What is your plan?
I just finished up attending a two day seminar in our Minneapolis office with our company wide Agribusiness and Cooperative group. There is a ton of talent assembled in this group and it was great to get to know them better.
As I was attending one of the discussions I got a text with updated corn and bean prices and noticed the large increase in price for the day. My thought after seeing this is “what is your plan to take advantage of these prices”. Historically prices can set a high for corn and beans around this time of year.
They may not be at a high yet, but what is your plan to at least capture these prices so your overall price for the year does not go below it?
Paul Neiffer is a certified public accountant and business advisor specializing in income taxation, accounting services, and succession planning for farmers and agribusiness processors. Paul is a principal with CliftonLarsonAllen in Walla Walla, Washington, as well as a regular speaker at national conferences and contributor at agweb.com. Raised on a farm in central Washington, he has been immersed in the ag industry his entire life, including the last 30 years professionally. Paul and his wife purchase an 180 acre ranch in 2016 and enjoy keeping it full of animals.
Paul, I find your site very interesting and educational. I am a new member. My wife and I own a farm in Wisconsin and will be starting a pasture raised/finished beef operation and want to form an LLC. From a tax perspective, will we want to include the farm (land, house, etc) as part of the business or keep it seperate?
Thank you