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Accounting & Taxes

The perks of organizing your farm payroll

https://www.fcc-fac.ca/en/knowledge/the-perks-of-organizing-your-farm-payroll.html

Learn how an organized farm payroll can be a positive for both producers and employees.

5 top income tax tips put to work on the farm

https://www.fcc-fac.ca/en/knowledge/5-top-income-tax-tips-put-to-work-on-the-farm.html

Tax season is around the corner. Here are five income tax tips for the farm to help get you ahead of the curve.

Farm tax planning: the basics

https://www.fcc-fac.ca/en/knowledge/farm-tax-planning-the-basics.html

Tax planning can be complicated and while professional advice is vital, it’s also important to understand some basic tax principles for your operation.

Using statements and ratios to assess financial success

https://www.fcc-fac.ca/en/knowledge/using-statements-and-ratios-to-assess-financial-success.html

Learn about the 3 financial statements and 5 ratios every farmer needs to assess the health of their operation’s bottom line.

Income-smoothing and other tax strategies

https://www.fcc-fac.ca/en/knowledge/income-smoothing-and-other-tax-strategies.html

Business strategies and structures change – and so should tax plans, say tax experts.

Beat the blues of seasonal cash crunch

https://www.fcc-fac.ca/en/knowledge/beat-the-blues-of-seasonal-cash-crunch.html

January can be a financially tough on the farm as the post-holiday crunch is a time of high expenses and tight income.

Making digital farm data work for you

https://www.fcc-fac.ca/en/knowledge/making-digital-farm-data-work-for-you.html

With the days of financial bookkeeping, livestock record keeping and writing crop input data on paper quickly disappearing, it's essential to keep up with the digital times.

How to make – and stick to – a business budget

https://www.fcc-fac.ca/en/knowledge/how-to-make-and-stick-to-a-business-budget.html

When it comes to budgeting for farm businesses, financial advisors say greater adaptability in managing variable income, carefully consideration of what constitutes a true farm expense and financial clarity can all go a long way.

How to avoid common year-end tax mistakes

https://www.fcc-fac.ca/en/knowledge/how-to-avoid-common-year-end-tax-mistakes.html

What are some common mistakes farmers make at year-end, and how can they be avoided?

Incorporating the farm: Here’s what to expect

https://www.fcc-fac.ca/en/knowledge/incorporating-the-farm-heres-what-to-expect.html

Making the jump from a sole proprietorship farming operation to a corporation brings with it several advantages, along with some additional management responsibilities.