Overview

The Southwest Minnesota Farm Business Management Association is a membership-led organization of farms throughout southwestern Minnesota. The focus is entirely on improving members' farm financial management skills, knowledge, and success.

The association provides members with analysis, confidential peer farm benchmarking, individual consultations and direct connections to University research and expertise.

A group of farmers in southwestern Minnesota founded the SWFBMA in 1939 to help area farmers implement better farm management practices and keep accurate records. Today, the association is based out of the Southwest Research & Outreach Center and is affiliated with University of Minnesota Extension Agricultural Business Management and the Center for Farm Financial Management.

Membership

Association members pay a fee for individualized farm management assistance and access to educational opportunities throughout the year. Association field staff work directly with members to improve record keeping and provide a comprehensive farm financial and profitability analysis.

There are currently over 110 farm members in the Southwest Farm Business Management Association. Learn more about the benefits of membership.

Contact Information:

23669 130th Street, Lamberton MN 56152
Office Phone:  507-752-5081

News

Agriculture Risk Coverage and Price Loss Coverage Webinar: 2021 Decision

01/11/2021 - 16:46

The U.S. Department of 

Agriculture’s (USDA) Farm Service Agency (FSA) in Minnesota is holding a public Agriculture Risk Coverage (ARC) and Price Loss Coverage (PLC) webinar with the University of Minnesota Extension at 2 p.m. on Jan. 12, 2021. Farmers and others involved in agriculture will have an opportunity to learn more about the ARC/PLC programs and factors to consider when making elections for the 2021 crop year. Register now.

UMN Extension, NDSU Extension to offer Farm Safety Webinar Series

01/11/2021 - 16:40

Farm Safety Webinar Series

ROCHESTER, Minn. — University of Minnesota Extension is excited to be partnering with North Dakota State University Extension to offer a series of farm safety webinars this winter. Each of us has been impacted in some way by an accident, injury, or fatality that has occurred on the farm. These events are devastating to communities and impact the livelihoods of those we know and love dearly. The purpose of these webinars is to empower communities and individuals to prioritize safety on the farm. The webinar series will be January-March on Thursdays at 11:00am. Each webinar will last one hour.

 

Potential Tax Implications from the passage of COVID-19 relief package (Consolidated Appropriations Act, 2021)

12/23/2020 - 16:56

Congress has passed a COVID-19 relief package (Consolidated Appropriations Act, 2021) if this bill is signed by the President, significant changes will occur to the way PPP loan forgiveness is handled on your tax return. If your tax plan estimate contains an adjustment to expenses due to PPP loan forgiveness you may want to adjust your tax plan. If your tax plan includes decreases in expenses due to PPP forgiveness this change could increase the amount of expenses deducted and lead to a decrease in federal taxable income in your plan. Highlighted in yellow below is an excellent discussion on the tax implication of this change.