When to Incorporate

When to Incorporate

When does it make sense to incorporate? Farmers, of all ages, are asking this question more and more as farm revenue steadily increases with rising commodity prices. But when is the right time? In this video, Colin compares the differences between being incorporating versus claiming farm revenue as personal income, from a cash flow and…

Farm Transition

What is fair?

In this video, Colin reviews the 2 extremes when it comes to taking care of your non-farming children. Option 1, leave the farm to your farm child, and whatever is left to your non-farming children. Option 2, split everything up evenly. The solutions to “What is Fair” usually lies somewhere in between.

Multiply your Capital Gains Exemption

Let’s Multiply Your Capital Gains Exemption

Let’s Multiply Your Capital Gains Exemption As a farmer, you have a lifetime exemption of one million dollar on the sale of farmland. If you exceed that amount, you could be looking at a large tax bill. Here is an option to increase your capital gains exemption. In this video, we will show two things. First, when no plan is in place and the ensuing tax bill. Second, how your tax bill may be substantially decreased with the aid of using this approach.…

Private Health Care Spending Accounts: How Can They Help Your Business?

An Educational Webinar presented by Colin Sabourin CFP, CIM, CAFA, and Pierre Normandeau CPA, CGA, IMPORTANT: This webinar is for business owners who are incorporated. In the presentation, Colin and Pierre go step by step through: ➡️How Private Health Care Spending Accounts work ➡️What qualifies as a medical expense ➡️Tax benefits for the corporation ➡️What…

Is Farmland a Good Investment?

My immediate response would be, who’s asking? An investor or a farmer? Because their goals for the farmland are completely different. Farmers have multiple reasons why farmland would be a good investment beyond simply looking at the rate of return. For this analysis, let’s look at it from the perspective of an investor. This could…