Eastern Iowa Farmer Fall 2021

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Tax changes employer-sponsored health plans or other qualifying coverage. The Rescue Act eliminated the 400% ceiling for eligibility, meaning that those with income above 400% of the federal poverty level may qualify for a PTC if the cost of the premium for the second lowest cost “silver plan” on the Marketplace would exceed 8.5% of their household income. A married couple with no children reaches 400% of the FPL with $69,680 of income in 2021. In such cases, the individual or family may be eligible for a PTC in the amount of the difference between the actual premium and 8.5 premium of their income. The PTC is generally paid, in advance, directly to the insurer. Those who receive an advance premium tax credit must reconcile and repay any overpayment on their 2021 return. The PTC calculated on the return is based upon actual 2021 income, while the advance PTC is based upon estimated income. Those purchasing insurance on the Marketplace should be careful not to underestimate income or they will be responsible to repay any excess PTC they received in advance. Farmers who may benefit from these changes should go to Heathcare.gov to explore their options. The increased credits are available only for 2021 and 2022. Advance Child Tax Credit Many farmers with children have been receiving monthly deposits in their bank accounts since July 15. These are advance payments of a child tax credit expanded for 2021 by the Rescue Plan. These payments too must be reconciled on the 2021 tax return. In some cases, however, the recipient may be responsible to repay some of the advance payment. Since 2018, most parents with children under 17 have been eligible for a $2,000 tax credit per qualifying child when they file their tax return. Eligibility for this credit has not begun to phase-out until modified adjusted gross income exceeded $400,000 for married taxpayers filing a joint return or $200,000 for other taxpayers. The Rescue Plan expanded this credit significantly for 2021 only. In 2021, parents receive a credit for children who are under 18, meaning that they receive the credit for their 17-year-old children. The credit also is increased to $3,000 per child and $3,600 for children under six for taxpayers within certain income thresholds. The increase begins to phase out where income exceeds $150,000 for married taxpayers and $75,000 for singles. Higher earning taxpayers are still entitled to the $2,000 credit for each child. The Rescue Plan also instructed IRS to pay half of these credits to parents in advance. Beginning July 15, eligible parents began receiving monthly payments of $300 for children 5 or younger and $250 for children 6 to 17. For those with higher incomes, their advance payments are $167 per child. Those who do not wish to receive advance credits may “unenroll” through an online portal available on the IRS website. Each spouse must unenroll separately. This unenrollment may be important because, unlike the economic impact payments, the advance child tax credits may have to be repaid if an individual receives more than the payments to which they are entitled on their 2021 returns. Talk to your tax preparer for more details. n GreenTech Spray Foam Insulation Smart Choice, Safe Result 330 S. Sixth Ave., DeWitt, IA • 563-659-6323 www.irwingreentech.com Left to right: Jim Irwin, Kane Grau and Chad Lorenzen GreenTech is a locally owned energy solution company that provides safe and efficient insulation services to farmers, businesses and homeowners who are seeking a competitively-priced and environmentally safe product. SAVE 40% CALL GREENTECH AND LEARN ABOUT THE MANY BENEFITS OF SPRAY FOAM INSULATION and schedule your FREE estimate OR MORE ON YOUR ENERGY BILLS 120 Eastern Iowa Farmer | Fall 2021 eifarmer.com EasternIowaFarmer_Fall2021.indd 120 9/15/21 10:27 am
PROUD. PASSIONATE. PROTECTED. At Farm Bureau we believe strong working relationships should be rewarded. That’s why, when you switch to our coverage, you could be eligible for the Ag Advantage and Ag + Rewards discounts that can continue to grow over time. Contact us today to get started on a customized plan for your ag operation. Barbara Collins 514 8th St. | De Witt 563.659.5135 300 N. Riverview St. | Bellevue 563.872.4884 Douglas Collins 102 S. Olive St. | Maquoketa 563.652.2457 Bridget Miller, Barbara Collins, Kate Perrin, Doug Collins, Lyndsey Eberhart, Megan Graves, Brandi Holst, Missy Ernst, and Joslyn Giesemann. ROP Securities & services offered through FBL Marketing Services, LLC, + 5400 University Ave., West Des Moines, IA 50266, 877/860‐2904, Member SIPC. Farm Bureau Property & Casualty Insurance Company, + * Western Agricultural Insurance Company, + * Farm Bureau Life Insurance Company + */West Des Moines, IA. Individual must be a registered representative of FBL Marketing Services, LLC to discuss securities products. Individual must be licensed with issuing company to offer insurance products. + Affiliates. *Company providers of Farm Bureau Financial Services. PR‐AG‐A (8‐21) EasternIowaFarmer_Fall2021.indd 121 9/15/21 10:27 am
