Its nearly June 30 and madly around the country all sorts of businesses including ones like our own and Farm businesses are finishing off some tax planning activities prior to “Year End” as those in Accounting and Finance tend to call it.
Isn’t it amazing how much you get done when there is a deadline looming.
Imagine if there was an annual deadline for Farm Succession Progress. Imagine needing to put your Farm Succession Return in each year for assessment by the Foundation of Fabulous Family Farming.
How would you go?
Farm Succession is more than formal structures, land transfers, tax implications. It is about ensuring that the business and the family dynamics remain functional and that unresolved tensions don’t blow things up at either a family level, a farm level or both.
Try this check list. If you can tick these boxes, the FFFF are sure to give you a glowing report.
Stay safe. Farm well.