Winter is an ideal time to revamp farm financial record keeping, leading to better business decisions and a less stressful tax season in 2026.
Tag Archives farm finances
Winter downtime: Get your farm records together
Winter is an ideal time to revamp your farm’s financial record keeping, leading to better business decisions and a less stressful tax season
Are farm finances on a slippery slope?
Canadian agriculture’s balance sheet is strong, but eroding margins and rising costs may temper producers’ optimism
At the end of 2017, Canadian farm debt topped $100 billion. At the time, it was a bigger number than the national debt of 135 countries, noted Country Guide columnist Gerald Pilger. The climb hasn’t stopped. The figure rose steadily since crossing the $100-billion threshold. As of 2022, the most recent year on Statistics Canada’s
Don’t get beat up by taxes this year
Running down best practices and common misconceptions for this tax season
Tax season is back and experts say there are a few things farmers should consider as they prepare their 2023 returns. Understanding the implications of certain business activities can reduce tax amounts. For farms that run as corporations, Dec. 31, 2023, was the last day for the temporary immediate expensing option. This program allows corporations
You’re ready to roll for spring. Is your financial strategy?
SPRING Farmers face tighter margins as commodity prices plunge and input costs hold firm
Commodity prices are at least a third lower than last year and input prices are stubbornly high, so farmers will need a spring strategy to squeeze every dollar from every acre, experts warn. “There’s going to be pressure on the margins for pretty much most of the crops that we grow in Manitoba and acrossCyber-Savvy Farmer
