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?

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?”

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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.

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. Overall, the agriculture market in Africa is projected to grow to $1 trillion by 2030. International africa agriculture Agrikore Cellulant FinTech News Tingg

eCommerce Is Transforming Agriculture

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While internet adoption has historically been slow among America’s farmers for making agricultural purchases, current economic and market pressures have pushed them online for better deals, according to The Wall Street Journal. dollar has led the nation’s agricultural exports to decline some $1 billion in 2016. Retail agriculture ecommerce farmers farmsFarmers in the U.S.

Eide Bailly and Conservis partner to connect farm data and business operations

Accounting Today

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Agriculture In Ant Financial’s Blockchain Sights

PYMNTS

30), Bayer Crop Science has struck a pact to work with Ant Financial , affiliated with Alibaba , in an effort that will develop a blockchain-underpinned system to monitor agriculture products. The companies, as noted, have entered into what is known as a letter of intent to use the blockchain technology to boost efficiency and digitize agriculture. As reported by CoinDesk yesterday (Sept.

Reinventing Shopping And Agriculture With Innovation

PYMNTS

Developers, among others, are working on reinventing the mall , which is still a compelling retail venue. And payment flexibility could be one of the keys that brings the consumer back to these facilities.

OnPay Eyes Agriculture With Payroll Partnership

PYMNTS

Small business payroll and HR solutions provider OnPay is targeting the agriculture industry with a new collaboration. Their partnership will see OnPay integrate its payroll solutions onto Magnify, the agriculture management tool recently released by FCSAmerica in conjunction with Xero and Figured. “Agriculture businesses use complex technology to increase and yield and manage production.

In the blogs: Murky depths

Accounting Today

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In the blogs: War and pizza

Accounting Today

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Agricultural Industry Goes Tech With OnPay, Xero Partnership

PYMNTS

Payroll provider OnPay is collaborating with accounting software company Xero to bring back-office services to the agricultural industry, Accounting Today reported on Wednesday (Aug. With Farm Credit Services of America , OnPay and Xero already have a relationship through the Magnify agriculture management software. This gives them access to solutions unique to the needs of their agriculture business so they can operate more efficiently, plan ahead and thrive.”.

Starting Early: Inside Community First’s Youth Agriculture Lending Program

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A lot of these kids do go into the agriculture industry, and many of them come back [to Community First], especially when they’re starting businesses or joining their families’ businesses, whether they’re looking for business accounts or loans,” Nystrom Brito said. . Community First has been offering youth agriculture loans of $100 to $2,500 at 0 percent interest for five years.

Bitcoin Daily: Ant Financial, Bayer Team On Agriculture Blockchain; StrongSalt Gets $3M For Encryption

PYMNTS

The companies will work together to bring the technology’s transparency and traceability to food safety and agricultural supply chains. We are excited to join hands with Bayer Crop Science to explore the application of blockchain technology in agriculture,” Geoff Jiang, the VP and GM of the firm’s Intelligent Technology Group, said, according to Ledger Insights. Agriculture is the foundation of human civilization.

Bitcoin Daily: IBM Eyes Blockchain For African Agriculture; CFTC Goes Back To School On Ethereum

PYMNTS

And IBM has announced that it has partnered with Nigerian agricultural startup Hello Tractor to test a distributed ledger technology (DLT)-driven crop management system. Our vision is to leverage AI, blockchain and the IoT to digitize, optimize and streamline agricultural business processes, creating efficiencies and new services from farm to fork around the world,” wrote Solomon Assefa, vice president, Emerging Market Solutions and director, IBM Research – Africa, in a blog post.

Today In Payments: Amazon Will Lower Affiliate Commissions; Agricultural Bank of China Pilots App That Supports CBDC

PYMNTS

Agricultural Bank of China Tests App for Country’s Digital Currency. Screenshots of an app that the Agricultural Bank of China (ABC) developed for mobile phones was seen on WeChat on Tuesday (April 14).

Bitcoin Daily: Ethereum To Debut New Bitcoin-Backed Token, Agriculture Eyes Blockchain For X-Border Trade

PYMNTS

Many aspects of agricultural trading are highly manual and costly: paper documents, facsimiles, manual retyping of data, and so on,” the companies said. Ethereum is set to launch a new token at the beginning of 2019. According to Coindesk , the companies behind the new token include decentralized exchange startups Kyber Network and Republic Protocol , as well as cryptocurrency custody company BitGo.

