your questions about Section 1031 like-kind tax-deferred exchanges. Contact us at your convenience for prompt, accurate information. Please think of us for your next exchange.

Ken Tharp

800-805-1031 toll free

INTEGRITY. PRECISION. SECURITY.

Copyright © 2009 By Ken Tharp, All Rights Reserved. * What Do I Put in My Purchase Agreement if I Want to Do a Section 1031 Exchange? * Contact Ken Tharp for information on Section 1031 tax-deferred exchanges anywhere in the United States.

Omaha1 Real Estate Investment Association Meeting

iowaequityexchange — Wed, 13 Feb 2008 17:43:38 +0000

You are invited to the Omaha1 Real Estate Investment Association meeting to be held on Monday, February 18, 2008, at the Westside Community Conference Center, 3534 South 108^th Street, Omaha, Nebraska, and beginning at 7:00 p.m.

Come hear Ken Tharp from IOWA EQUITY EXCHANGE speak on the subject of Section 1031 tax-deferred exchanges. Ken will present the basics of the Section 1031 process and get into some of the more sophisticated applications as well. Bring your questions and your particular situation. Take-home materials will be available at the meeting.

Come visit with Ken, learn about tax-deferred exchanges, and see why IOWA EQUITY EXCHANGE is the company you should use for your next Section 1031 tax-deferred exchange.

Schedule:

7:00 a.m. – 7:30 p.m. Networking

7:30 p.m. – 8:45 p.m. Meeting and Section 1031 Presentation

8:45 p.m. – 9:30 p.m. Networking

For details, contact Lyn Weight at lynweight@alltel.net.

Ken Tharp

Providing Qualified Intermediary services for Section 1031 tax deferred exchanges all over the United States. Headquartered in Iowa, our services are available in Missouri, Kansas, Nebraska, Colorado, North Dakota, South Dakota, Minnesota, Wisconsin, Illinois, and all other states.

INTEGRITY. PRECISION. SECURITY.

Copyright © 2008 By Ken Tharp, All Rights Reserved. * Omaha1 Real Estate Investment Association Meeting * Contact Ken Tharp for information on Section 1031 tax-deferred exchanges anywhere in the United States.

Iowa Land Investment Expo

iowaequityexchange — Wed, 13 Feb 2008 17:40:03 +0000

The first Iowa Land Investment Expo will be held in Des Moines, Iowa, this Friday, February 15, 2008, at the West Des Moines Marriott, 1250 Jordan Creek Parkway, West Des Moines, Iowa.

IOWA EQUITY EXCHANGE is pleased to be an Exhibitor at this great event. Ken Tharp will be present all day to answer your questions about Section 1031 tax-deferred exchanges and how they might be utilized in your situation. Take-home materials will be available, and there will even be a drawing at the IOWA EQUITY EXCHANGE booth at the end of the day for a $50.00 dinner out gift certificate at Fire Creek Restaurant.

Come visit with Ken and see why IOWA EQUITY EXCHANGE is the company you should use for your next Section 1031 tax-deferred exchange.

Schedule:

7:30 a.m. to 8:00 a.m. Registration/Exhibitor Session

8:00 a.m. – 10:00 a.m.General Session
Introductions – Ken Root, WHO Radio
Financial Update – Don DeWaay, DeWaay Capital Management
Attaining New Yield Plateaus – Scott Jungman and Dr. David Bubeck, Pioneer
Land as a Diversification Tool – Moe Russell, Russell Consulting Group

10:00 a.m. – 10:30 a.m. Coffee Break/Exhibitor Session

10:30 a.m. – 11:15 a.m. Breakout Sessions (4 choices)

11:15 a.m. – 1:45 a.m. Lunch and Keynotes
Opportunities in Rural Iowa – Mark Reisinger, USDA Rural Development
Special Guest – Tom Dorr, Under Secretary U.S Department of Agriculture Rural Development
Demographics in Agriculture – Wendy Gady, Pohaku
Farm Bill Update – Elizabeth Williams, DTN

1:45 a.m. – 2:00 p.m. Afternoon Break/Exhibitor Session

2:00 p.m. – 2:45 p.m. Breakout Session (4 choices)

2:45 p.m. – 3:00 p.m. Afternoon Break/Exhibitor Session

3:00 p.m. – 4:45 p.m. General Sessions
Iowa Agriculture, What’s Next? – Craig Lang, Iowa Farm Bureau Federation
World Grain Supplies – Virgil Robinson, Pioneer
Land Value Trends – Mike Walsten, LandOwner Newsletter
Land Value Discussion – Mike Duffy, Iowa State University

4:45 p.m. – 6:00 p.m. Social /Cocktail Hour

Cost to attend is $35.00. Please call 515-961-0247 for registration information.

INTEGRITY. PRECISION. SECURITY.