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The Eastern Iowa Fall 2021 Farmer
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D TODD HUSMANN Channel Seedsman Cen
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s... ter! › CommerCial Warehousin
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The Gift of Grain Supporting Future
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Editorial Index 12 30 40 85 Living
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75 Years AND STILL GOING STRONG! Pi
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Living at the county fair For a wee
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living at the fair Logan Gruhn enjo
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Every farm has a story, EasternIowa
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living at the fair Here for your wa
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Amy Schroeder Service Associate Meg
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creative learning Creative learning
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creative learning Stevens emphasize
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creative learning me to have a foun
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Work for YOU! QUALITY SOLUTIONS. LO
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Matt Tracy, Allysen Bonifas, Craig
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We take a hands-on approach when it
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logging exports wife had their firs
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logging exports agents or customer
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At Rockdale Locker, we saw producer
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(Left) Daran Becker watches for bid
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a big year and a natural disaster,
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count on us for All your DrAin tile
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a big year beans around $8 per bush
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a big year Moving forward by ‘thi
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a big year The derecho downed grain
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a big year g ive ts Eastern Iowa Fa
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the edge of the bin. “That storm
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a big year and Shelly Ahrendsen had
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Kara Durward Stephen Clements Evan
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a big year The Supply Chain Shuffle
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a big year Eastern Iowa Farmer phot
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EasternIowaFarmer_Fall2021.indd 65
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a big year rt Tightness in the supp
Page 69 and 70: Whether your tractor is stranded in
Page 71 and 72: now serving eastern iowa farmers at
Page 73 and 74: a big year enough rain. Our factory
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Page 77 and 78: a big year Eastern Iowa Farmer phot
Page 79 and 80: Apple Pie Bars IngredIents: Crust:
Page 81 and 82: Your Partners in Financial Success!
Page 83 and 84: Franzen FaMily TraCTorS anD ParTS S
Page 85 and 86: growing local Eastern Iowa Farmer p
Page 87 and 88: growing local financial experts to
Page 89 and 90: growing local Eastern Iowa Farmer p
Page 91 and 92: It started with one truck... That w
Page 93 and 94: YOUR FAVORITE MASSEY FERGUSON AND F
Page 95 and 96: growing local with novices to creat
Page 97 and 98: Earning your cape through mentorshi
Page 99 and 100: Farrell’s, Inc. Pictured: JR Farr
Page 101 and 102: Eastern Iowa Farmer photo / Brooke
Page 103 and 104: From Garden to Table Gardens can gr
Page 105 and 106: From Garden to Table Garden Fresh R
Page 107 and 108: You’ve got plenty of work to do t
Page 109 and 110: 903 DeWitt St.,Grand Mound www.lega
Page 111 and 112: y her young farm family for the Eas
Page 113 and 114: February 2021 Calving is in full sw
Page 115 and 116: Dear diary make the most of the unf
Page 117 and 118: Dear diary ends meet. As the life w
Page 119: Tax changes they must report the am
Page 123 and 124: Ag Bytes Holdgrafer takes reins as
Page 125 and 126: Ag Bytes tions were the William N.
Page 127 and 128: 1. Aaron Ambrosy and Addison Ambros
Page 129 and 130: 2 3 6 5 7 8 12 7. Kyler Kilburg goe
Page 131 and 132: setting records! We’ve handled a
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Eastern Iowa Farmer Fall 2021

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