Bringing 21st Century Technology To A 12,000-Year-Old Industry

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Robert Morris , founder and CEO of agricultural-imaging company TerrAvion Inc. , Agriculture is the original high-tech industry,” Morris told PYMNTS. “It That’s not easy to do with traditional agricultural methods because modern farms are often large.

QuickBooks Online Payroll Adds Support for Form 943

Intuitive Accountant

QuickBooks Payroll recently has launched support for agricultural companies that file Federal Form 943 in lieu of Form 941/944

Mastercard Uses Blockchain To Innovate AgTech

PYMNTS

That pressure, she noted, has inspired the new partnership that Mastercard and GrainChain are announcing today to tie GrainChain’s agricultural supply chain technology solution into Mastercard’s proprietary blockchain technology to build a more inclusive and productive agricultural supply chain worldwide. The agricultural supply chain is incredibly opaque, particularly in the developing world where demand for GrainChain’s services is highest.

GrainChain Accelerates Farmer Payments With Blockchain

PYMNTS

GrainChain , the farming blockchain system for agriculture and farming business, has moved to the Symbiont network, Assembly, a change which the company anticipates will help expand its business, according to a press release.

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Amazon, Walmart Benefit As More Than 1 Million Food Stamp Shoppers Buy Online

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Department of Agriculture (USDA) expanded the online program, which is available in 46 states and the District of Columbia, according to Bloomberg. Retail Amazon delivery Department of Agriculture ecommerce grocery News walmart What's Hot

Farming’s AI, Data Driven (And Vertical) Tech Revolution

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At a high level, Lo said that conventional agriculture suffers from increased climate volatility and cleanliness issues. She said that vertical farming “essentially electrifies agriculture,” she said, adding that “anywhere that you can generate an electron you can grow food.”.

USDA OKs Over $545M To Help Farmers Impacted By Pandemic

PYMNTS

The USDA’s Farm Service Agency has approved over $545 million in payments for the Coronavirus Food Assistance Program (CFAP) to farmers and agriculture workers in need of financial aid due to the coronavirus, according to U.S.

Blockchain Tackles Farming’s Cash Flow Bottlenecks

PYMNTS

There are risks on all sides of a B2B transaction in the agriculture industry. “If a bank has an agricultural department, it’s very minimal, and they don’t want to take the risk.”

Oxbury, ClearBank To Help Farmers With B2B Payments

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will combine its agriculture and FinTech expertise with ClearBank’s API and Banking-as-a-Service tech to aid businesses in post-COVID-19 recovery. B2B Payments agriculture B2B ClearBank food production News Oxbury What's Hot In B2B

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NEW REPORT: With 5G Anticipation Building, Security Threats Loom

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The 5G network could also expand the use of IoT technology in industries like agriculture. Department of Agriculture (USDA) is currently presiding over a pilot for smart farms, called Farmbeats, that utilizes IoT technology to enable farmers to receive data about their crops in real time. The program is also making use of smart sensors and cloud technology to send agricultural data faster and more accurately.

More Than 200 Bankers Let Go At Wells Fargo

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lending division in recent months, with a focus on its agriculture and energy teams, Reuters reported. The company’s agricultural lending division, which gives loans to farmers, was cut by at least 25 percent, while the bank also laid off about 7 percent of the staff from its energy lending group over the summer. The sources added that many of the agriculture cuts were in rural areas, including North Dakota and South Dakota, which both saw its teams cut in half.

Wells Axes 200+ Staffers From US Lending Units

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lending division in recent months, with a focus on its agriculture and energy teams, Reuters reported. The company’s agricultural lending division, which gives loans to farmers, was cut by at least 25 percent, while the bank also laid off about 7 percent of the staff from its energy lending group over the summer. The sources added that many of the agriculture cuts were in rural areas, including North Dakota and South Dakota, which both saw its teams cut in half.

SMB Financing Fuels Week Of B2B Venture Capital

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Apollo Agriculture. Kenya’s Apollo Agriculture connects small, independent farmers in the country with a product suite that includes working capital financing, data analytics, equipment procurement and more.

