Financial planning & managing cash flow for the rest of the year
IFAC Accountant, Trevor Boland, is on this week’s Beef Edge podcast to discuss financial planning and managing cash flow for the rest of the year. Suckler and beef farmers are currently receiving higher prices than ever before for their livestock sales, both through the live trade and through beef prices received from processors. Trevor says that farmers need to be aware of what their farm profits are for 2024: what tax is payable on these profits and what the likely farm income is going to be for 2025? Many farmers in the past, Trevor explains, would look at income tax filing deadlines as a target and not need to worry about a tax bill, as quite often many, particularly farmers with off-farm income, found themselves with a low tax bill or indeed a refund. But the IFAC review of 2024 figures to date and projections for 2025 show the majority of suckler and beef farmers across the country will not only have larger income tax bills than normal, but in some cases significant tax bills. For farmers looking at their 2024 figures and expected income for 2025, there are possibilities to reduce income tax bills, invest in the farm for the future, invest in family and make the farm a safer place to live and work. Some options to reduce income tax bills include: Stock Relief, Family Wages ,Income Averaging Pension Contributions and Facility and Safety Improvement. For more episodes from the Beef Edge podcast, visit the show page at:https://www.teagasc.ie/thebeefedge Produced on behalf of Teagasc by LastCastMedia.com
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14:05
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14:05
Why you need a farm succession plan
Teagasc Farm Management specialist, James McDonnell, and Succession Ireland mediator, Clare O’Keeffe, join Catherine Egan and Ciaran Lynch on this week’s joint episode of the Beef Edge podcast and Ovicast to discuss all aspects of generation renewal, succession and mediation. James highlights the importance of Generation renewal while Clare outlines the importance of a mediator to aid the process. It is essential for every farmer to have a farm succession plan in place. There are complex legal and taxation rules that, if planned for, can be managed easily. If not planned for, however, there could be a major impact on the viability of the farm business. Teagasc run Transferring the Family Farm clinics every year. These clinics are designed to help farm families through the process and all aspects that need to be considered when transferring the family farm. In 2025, clinics will take place at six venues throughout the country. Further details at:https://teagasc.ie/rural-economy/farm-management/succession-inheritance/transferring-the-family-farm/ If you missed the Generation Renewal Webinar , you can watch it back herehttps://www.youtube.com/watch?v=xcKGV0E2InM For more episodes from the Beef Edge podcast, visit the show page at:https://www.teagasc.ie/thebeefedge Produced on behalf of Teagasc by LastCastMedia.com
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37:55
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37:55
John Maher’s Monthly Grass Management Tips
Grass10 Manager, John Maher, joins Catherine Egan for this month's Grass10 update and he discusses the situation across the country, outlining the actions to take to develop an autumn rotation plan on farms Red/Yellow rust has started to appear on grass plants across the country and John discusses management at this stage of the year. You can subscribe to the Grass10 newsletter here:https://www.teagasc.ie/crops/grassland/grass10/grass10-enewsletter/ For more episodes from the Beef Edge podcast, visit the show page at:https://www.teagasc.ie/thebeefedge Produced on behalf of Teagasc by LastCastMedia.com
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12:08
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12:08
Update from the Derrypatrick Herd
Teagasc Researcher, Peter Doyle, is on this week’s Beef Edge Podcast with an update on breeding performance and grassland management for the Derrypatrick herd. Peter discusses this year’s calves’ performance and weaning management. Peter also outlines how he is managing red clover on the farm currently and how it has performed to date. Plus he explains the plan for finishing cattle and the current research taking place on the farm. For more episodes from the Beef Edge podcast, visit the show page at:https://www.teagasc.ie/thebeefedge Produced on behalf of Teagasc by LastCastMedia.com
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14:03
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14:03
Matt Dempsey on Brazilian beef and the future of the Irish beef industry
On this special 300th episode of the Beef Edge podcast, Matt Dempsey, whose career spans multiple decades and various roles in agricultural journalism and beyond joins host Catherine Egan. Matt has been instrumental in driving innovations in Irish agriculture through his work as a journalist, farmer and chairman of various industry groups and he gives his outlook for the Irish beef industry. Matt discusses intervention, suckler incentive scheme, beef tribunal, BSE and Foot and Mouth to name but a few. Matte highlights the work done by the Irish Cattle Breeding Federation as a significant breakthrough as well as the emphasis on easy calving, and also of marbling of beef. He also comments on the emergence of grazing management, fertiliser, and especially grass varieties and reseeding that have been revolutionary. Matt discusses a previous campaign that the Farmers' Journal and the IFA carried out in relation to Brazilian beef which succeeded in getting the actual import regime changed at Brussels level when the beef trade in Ireland and Europe looked as if it was going to be fundamentally undermined. A huge thanks to everyone that has appeared on the Beef Edge podcast over the past 300 episodes and to all the listeners for making the podcast such a success. Be sure visit us at the Teagasc stand at the Ploughing next week! For more episodes from the Beef Edge podcast, visit the show page at:https://www.teagasc.ie/thebeefedge Produced on behalf of Teagasc by LastCastMedia.com
The Beef Edge is Teagasc’s podcast for all the latest news, information and advice for Irish beef farmers, presented by Catherine Egan.
Visit the show page at: https://www.teagasc.ie/animals/beef/the-beef-edge-podcast/
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