There are two main strategies farmers use to grow their operation. One is buying farmland; the other is renting it.
Farmers don’t want to lose their operation because the cash rent’s too high and they’re not making money. That is, they don’t want the ship they’ve chosen to ride to sink in the middle of the sea. If you can relate to that feeling, take it easy.
Today James and Scott give you four steps that will help you manage your cash rent and set you up to improve its profitability.
Farmers hate having tax liability and will usually go to great lengths to avoid it. Sometimes though, in their attempts to offset income, farmers complicate the situation by using ill advised practices.
In today's episode James and Scott discuss how to effectively and responsibly deal with tax liabilities in a responsible and fiscally sound way.