Farm Credit West: Notebook: Financial Tips

Do you need a consultant?

Sound management and tax planning are essential to make your assets work for you. Expansion and new enterprises take a lot of hard thought. Labor management is an increasingly critical issue. There are experts in the field that can help you understand the pros and cons of the most complex decisions you will ever make.

The following questions will help you determine if you need a consultant.

ARE YOU:	YES	NO
Making farm business transfers among family members?
Adapting farm partnerships or various corporate business arrangements to your particular operation?
Developing and rewarding good employees?
Merging resources with another farm?
Developing meaningful records to help in farm management decisions?
Planning the impact of farm investments and expansion?
Cash flow management and developing budgets?
Determining the profitability of various business enterprises?
Relocating to another farm?

Credit
     Loan or lease?
Management
     A closer look
     Loan officer
     Building a business plan
     Who needs a consultant?
Estate Planning
     13 Estate Planning Terms      Do you need a will?
     Estate planning tips
     Knowing your net worth
Appraisal
     Who needs an appraisal?
Taxes
     Alternative Minimum Tax