Farm Finance Package

What You Get:

  • Tax Returns
    • Personal form 1040 and required forms
    • Farm tax returns – schedule F or one pass-through entity
    • Includes federal, state, and local income tax returns
  • Tax Planning
    • Tax liability projection before end of year
    • Review and implement tax-saving strategies
  • Audit Defense
    • Response to letters and notices from tax authorities for tax year prepared
    • Representation in the event of a tax authority audit for tax year prepared
  • Annual 1099 Filing
    • Prepare and e-file 1099’s and mail out recipient copies
  • Monthly Bookkeeping Review
    • Review and adjust your accounting records to prepare accurate tax returns and financial analyses
  • Quarterly Farm Financial Analysis
    • Analyze farm financial position and liquidity ratios through FINPACK (credit analysis software)
  • QuickBooks Online & FINPACK Subscription
    • Access to cloud accounting and financial analysis software
  • Annual Farm Production Cost Analysis
    • Prepare and discuss a cost of production analysis using our custom-built software
  • Annual Personal Financial Plan

How You Get It:

  • Q1 Meeting – Tax Preparation
    • Meet before tax preparation begins to gather information or after returns are complete to review results
  • Q2 Meeting – Financial Planning
    • Gather information and discuss financial goals and needs
  • Q3 Meeting – Financial Planning Follow-Up
    • Follow up on progress, recommendations, and questions
  • Q4 Meeting – Tax Planning
    • Plan for upcoming tax season by projecting tax liability and discussing moves to be made before year end
  • Monthly Bookkeeping Check-In and Quarterly Farm Financial Analysis by Phone or Video Conference
    • Connect to discuss results of bookkeeping review and financial analysis
  • Consultation Throughout the Year as Needed
    • Call or email any time with questions related to your tax and accounting engagement