Lenders tend to put a lot of weight on the strength of the balance sheet and primarily appraise tangible assets to make our balance sheet flow. This helps to set sale prices and make lending work. 

Borrowing money to pay the bills? If that’s you, you are not alone. As a dairy consultant who helps farmers increase income and efficiencies and reduce their expenses, these are the phone calls that have been coming in recently as worries loom over what’s to come in 2023.

There’s a lot of buzz around renewable natural gas (RNG) as a means for dairy farmers to diversify revenue while improving their carbon footprints. For many operators, it can be a particularly attractive option, especially given the current market and economic conditions.

What sets successful dairies apart from the rest of the industry? According to agricultural economist Bruce Dehm, president of Dehm Associates LLC, there are four key indicators of success: efficient milk production, low or profitable cost per hundredweight, effective management, and financial stability/sufficient cash flow and equity.

Twenty-five miles inland from the Atlantic coast, along the Savannah River, you can still see the rise and fall of the ocean tide.

Many business owners and farmers often do not prepare their own federal tax forms due to the complexity of the tax laws. At the beginning of each year, farmers must review their recordkeeping, generate income and expense reports, capital asset purchases and sales lists, and meet with their tax professionals.