Tax Planning & Preparation - Agriculture


Tax Planning & Preparation - agriculture


  • Dairy
  • Grain Crops-Corn, Soybeans, etc.
  • Beef
  • Sheep
  • Perennials/Florals
  • Trees
  • Timber/Logs
  • Vines
  • Special Crops-cranberries, mint, etc.
  • Swine
  • Cooperatives
  • Game Operations
  • And various other agricultural operations

Challenges of Agriculture Accounting

Agriculture is an industry with very specific and challenging needs. Unfortunately, the accounting profession, the Internal Revenue Service and even some accountants themselves only have limited knowledge in the agriculture industry. Further, the accounting industry itself has provided only limited industry specific guidance for agricultural issues.

In our opinion, this doesn't make sense because the agriculture industry employs nearly 35% of the world's population; and, did you know, that a single farmer feeds approximately 140 of our world's people due to today's technological advancements in agriculture (this is mainly due to the invention of the tractor)?

Changes in Agriculture

A number of changes have taken place in agriculture that have increased the need for more complete and accurate farm financial information. These changes include increased volatility in net income (meaning fluctuations in operational expenses and fluctuations in market prices for products), increased complexity of the financial structure of farm operations and the accounting transactions, and more stringent loan review requirements for lenders.

Apel Associates, Inc. has responded to your farming and agricultural needs with educational programs, software packages and instruction, forms and various other tools to assist farmers in providing complete, detailed and accurate information. Further, we have aided many agricultural operations in establishing stronger entity structures through the use of Limited Liability Companies (LLCs), Partnerships and/or Corporations.

Everyone on our team has some link with agriculture. Our owner, Kari Apel, has over thirty years of experience; growing up and working on her family's dairy and crop farm in South West Wisconsin.

Please contact us by phone 608.643.2700 or by email if we can help you in any way.