Ag Advantage

Browse these helpful agricultural financial management resources.

Understanding Illinois 2017 Tax Legislation

Farm Finance, Farm taxes

Posted by Tera Schultz on Oct 19, 2017 3:30:51 PM

The tax package signed into law in Illinois this summer goes much further than the tax rate increase. While that increase is substantial, with rates raising from 3.75% to 4.95% for individuals and from 5.25% to 7% for corporations, other changes are significant.

Read More

Does Your Farm Software Provide Tax, Credit, and Management Information?

Farm Accounting, Farm Finance, Farm taxes, Farm Software

Posted by Becky Wedekind on Sep 13, 2017 8:05:00 AM

There are three primary uses of financial information:

Read More

How Do I Know If My Farm Needs Enterprise Resource Planning Software?

Farm Accounting, Farm Finance, Cost and Revenues

Posted by Harold Birch on Aug 24, 2017 12:00:00 PM

There are multiple things to consider when determining whether your farm needs an enterprise resource planning (ERP) solution. At the core is the question, “How is your farm meeting its obligations today?” This includes obligations to customers, employees, owners, outside entities such as banks, governmental agencies, and auditors, and other stakeholders.

Read More

Will Your Farm Secure Financing If 2017 Is a Tough Year?

Farm Accounting, Farm Finance

Posted by Brian Bennett on Jun 22, 2017 10:50:00 AM

Assumptions

How can we talk about whether your farm will be able to secure financing? In order to address this question, keeping in mind that it’s June 2017 at the time of this article’s publication, we’re making the following assumptions:

Read More

What Should My Farm Software Be Doing for Me?

Farm Accounting, Farm Finance

Posted by Val Maeker on May 30, 2017 8:40:00 AM

Farm software should give you the information you need to make major financial decisions.

Examples of major financial decisions for your family farm would include things like a large expansion of the operation, taking on a new partner, producing a new product or commodity, or adopting new technology. Does your current farm software identify strengths or weaknesses in your operation, allowing...

Read More

Agricultural Finance: Strategies for Refinancing

Farm Accounting, Farm Finance

Posted by Harold Birch on Jan 4, 2017 11:12:19 AM

Refinancing 101 – Understanding Agricultural Finance

Working capital (WC) is the biggest issue in farms failing. In challenging times, more than 90% of farms fail as a result of a lack working capital; meaning those farms are not able to stay in business long enough to realize a profit. Simply put, working capital equals current assets minus current liability. We want more current assets than...

Read More

Benchmarking for Your Ag-Business

Farm Accounting, Farm Finance

Posted by Sam Bachman on Sep 22, 2016 10:48:36 AM

Benchmarking has had its turn as the darling of the business press and the hot topic solution to all the woes a business faces. Thank goodness the days of it being oversold have passed.

Benchmarking provides a set of insights and perspectives to management teams that take the time to provide accurate information of sufficient detail. They also allow you to get through learning curves of the...

Read More