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Note: This website is intended to provide general information about legal issues, crop insurance, farm policy, and other risk management issues and should not be construed as providing legal advice. It should not be cited or relied upon as legal authority. For advice about how the issues discussed here might apply to your individual situation, you should consult an attorney.

Welcome to the Maryland Risk Management Education Blog, provided by the University of Maryland Department of Agricultural and Resource Economics. This blog provides readers with information on risk management issues important to Maryland agriculture, upcoming events, and new materials that may interest readers.

Federal Estate Tax and Gift Tax Limits Announced For 2020

Paul Goeringer

Feb 18, 2020
3 min

Federal Estate Tax and Gift Tax Limits Announced For 2020

This is not a substitute for legal advice. See here for the site’s reposting policy. In November 2019, the IRS announced the revised federal estate tax and gift tax limits for 2020. The federal estate tax limit rises from $11.4 million in 2019 to $11.58 million in 2020. The federal gift tax limit will remain at $15,000 in 2020. In Maryland, state estate tax limits will stay at $5 million. Federal Estate Taxes For 2020, the federal estate tax limit increases to $11.58 milli

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Admin

Nov 3, 2017
4 min

Weekly Roundup Nov. 2nd

By Sarah Fielder New Federal Gift Exclusion and Lifetime Exclusion Amounts Announce for 2018 Recently IRS announced that the annual gift exclusion will be $15,000 per person and the lifetime exclusion amount will increase from $5.45 million in 2017 to $5.6 million in 2018. The annual gift exclusion allows a taxpayer to gift up to $15,000 per person taxfree and any amount over $15,000 would be subject to taxes. The lifetime exclusion allows a taxpayer to give up to $5.6 mill

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Admin

Oct 6, 2017
2 min

Weekly Roundup Oct. 5th

By Sarah Fielder Save the Date for the Ag Outlook and Policy Conference The Department of Agricultural and Resource Economics annual Ag Outlook and Policy will be held on Dec. 12 at the Crowne Plaza in Annapolis. Details of the conference will be coming in October, but save the date for an informative day in Annapolis. Baltimore Food Trucks Challenge 300-foot Ban Last week, Baltimore food truck owners were in court challenging the city’s 300-foot ban from operating near a br

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Aug 19, 2016
3 min

Weekly News Roundup: August 19th Edition

By Mayhah Suri What Kind of Ag Law Outreach Would You Like to See? Now available online is a program evaluation for the Ag Law Education Initiative (ALEI). The evaluation will help ALEI determine what topics to prioritize in the coming years. Let us know what you want to know! You can take the brief, anonymous survey here: http://go.umd.edu/ALEIEval New Rules for Somerset County Chicken Farms Bill Satterfield is Executive Director for Delmarva Poultry Industry, Incorporated.

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How to Handle Crop Insurance Proceeds and Farm Program Payments on Your Taxes

Paul Goeringer

Feb 22, 2016
3 min

How to Handle Crop Insurance Proceeds and Farm Program Payments on Your Taxes

This post should not be construed as tax advice. Tax season is upon us and hopefully you have taken all your documents to your accountant. In 2015, some of you may have received an Agriculture Risk Coverage (ARC) County payment or a Price Loss Coverage (PLC) payment, depending on the Farm Bill program you elected to participate in. Some of you may have also received an indemnity payment from 2015 crop insurance coverage. Many of you may be curious; can you defer these paym

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Frequently Asked Questions: What Exactly is a Hobby Loss?