When your family farm grows, so do your challenges. And so does your need for specialized advice.
Understanding your costs by business segment. Bringing on employees beyond your own family members. Making sure you’re taking advantage of every available incentive. For family farms, running a successful and profitable operation gets much more challenging the more you grow.
As a producer of dairy, meat, grain or produce, growing things is what you do best. But as your own business evolves, it takes more time and effort to manage all the moving pieces, along with specialized knowledge of best practices and opportunities that can help ensure profitability and sustainable growth.
Schenck can provide the advice you need to grow your operations and your bottom line, so you can stay focused on growing your crops or livestock.
Gain a better understanding of your operation through better use of current software or recordkeeping.
As a farm grows, it becomes more important to understand the costs and contributions of your separate business units, such as grain, dairy and cattle. Schenck can help you better manage and budget for your business by:
- Updating accounting and recordkeeping practices to better meet the needs of the growing business
- Preparing custom financial statements and reports by business unit
- Recommending budgets and budgeting strategies by business unit and preparing budgets for bank loan needs
- Determining unit costs of production
- Advising on the best industry-specific software solutions to support the more sophisticated reporting needs of your business
Take advantage of incentives that can help you grow.
The Schenck team is committed to understanding the latest tax laws and making you aware of tax exemptions and credits that can improve your operation’s bottom line. Trust your advisors to:
- Help secure tax credits, including the Wisconsin agriculture credit
- Identify and leverage partnership opportunities that can result in tax savings
- Defer tax liability where possible and advisable
Plan for the future of your business.
Your business needs people to keep your operation growing both today and in the future. Your Schenck team will work with you on the human resources issues you face now while helping you determine the best way to transition your business to the next generation of owners.
Turn to your advisors for help with:
- Implementing effective HR strategies for hiring and retaining new people
- Understanding the implications of the Affordable Care Act
- Conducting estate planning and understanding the value of your business
- Succession planning needs