Financial Statements

Authors: Dorothy Nuckols - Priscilla Graves

Paying for health care can be a struggle, even if you have insurance. Many doctors and dentists now offer a special medical credit card to pay for services. However, medical credit card interest and fees can be very expensive. They add extra costs to medical care when money is already tight. Authors: Dorothy Nuckols and Priscilla Graves; Title: Medical Credit: Safety Net or Debt Trap?

Authors: Julie Walker - Mayhah Suri - Paul Goeringer

This fact sheet provides an overview of the bankruptcy title used by family farmers and fishermen to reorganize debt. Authors: Julie Walker J.D. Candidate 2020, Drake University Law School, Research Associate, University of Maryland, Mayhah Suri, Extension Specialist, and Paul Goeringer, Extension Legal Specialist; Title: A Practical Guide to Chapter 12 Bankruptcy for Maryland Farmers and Fishermen (EB-439)

Authors: Lori Lynch - Paul Goeringer - Wesley Musser

In 2014, the Maryland General Assembly recoupled the state estate tax exemption with the federal estate tax exemption. Recoupling is tying Maryland’s state estate tax exemption back to the federal estate tax exemption something that has not happened since 2001. Over the next 5 years, Maryland’s estate tax exemption will be gradually increased in 2015 and each year after until the state’s exemption is equal to the federal exemption in 2019. This will have ramifications on existing estate plans in the state. To aid Maryland residents understand this change and the estate planning process, Lori Lynch and I worked to update the Estate Planning For Maryland Farm Families fact sheet. This publication was originally developed by Lori and Wes Musser and provides a general overview of many of the tools utilized in estate planning and discusses potential tax implications that you should be aware of. Authors: Paul Goeringer, Lori Lynch, and Wesley Musser; Title: Estate Planning for Farm Families (FS-972)

Authors: Mayhah Suri - Paul Goeringer

A conservation easement is a right or power which a landowner gives to a third party. Landowners may choose to donate easements for a variety of reasons, including tax benefits and/ or an interest in land conservation for environmental or other concerns. This guide walks through some legal considerations for landowners interested in leasing land with an easement for agricultural use.

Authors: Lacie Ashby - Denise Frebertshauser

The following guidelines will help your 4-H group fulfill its responsibilities for properly handling public funds.

Enterprise budgets provide invaluable information regarding individual enterprises on the farm. This tool enables the farm manager to make decisions regarding enterprises and plan for the coming production year. The enterprise budget uses farm revenue, variable cost, fixed cost and net income to provide a clear picture of the financial health of each farm enterprise. The 2008 Maryland enterprise budgets were developed using average yields and estimated input cost based upon producer and farm supplier data. The figures presented are averages and vary greatly from one farm to the other. It is therefore crucial to input actual farm data to complete enterprise budgets for your farm.

Authors: Michael Elonge

This publication revisits traditional household budgeting discussions in economics textbooks during 1970 and 1980; notably, Paul Samuelson (1976) to derive a basic framework, a 3-step approach for community educators to teach limited income consumers how to budget their incomes. This basic framework construes budgeting in a narrow sense that enable limited income consumers to Estimate, Evaluate and Allocate income to goods and services with the intention to acquire savings.