On family farms, especially multi-generational operations, being open about finances isn’t just good practice — it’s essential for business survival and harmonious relationships, Alyssa Brown writes.
Tag Archives financial management
Farm families gain clarity from financial transparency
Farm Family Coach: It doesn’t mean having to share every personal expense or do away with clear boundaries in leadership
To debt, or not to debt?
As we head further into 2025, will more debt be essential for a farm’s success?
Glacier FarmMedia — There are many pressures on the agriculture industry and its individual businesses. Our farms are expected to do more at every turn. Every sector is feeling the effects of those expectations. And you don’t need to go far to find a farmer who will tell you the cost underpinning all the programs, […] Read more
Practical strategies to stay financially organized on your farm
Seeds of Encouragement: Managing the farm’s day-to-day is one thing; keeping its books up to date is quite another
Elaine writes: It’s a new year and time for a fresh start in getting your important farm details in order. Alyssa Brown, CPA, from Olds, Alta., is part of our coaching team. She grew up on the farm and now advises farmers how to make life better. Here’s her encouragement to you at the start […] Read more
How we choose highly profitable companies at reasonable valuations
Investing for Fun & Profit: It's both an art and a science -- but mostly science
In previous articles I’ve frequently mentioned the importance of selecting highly profitable companies at reasonable valuations. I’d like to illustrate with a real-life example of a switch I made in our tax-free savings accounts (TFSAs) at the start of the year. Our TFSA performance has lagged recently even though since inception they are still running […] Read more
Stock market and economic outlook
Why aren’t we listening to Warren Buffett?
Warren Buffett is one of the best investors the world has ever seen. One of his most famous quotes is, “Be fearful when others are greedy, and greedy when others are fearful,” which aligns with the direction of my thoughts for the coming year. By the time you read this, some of the predictions may […] Read more
Froese: Help! My parents have loads of debt we don’t want!
If your attitudes towards debt are very different from your parents, do you really want to be business partners with them?
Every front door looks beautiful” is one of my favourite Irish sayings. It came to mind in Deadwood, South Dakota, the Black Hills where I was listening to the woes of a young ranch couple. They have a strong desire to ranch as “debt free” as possible, but her parents, the owners are stuck on […] Read more
From a private business to the family corporation
What’s left after harvest depends on how the farm is organized and taxed
The idea of the family farm is just that — a concept. The reality is that tax rules, inheritance law, good business practice and the fundamental problem of making a living have changed the family farm from a private business to the family corporation. Organization and tax rules are now almost as important as farm […] Read more
A tax strategy for a retiree who inherits a farm
Farm Financial Planner: Opportunities to make money and save tax
In south-central Manitoba, a man we’ll call Ronnie, 57, lives on a 640-acre farm he inherited from his late parents. He’s never farmed and has no interest in swapping careers from the office work he did before retiring a few years ago. His plan is to sell the farm within three years and build a […] Read more
A step-by-step guide to get control of your farm finances
Understand the 4E money strategy and the nine key drivers that affect financial wellness
According to surveys completed by FP Canada in 2014, 2018 and 2020, one factor consistently causes the most stress for the most Canadians. As you can probably guess, that factor is money, outranking other top stress factors like personal health, work and relationships by wide margins. Why it matters: The most important financial decisions are […] Read more
Editor’s Column: Our lines of defence during the COVID-19 pandemic
As we settle into fall, the reality of living with the COVID-19 pandemic long term is hitting home for all of us. The pandemic has changed how we work, how we connect and even how we celebrate a festive event or grieve a loss. We are having to adapt. Many of us are searching for […] Read more
Cyber-Savvy Farmer
