Farm Business


Before buying or selling a farm, ask “Why?”

Posted on: January 24th, 2023 by Keith Starr, Chief Financial Strategist

Note: This is part one of a two-part blog series on buying or selling a farm. You want to buy or sell a farm. Before you push a “For Sale” sign into the ground or negotiate with the owner, make sure you’re doing it for the right reasons. We’ve advised many clients on how to […]

Don’t confuse money in the bank with profitability

Posted on: January 6th, 2023 by Keith Starr, Chief Financial Strategist

You look at the December bank statement. It shows a checking account larger than a year ago. You’ve had a profitable year, right? Not necessarily. Just because you have money in the bank does not mean you made money. It may seem strange, but profitability and money in the bank are two different things, even […]

Waiting to Act Only Exacerbates Financial Problems

Posted on: December 1st, 2022 by Ag & Business Legal Strategies

Farmer spouses who keep the operation’s books might not be spending long hours in the field or barn, but the time they devote to the financials can just as easily make or break the family business. The spouse manager must be proactive should they see expenses outpacing income. Debt can accumulate rapidly and could, if […]

Prices up, but some farmers in financial straits

Posted on: October 26th, 2022 by Ag & Business Legal Strategies

Commodity prices are trending higher, yet many farmers are struggling to pay their bills. The reasons are varied but could spell disaster if producers don’t get a handle on their finances. So say Joe Peiffer, founder and shareholder of Ag & Business Legal Strategies, and Keith Starr, the firm’s chief financial strategist, as they discuss […]

Death and Taxes is How We Lose It: The Importance of Succession Planning for American Agriculture

Posted on: February 24th, 2022 by Kate Langworthy, ABLS Blog Contributor

The hit TV show “Yellowstone” has achieved popularity with agricultural and non-agricultural audiences alike. Along with dramatized glimpses of ranching life, it also provides nuggets of truth with real world application. In a recent episode, while facilitating the sale of a family farm where one sibling couldn’t afford to buy the other out to retain […]

Choice of Business Entity for Farmers

Posted on: February 24th, 2022 by Michael A. Morris, ABLS Blog Contributor

The choice of business entity for a farm is an important decision that can either protect farm owners and their families from the risks inherent in the farming enterprise or expose them to those risks. Farmers employ various forms of business entity, and the choice varies greatly between types of farms and their sizes. Many […]