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It is always good to prepare for the future.
The past year has given many people an unusual amount of time to observe. With the phrase “COVID-19” securely planted in our everyday vocabulary for the foreseeable future, limited contact with others has allowed for more time to examine how things have been done and how they can be improved.
This can be a busy time of year for many farmers and ranchers. Calving season may be in full swing, feeding and other chores are carried out in cold weather, and tax returns are completed and filed. In addition, there are a plethora of meetings, conferences and other educational opportunities.
I am 100% serious when I tell people that I learn more about QuickBooks from the people I teach than the classes themselves. Throughout my travels and conversations, I have found a few things that help me in my year-end tax planning that you may find useful as well.
“Elaine, I am feeling paralyzed and overwhelmed with this farm transfer thing.”“How do I talk to the kids without emotions running wild?”“We do fine until we try to get a sit-down family meeting with an agenda, then no one is really honest with what is going on here.”
What is common sense? Does common sense exist? The idea of common sense is that we all use the same sound judgment when making decisions. In other words, everyone else will do what seems obvious to you without being told or taught what to do.
“Riding for the brand” is a time-honored code used for more than 100 years by cowboys and ranchers as a symbol of the values and principles each ranch lived by.
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