Today’s Harvest Blog

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.

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.

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. 

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.