Ag Producers

Professional Services Tailored for Ag Producers

Despite the challenges within the agricultural industry, having an experienced advisor on your team can help you focus on your daily demands and grow your operation.

Our knowledgeable and experienced advisors provide professional services for all aspects of agricultural operations. From agribusiness finance solutions, to succession planning, to wealth transition planning, we strive to cultivate success in all seasons of life.

Agribusiness Finance Solutions

Planning for success is easy with an agricultural finance specialist on your team. Having an advocate focused on your business and operations allows you to focus on successfully running the daily operations.

If you have a tight cash flow or debt to manage, trying to analyze all your financial statements can be a daunting task. To be prepared to communicate effectively with your business partners and ensure a successful operation, it's important to have a solid understanding of:

• Your financial statements and the surrounding terminology
• Key ratios and what they mean for your operation
• Important reporting requirements

If you're feeling pressured by your debt-to-asset position or are looking to better manage your cash flow for succession planning and retirement, you could benefit by working with an experienced Agribusiness Finance Specialist. Gaining a proper understanding of your financials and compliance requirements can help you better advocate for your operation and make important decisions with ease.

Family Succession & Transition Planning

You want to be assured you are leaving  your operation in good hands when it comes time for you to retire from the business. Having an established succession plan in advance will help make your transition an easy one—whether expected or unexpectedly.

Our agriculture professionals have worked on countless transitions over the years and are here to develop a plan that specifically meets your needs. We will provide independent, unbiased counseling to help you make the best decisions for your family's succession plan. We work side by side with you on the technical and emotional issues that come along in planning, which makes the transition process positive, smooth and fair for all parties involved.

It’s best not to delay this important element of your business planning. Having a well thought out succession plan in place will give you and your family peace of mind and will allow them to continue to operate seamlessly when it’s time for you to step away from the business.

Farm Service Agency Consulting

Have confidence in remaining compliant. Today's FSA compliance ensures tomorrow's financial security.

You put everything you have into your agricultural operation to make sure it runs smoothly, efficiently and cost-effectively. Don't let all the FSA regulations slow you down and impact your financial success. An understanding of which FSA programs are available and what payments you may qualify for should be a critical part of your planning.

By creating a customized system that includes bookkeeping, business records and tax treatment systems to support your FSA operating plan, we can help keep all of your operations working smarter for you. For 100 years, Eide Bailly has served farmers and ranchers to help them face regulation challenges and adapt to an ever-changing industry. We will work with you to reach your goals and focus on all aspects of your operation, from planting to harvest and everything in between.

Financial Planning

You dream of what life will be like when it becomes more than just work. Having a financial plan can mean the difference between imagining your dream or living it.

Comprehensive financial planning is:

• Building wealth through a process, not a product.
• Holistic in considering how your planning relates to your core values.
• Focused on your entire financial life.
• Long-range and flexible.

If you aim to build and preserve wealth, it is more than just picking investments. You need to carefully strategize to minimize taxes, while adjusting tactics to align with your personal risk tolerance and changing market climates.

Comprehensive financial planning is at the core of Eide Bailly Financial Services. Our team approach includes professionals with expertise in tax, estate and valuation. We'll work closely with you to define and prioritize your goals, then explore strategies and solutions designed to achieve each goal. This ongoing and flexible process will allow you to move through the seasons of life with peace of mind and confidence you'll achieve your dreams.

Income Tax Planning & Preparation

With the right planning and preparation, you can ensure a secure future. You know what your income was last year, but it’s hard to anticipate what next year might entail. In order to plan sufficiently, you must ask yourself some tough questions. Are you looking to expand your operation, or are you looking to slow down and start thinking about retirement? The answers to these questions, as well as many other possible scenarios, can greatly affect your tax plan.

Working with an experienced agricultural tax professional to review your current statements, address the future and develop a plan that meets your financial goals can help you feel confident about the future. We have served agricultural producers since 1917. Our dedicated professionals have the knowledge to assist you with managing your tax liability, tax flow analysis, FSA requirements and more.

Lease/Buy Analysis

Equipment is one of the largest investments you make for your operation. When you're deciding if you'll lease or buy, it's wise to carefully consider your options with the guidance from one of our ag producer advisors who will conduct a lease/buy analysis.

We have a long history of helping farmers and ranchers and understand that big purchases also come with big concerns. You’ll benefit from our customized approach to evaluate which option is the most beneficial and cost-effective for your specific operation.

Monthly Computerized Bookkeeping

With a professional handling the numbers, you can focus on your daily operations. Bookkeeping is detailed, time-consuming work, and usually lands at the bottom of your to-do list. Procrastination can lead to missed entries and costly mistakes.

By setting up a monthly bookkeeping system and creating a detailed balance sheet and income statement, you can keep all of your financial records and other important documents in order including:

• Crops
• Livestock
• Monthly Bank Statements
• Loan Activity Statements
• Asset Purchase Agreements

Your time is better spent on what's important to you, and typically that's not spent behind a desk. Our agricultural professionals provide monthly bookkeeping services that can be used internally and externally as needed for your operation.

Specialized Farm Income Tax Consulting

Tax planning is an essential part of your operation and one that can change as often as tax laws do. If you do tax planning throughout the year, it will prepare you for a less stressful year-end.
Working with a tax professional can help you achieve tax compliance, reporting requirements, and manage your taxes proactively as changes occur. By minimizing your tax liability, you'll eliminate some of the unnecessary stress.

Our agricultural tax advisors are experienced with specialized farm income tax planning and have been working with ag producers for over 50 years. By maintaining contact with you throughout the year, we can ensure your business needs are being met and that you stay compliant with necessary reporting requirements that may arise.

Wealth Transition Services

Setting up a comprehensive estate plan can help you plan for the future, while feeling at peace knowing you’ve covered all your bases. We can help you achieve your dreams and goals related to your wealth and estate with our holistic approach to estate planning.

As an ag producer, you likely have different objectives throughout your life, such as:

• Retirement plans
• Charitable giving goals
• Ensuring your family is taken care of

Each of these areas come with its own unique concerns and needs, and addressing them can seem like a big project. You may even be stuck on how to identify your goals in the first place. If you're looking for ideas, opportunities and customized solutions, a review or the creation of an estate plan could be your next step.

Our professionals will work with you every step of the way to develop a plan that accomplishes your goals. We can help you identify and prioritize your objectives, determine available wealth, plan for success, and value and position your assets to maximize their contribution to your goals. Our holistic approach involves tax professionals, financial advisors, business advisors, estate planners and business valuation analysts who can help you meet your estate planning needs.

Whether you would like to have your current estate plan reviewed or you need to develop a new one, our agricultural wealth transition advisors can provide the guidance you need to accomplish your goals.