Farm and Finance

corn sunset

QuickBooks: A powerful tool for your financial farm reporting and managing needs

An integral part of managing a farm operation or a business of any type is making sure the financial software being used best fits your needs. There are many options available in today’s marketplace, Peachtree and Xero are two we see often and are proficient in here at Holbrook & Manter, CPAs, but Intuit QuickBooks [...]

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Ag Credit/Country Mortgages opens new Mt. Gilead facility

Ag Credit/Country Mortgages, an agricultural lending cooperative serving farmers and rural residents and agribusinesses in northern Ohio, has moved their Mt. Gilead branch to 5362 US Hwy. 42 in Mt. Gilead. The move was made official with a ribbon cutting ceremony and open house on September 16, 2015. “We’re looking forward to serving our community [...]

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Business or hobby? It matters for farm taxes

Is your farm operation a bona fide business or more of a hobby? There is a difference in the eyes of the IRS and knowing how to classify your entity is crucial when it comes to your taxes. It affects the way taxes are filed and what can be deducted. Determining if an activity is [...]

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Corn from road

Understanding eminent domain

Construction is all around us. Expansion projects, improvement efforts, new buildings taking shape — these types of things have become the norm. While we all want better infrastructure, the inconvenience of orange barrels can be dreadful. Bring on some additional dread when projects have a more personal impact and they come at the expense of [...]

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Where to start on succession planning

Another article about succession planning — you probably feel like you’ve read them all. Although always presented with the best of intentions, you may feel as though many of the pieces you come across are littered with warnings about what may or may not happen if you don’t have all of your financial affairs in order. [...]

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money

Understanding the benefits of health reimbursement arrangements

It’s no secret that a spotlight has been on our country’s healthcare system for some time now — and a bright one at that. Health insurance options and expenditures are a real concern for agribusiness owners and it’s hard to know what options will best fit the needs of your operation. Rest assured there are [...]

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Case IH Announces Certified Pre-Owned Program

To lease or to buy?

Equipment is the lifeblood of any farming operation. Luckily, there are many different ways for farmers to obtain the machinery they need, with an operating lease and purchasing being two of the most popular options. But which option is right for you? There are pros and cons associated with each route and here we take [...]

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money

A good accountant: A more important resource than you think

As everyone involved in agribusiness knows, this industry is ever-changing. Whether you are a farmer or a supplier, the cyclical ups and downs of this business are unavoidable. It’s important to know how to adapt to changes in the economy, markets, customers, competition, technology, regulations, taxes…the list goes on and on. Adapting is easier to [...]

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soybeans

Buy high, sell low…. Really?

Buy low, sell high. That is always the ideal scenario. Traditionally that is what your investment advisors and accountants tell you. But, if you’re dealing with grain, things operate a little differently. In fact, in the case of grain elevators, ethanol plants, feed grinders, and more it’s not all about the purchase price. Rather, it’s [...]

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money

The ACA investment tax: How will it affect you?

A new tax as a part of the Affordable Care Act may mean you will owe more in taxes, and with tax season in full swing, now is the time to figure out just how much more you could be made to pay. The Health Care and Education Reconciliation Act has presented us the Net [...]

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