Tax Preparation - Do You Have a Tax Strategy?

 

Ag Specific

Farming has its own unique piece of the tax code, which requires specific expertise.  Make sure your tax advisor understands agriculture.  We narrow our focus and maximize our efforts here in agriculture to provide you with the best possible advice.


Have a Plan 


There are enough surprises in agriculture without making taxes one too.  Working ahead and planning for taxes is better long term.  Work with an advisor who will help you build a tax strategy.

We come to your farm to help you with comprehensive tax planning.  Together we develop a strategy that gets you in your taxable income goal. 


Depreciation 


At the end of the year, there's the lure of buying iron to save on taxes.  A good advisor will help you work the numbers and understand if you're really winning when you buy at year end.  We dig deep into the data to help you save on taxes while still driving your business in the right direction financially.


Communication
 

Are you able to find your tax advisor in the off season?
  This is when you need help with a decision that has tax implications.  We talk to you all year long, not just in December.  We dig in and research so we can advise you on how your business decisions impact your tax strategy. 


Marketing
 


Tax work around commodity marketing is complex.  Are you getting the best help with this?  If you are marketing with Water Street Solutions, we do the commodity account tax work for you.  This includes segregating your trades, associating profit or loss by trade and filing them on the right form.  No more complex statements to wade through


Be Proactive
 


Some farmers bump into a situation where they want to retire and they have a pile of income with few deductions.  When you work ahead, you can integrate your legacy plan into your tax planning strategy.

We file returns for Corporations, S Corps, Partnerships, Individuals 

We file individual returns for 1099s for payments such as interest, custom hire or land rent filed in January, payroll, and W-2s for employees.

If you'd like to speak with a Water Street representative about your farm's taxes, send us an e-mail: info@waterstreet.org

 

About Water Street Solutions

Water Street Solutions helps farmers with profitability, using a business model that you won't find anywhere else. Experts in ag finance, crop insurance, commodity marketing and legacy planning work together on a plan tailored for your farm.

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Disclaimer

All opinions expressed in this website are solely those of Water Street Advisory. Client testimonials are not indicative of future performance or success. There is significant risk of loss involved in commodity futures and options trading and may not be suitable for all investors. You should always consider these risks and evaluate your suitability based on your financial condition.

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