Farm and Finance

Case IH Is the First Original Equipment Manufacturer to Offer a Proprietary Cellular

Crop insurance deferral considerations

As I have stated in other articles, weather here in Ohio can be quite fickle. While certain areas flourish, other areas can have poor production or be deemed disaster areas. Those not so lucky may have received crop insurance proceeds in 2015. If you did receive crop insurance proceeds, before you file your return, you [...]

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Farm income averaging can be a useful planning tool

As we all know too well, farming incomes can fluctuate from year to year depending on yields, market conditions, and of course in Ohio, the weather. In certain years a farmer could have large profits subject to higher tax rates and the following year have a loss or little profit that results in a minimal [...]

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Planning reminders for preparing 2015 tax returns

Tax planning is proving to be a bit more challenging than normal this year. Unless Congress acts, a number of popular deductions and credits expired at the end of 2014 and may not be available for 2015. The most popular deductions not available this year include, for example, generous bonus depreciation and expensing allowances for [...]

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Protect yourself: The important facts about identity theft

We generally dedicate our monthly article to covering financial topics that could, or already do effect business for farmers and agribusiness professionals. From tax issues to succession planning — we’ve covered everything you might expect from an accounting firm. But now, with tax season upon us, we want to shine a light on something more [...]

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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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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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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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