If Your State is Legalizing Marijuana, Here's What Accountants Need to Know

CPA Practice

The truth is that as an accounting professional, if you’ve served agriculture, research labs, or retail operations — you already know the basics of serving a cannabis company. The biggest difference lies in the stringent reporting requirements and. Firm Management

U.S. Farming Has A Banking Problem

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reports on jobs figures, the data excludes professions in the farming and agriculture industry. Analysts note that today, the percentage of professionals working in the agricultural sector remains so low that including them in national jobs calculations would not have a statistically relevant effect on overall analysis. “As Department of Agriculture warns that this figure is approaching debt levels seen ahead of the 1980s farm crisis.

US, China Near Completion Of Trade Deal

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Agriculture, in particular, was said to feel the most pain. Purdue University agriculture economist Wally Tyner said, according to Reuters, “It’s something that’s crying for a resolution.” The news outlet reported, citing the Department of Agriculture, that total U.S. agriculture export shipments to China dropped 42 percent in the first ten months of the year to roughly $8.3 With both countries potentially lifting tariffs, the U.S.

Commonwealth Bank De-Merges As New Probe Begins

PYMNTS

Now, authorities are reportedly launching a more targeted inquiry into how lenders treat the agriculture industry. According to Reuters, as shareholders press the agriculture industry for greater profits, rural bank branches are closing, and small farmers are feeling squeezed from “city executives with little care of issues beyond their control, such as drought, wildfires and trade disputes.”.

Building Better Payment Rails With Banks In Mind

PYMNTS

The B2B payment and banking solutions made their debut this week, with ATCE announcing that financial institution Credit Nexus would deploy the tools to facilitate corporate transactions for its clients in the agriculture industry.

Feeding The Food Supply Chain: How COVID-19 Is Changing Farming Nationwide

PYMNTS

The developments have made the already difficult business of agriculture in the U.S. Coronavirus agriculture COVID-19 demand farmers farms Food food supply grocery shopping News Supply Chain

Coronavirus Update: Yum Works With Franchisees On Payments; Workers, Mayors Impact Food Production

PYMNTS

In another region, some mayors in important agricultural regions of Brazil are stopping transportation to help stop the virus from spreading. Also, Colombian presidential policy indicates that individuals who have involvement in agriculture supply chains are able to move about freely. Coronavirus agriculture food production News poultry workers Restaurants South America What's Hot Yum!

EU Bans Unfair Food Supply Chain Practices

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The European Commission, along with the European Parliament and European Council have reached an agreement to introduce a ban on 16 supply chain practices deemed unfair to players in the agriculture and food supply chain, particularly farmers. B2B Payments agriculture B2B European Commission food and beverage News supply chain regulation What's Hot In B2B

Carrefour To Use IBM’s Food Trust Blockchain Network

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Blockchain agricultural technology dlt IBM News Supply Chain What's HotIBM announced on Monday (Oct. 8) that there is growing adoption of its food supply chain network, IBM Food Trust. The blockchain-based cloud network provides participating retailers, suppliers, growers and food industry providers with data from across the food ecosystem to enable greater traceability, transparency and efficiency.

Why Farmers Now Care About Hedging Currency Risk

PYMNTS

Droughts, storms, insect and microbe infestation, war, economic depression, floods — historically, these things would make the difference between feast and famine, and still pose existential threats to agricultural operations and larger economies. Fewer people may starve than was the case in centuries past, but agriculture is still a roller-coaster ride, especially in an era of a rising global middle class and emerging trade wars that target a wide variety of commodities.

Retailers See A Future For Drones Beyond Delivery

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Now, however, Walmart has charged onto the scene with a new use case and a new value proposition for drones — and it may have an easier time getting around the red tape, on account of there being significantly less red tape around drones for agricultural purposes. agriculture. Indeed, it won’t even be the first time Walmart has considered an agricultural use case for drones. Innovation agriculture delivery Drones Farming grocery News patents Retail Technology walmart

Why Walmart Says Blockchain Can Improve Food Safety

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Blockchain agriculture B2B farms Featured News food food safety grocery Health IBM News Retail sku Supply Chain walmartOrigins are all the rage in modern life: origin stories, family origins via DNA and digital ancestry databases. Add to that Walmart ’s latest effort to gain more grocery market share: using blockchain technology to trace the origin of the food sold by the retailer back to the farms from which it came.

How Digital Platforms Are Revolutionizing The $100B Flower Biz

PYMNTS

That’s because you are dealing with farms, and in general, agriculture lags most other industries when it comes to using much of the tech now standard in the payments and commerce spaces. Many consumers may scoff at the idea of wanting to know where your flowers come from and being assured that those items are the product of sustainable agriculture operations.