In the financial world, your cash position is referred to as liquidity, i.e. your ability to pay your bills. Liquidity is important to any agricultural business, yet it may have a heightened significance depending on what you produce, how long it takes you to produce it and how it’s sold or marketed.
Agricultural businesses are subject to a variety of tax laws, deductions and requirements that may not be familiar to non-specialized advisers and tax preparers. This is what Farm Credit East’s tax specialists specialize in.
In the midst of an industry downturn, it’s important to have your financial and credit management plan in place to ensure continued success – waiting for a highly profitable year to recover finances is not a viable strategy. Learn eight tips that can help you plan for difficult market conditions before a “normal” cycle becomes a changed reality.