May is Mental Health Awareness Month, which is a good time to check in on your own mental wellbeing and that of your family, staff, and loved ones.
Today’s Harvest Blog
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In the context of farming business structures, acquiring a life insurance policy is a prevalent practice. Here are two common scenarios and an update on an ongoing Supreme Court case involving the IRS concerning the valuation of businesses when insurance payouts are implicated and whether such proceeds are deemed liabilities or not.
April 11, 2024
Today's Harvest Blog
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Crop insurance is one of the most important tools you can have in your proverbial “toolbox.” There are many types of policies that can be tailored to your operation and what you’re growing. Crop insurance can provide coverage on a variety of naturally occurring peril. And when one of these perils occurs, you need to know how and when to file a claim.
September 26, 2022
Managing a successful dairy farm means managing a lot of information. One of the things we work with clients on is collecting numbers from your farm, comparing those metrics to industry aggregates, and helping producers understand what that comparison means. Learn the nine numbers we talk to our consulting clients about.
September 12, 2022
In the last Tax Talks, “Tax Strategies for 2022: Understanding Your Tax Liability,” we began to understand the importance of record keeping and tax planning early in the year. In today’s blog, we’ll continue to build upon that foundation as we discuss tax planning for cash basis reporting.
September 06, 2022
Have you started tax planning for 2022? First and foremost, you need to have a good record keeping system in place to accurately detail your farm income and expenses. If you wait until the dark, cold months of January and February to do your books for the year when there isn’t much else going on, you’re not going to have the opportunity to accurately tax plan.
August 31, 2022