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Know your true cost of production with accrual accounting Is tax season the only time you know the full cost and revenue of your business? Many agricultural businesses use outdated and inaccurate accounting strategies that don’t give them the full picture of their financial health throughout the year – we’re here to make sure yours…
As the saying goes, good help is hard to find, and no where is this more true than the modern agriculture industry. The USDA College Graduate Employment Report found 39% of open agricultural jobs can’t be filled by graduating students. That means business owners and managers need to sharpen their skills at attracting and keeping…
For many agricultural businesses, winter is a time for catching up from the last growing season and preparing for the next. Start the new year off right with these five steps that will help make 2018 your best year yet: Get your taxes done Don’t put your taxes off till the last minute. With new…
Top ag tech predictions for 2018 and top tips from 2017 The end of the year is a time to look back at what was learned last year and to look ahead to what’s next. What changes did you make this year that saved you time and money? What opportunities are you exploring for next…
For some business owners, the Thanksgiving table won’t look much different than a board meeting. Running a business with your family can be deeply rewarding – but it can also mean unique challenges for operation management. Whether it’s a brand new venture or a company that’s been in the family for decades, every family-run business…
Small Business Checkup: Make sure you have the insurance you need You get physicals at the doctor’s office. Your car gets regular oil changes. What kind of checkups do you give your business? One important aspect of your business to regularly review is your insurance policies. Annual insurance checkups help protect your business from unexpected…
In the season of spending time with family and friends, year-end tax planning probably isn’t high on your holiday to-do list (perhaps it’s not even on the list yet!). While tax planning might not be the most exciting thing to do during the holiday season, it’s important to start tax planning as the year ends….
Now Gen owners of family businesses owe it to the Next Gen to start the discussion of how the transition will occur, how it will be paid for, and when it will occur. Original post By Julie Bogle, Partner – Smith & Gesteland, LLP I recently had the good fortune of spending a few hours…
Tips for successfully handing your farm over to next generation by Chelsea Johnson Transitioning your family farming operation to the next generation of owners can feel overwhelming at times. You may be considering questions like: Where do I start? Do I need a lawyer involved? How do I make sure the farm stays successful through…
