The Internal Revenue Service is offering tax relief for farmers and ranchers in Ohio and other regions who sold or exchanged livestock because of drought conditions. The guidance outlines ways farmers and ranchers may take more time to replace their livestock and defer tax on any gains from the forced sales or exchanges. Click below … Continued
H&M Principal Brian Ravencraft was a guest on the American Family Farmer podcast. Hosted by family farmer, Doug Stephens, the podcast serves independent farm owners as well as hobby farmers. The episode Brian takes part in focuses on recent news and tax help for farmers. Listen to the podcast here, with Brian being introduced around … Continued
Successful farming requires sound financial management, and with the complexities of modern agriculture, this can be challenging. From tracking expenses like feed and fertilizer to managing payroll or even predicting future cash flow, accounting plays a crucial role in running a profitable farm. But the big question is—should farmers use accounting software to handle it … Continued
The Internal Revenue Service has issued guidance providing tax relief for farmers and ranchers in a41 states and other regions forced to sell or exchange livestock because of drought conditions. We invite you to read this important information on the IRS website at the link below. Please reach out to Holbrook & Manter with question … Continued
We are proud to announce that Agri-Accounting Services, LLC is now a part of Holbrook & Manter. Agri-Accounting Services, LLC has a rich history in serving agribusiness owners and farmers across the State of Ohio and beyond. The merging of the two operations will give current and future clients the chance to work with a … Continued
The Ohio Department of Agriculture has declared twenty-two Ohio counties natural disaster areas due to the on-going dry conditions plaguing the buckeye state. This declaration allows the United States Department of Agriculture (USDA) and the Farm Service Agency (FSA) to offer emergency assistance to farm operations within these counties. Other designated areas in Ohio and … Continued
Running a farm comes with its unique set of financial challenges. Managing cash flow effectively is essential to keep operations smooth and profitable. Here are ten practical strategies to help farmers and agricultural business owners improve their cash flow. 1. Diversify Your Crops Planting a variety of crops can reduce your risk of loss due … Continued
Succession planning is arguably one of the most critical, yet often overlooked aspects of family farming and agribusiness. With the future of farming resting on resilient shoulders, the transition from one generation to the next requires careful, strategic, and thoughtful preparation. For family farmers and agribusiness owners, understanding best practices in succession planning is the … Continued
If you are a famer or a fisher who did not make estimated tax payments by January, then you will want to review the important information from the IRS at the link below. Those that did not make estimated payments must generally file their 2023 federal income tax return and pay all taxes due by … Continued
Any farmer will tell you that farming is more than just getting your hands dirty in the fields and taking care of livestock. It is also a business, and like any other business, it needs to be managed effectively to be successful. For this reason, farmers need a CPA to help them with financial management, … Continued