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U.S. Agriculture Exports are Shrinking

CPA Practice

Star Tribune (via TNS) When Land O’Lakes CEO Beth Ford urged the Biden administration to help boost ag exports last fall, the country was headed for its worst agricultural trade deficit on record. Department of Agriculture predicts an even larger trade deficit this year — $30 billion — as exports fall and imports continue to climb.

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Form 943: What to Know About Agricultural Withholding

Patriot Software

If you are an agricultural employer, you likely withhold taxes from your employees’ pay. Various types of employers must withhold taxes from employees’ wages, including employers hiring farm workers. And, you are responsible for reporting wages on IRS Form 943. So, what is Form 943? What is Form 943?

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The Farming Business’s Guide to Agricultural Accounting

Patriot Software

But, some aspects of agricultural accounting—like livestock and land—are specific to farming businesses. Agricultural accounting Q&A Farm accounting tax forms What’s considered a “farm business?” Like any business, you need up-to-date accounting records if you run a farm, ranch, or related operation.

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How FinTech Firms Are Tackling Africa’s Agriculture Challenges

PYMNTS

The company says it is, in essence, enterprise resource planning (ERP) for agriculture. Its goal is to ensure that all of the players in the agriculture value chain — from farmers to produce aggregators and financial institutions — can conduct business in a trusted environment.

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Sowing The Seeds Of Agriculture Banking Modernization

PYMNTS

The farming and agriculture industry remains a pillar of society, and some of the world’s largest banks — like France’s Credit Agricole — first began as institutions to finance small farming businesses. the agriculture sector is widely ignored by big banks and FinTechs. But today, in some markets like the U.K.,

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Agricultural Bank Of China Tests App For Country’s Digital Currency

PYMNTS

Screenshots of an app developed by the Agricultural Bank of China (ABC) for mobile phones was spotted on WeChat Tuesday (April 14). One of China’s state-owned banks has a mobile test app that supports the country’s central bank digital currency, according to a CoinDesk report.

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U.S. Exports to Cuba Increased in 2023

CPA Practice

companies, many based in Miami and Hialeah, exported food and agricultural products worth $342.6 Kavulich said exports other than agricultural products, medicines and donations, which are authorized under specific licenses and policies implemented by the Obama and Biden administrations, were approximately $24 million. That’s a 12.4%