As harvest wraps up, the next thing we typically turn our attention to is the tax planning that comes at the end of the year. Do you find that this time of year is the only time you really hear from your tax accountant? Or does your tax accountant check in with you periodically throughout the year to see what new developments have occurred on your farm?
If the latter, consider yourself fortunate. This is just the sort of interaction you should expect from the best tax accountants. Having a tax advisor with their finger on the financial pulse of your operation is an ideal situation. If they couple that level of interaction with up-to-date knowledge of all the frequently changing ag tax codes, you've got yourself a winner.
Darren Frye explains more about how to gauge the value of your tax accountant's contribution to the team, and the importance of doing so, in this week's Finance First post at FarmFutures.com.