Farming
Bank renewals depend on clean records. We maintain your financials year-round so you have the numbers to back up your operating line request.
The Industry
Agriculture runs on credit. You borrow against the harvest to buy the seed and feed the livestock. The relationship with your banker is just as important as the weather. If the bank can’t see a clean Balance Sheet, the operating line freezes up.
Most farmers keep the production records in their head and the receipts in the truck console. That works for planting, but it fails in February when the tax return is due or the loan officer needs an update.
Who This Covers
Who This Covers
Row crop operations, cattle ranchers, poultry farms, and local growers. Operations that deal with Schedule F tax filings and heavy equipment depreciation.
The Friction
The Friction
Separating personal life from farm business is difficult when you live on the job site. Fuel, utilities, and vehicle use get mixed together. Untangling that mess at the end of the year takes hours.
The Process
Assets need to be tracked, not just expensed. A new tractor or a barn improvement affects your taxes differently than buying diesel. We categorize expenses correctly throughout the year so the depreciation schedule stays accurate.
Loan reporting drives the schedule. Instead of a year-end panic, we keep the books current month-to-month. When the bank asks for a current position on assets and liabilities, you can email a PDF in five minutes.
Schedule F Readiness
Schedule F Readiness
Taxes for farmers are specific. Feed, fertilizer, vet bills, and chemical costs need to be sorted into the right buckets. We build the chart of accounts to match the tax return line-by-line.
Labor Tracking
Labor Tracking
Seasonal help and H-2A workers add complexity to payroll. We handle the compliance and the payments so you stay legal without burying yourself in paperwork during harvest.
Common Problems
The “shoebox method” kills tax planning. If you don’t know your net income until December 28th, you can’t make smart decisions about prepaying expenses or deferring income. You end up paying taxes you could have legally avoided.
Misclassifying repairs vs. improvements is another trap. Fixing a fence is an expense; building a new one is an asset. Getting that wrong triggers IRS scrutiny and messes up the balance sheet.
Commingling Funds
Commingling Funds
Using the farm account for groceries or the personal card for parts makes the books unreliable. We help establish clear boundaries so the business data stays pure.
Inventory Valuation
Inventory Valuation
Grain in the bin and cattle in the field have value. Ignoring inventory on the balance sheet makes the farm look less solvent than it actually is to a lender.
What Changes
The annual renewal meeting at the bank becomes routine. The lender sees professional reports that match their expectations. The conversation shifts from “can you afford this?” to “how do we finance the next expansion?”
Cost of production becomes clear. You know exactly what you have in an acre of soybeans or a head of cattle. Marketing decisions get based on your actual break-even point rather than market rumors.
Proactive Tax Strategy
Proactive Tax Strategy
Current books mean you can plan. In November, you can look at the projected profit and decide if you need to buy equipment or prepay seed to manage the tax bill.
Asset Clarity
Asset Clarity
You have a clean list of equipment and improvements. Insurance audits and loan collateral checks happen faster because the records are organized.
Full-Charge Bookkeeping for Mid-Mo's Businesses
The Next Step:
Get Your Quote
Tell us what you're dealing with. We'll listen, ask a few questions, and give you a straightforward price that meets your expectations.
