Tag: Dean Klippenstine

MYFB — Ep. 30: When and why to incorporate the farm

Perhaps more contentious than the buy versus rent debate is the question of when and why to incorporate the farm. The federal government proposed sweeping changes to how taxes were calculated for corporations last summer. The changes were met with significant push-back from the farm community, as the new rules would have a significant impact… Read more »

MYFB — Ep. 29: Putting together a solid farm business plan

No two farm business plans are identical. A young, aggressive producer focused on expanding likely needs a comprehensive business plan with detailed cash flow and business projections to satisfy investors and partners. On the other extreme, the business plan for an established farm with no children interested in taking over can be very simple —… Read more »

MYFB — Ep. 15: Joint Ventures, Mergers & Farm Marriages

In the past, farms looking to grow simply bought more land, but that’s not as easy as it used to be. Rising land prices are forcing producers to be creative in finding opportunities for growth, which in some cases leads to joint ventures, mergers and acquisitions — the topic of this episode of the Mind Your Farm Business podcast. “The… Read more »

MYFB — Ep. 8: Accrual Accounting as a Tool for Measuring Profitability

What comes to mind when you hear the term “accrual accounting?” Perhaps you flashback to filing your taxes last year when your accountant suggested switching to accrual accounting, but you’re weren’t sure what it meant and why it would be worth the hassle. Maybe your mind immediately goes elsewhere — what’s for supper tonight? Well, as dry as it may sound,… Read more »