Planning for your ranch’s succession ensures the legacy you want to leave for your land. Here are seven steps to consider.
Noble Rancher Articles
Rancher owners should consider the pros and cons of various business structures for their agriculture operations.
Why is capturing data important? It allows us to measure what we manage and validate the value of change.
A balance sheet is a very useful tool for ranchers to see their financial progress over time. In this article, we’ll take a look at two other financial statements that can help you understand the financial health of your business. Together, these three statements provide powerful insight.
The balance sheet is a document that lists the value of all assets owned and all liabilities owed by an entity at a particular point in time. It is also referred to as a financial statement, a statement of equity and a net worth statement.
It is estimated that over the next five years, approximately 10 percent of the nation’s lands will transition.
When it comes to your farm or ranch, nobody knows the operation like you. You know how many acres you’re operating, and you have inventories on all your commodities. Hopefully, you even know what assets and liabilities you have by taking a quick look at your net worth statement. But what steps have you taken when it comes to managing for taxes or assessing legal risks? By reviewing your operation’s business structure, you may find creating a business entity could provide your operation with added benefits.
Successfully managing a farm business is certainly the goal of farm owners. The quality of the decisions made by management is an important component in determining the longevity of the business.