Farm Credit East offers various financing options, including leasing. A lease may be a beneficial option to preserve operating capital, especially when taking on a new project or making a large purchase.
Solar panels are increasingly popping up across the Northeast. Some are being placed on top of existing homes, barns or other structures, while others are filling up vacant fields. If you’re considering solar panels for your operation, there are a number of things to consider – including how they may impact your tax return.
Why think long-term with tax planning? A lot of life events — things like marriage, buying a home, starting a new business venture, and the three “Big Ds”: Death, divorce and disability — can have major implications to your tax liability. Planning for these types of life events, which can cause a major change in how your business is owned or operated, can help prevent a dramatic shift in tax liability down the road.
Record-keeping is important to every agricultural operation. Beyond tax compliance purposes, a solid record-keeping strategy can keep you from incurring increased costs from tax penalties and reveal ways to become more profitable.