Tax-Free Savings Account Archives - Page 2 of 2

Farm Financial Planner: Manage assets for farm transition

Asset management solves the risk of heavy tax when couple shifts ownership to their son

By Andrew Allentuck June 6, 2016

In western Manitoba, a couple we’ll call Ezra, 58, and Lucy, 56, operate a third generation family farm with 1,280 acres of feed grains, oilseeds and a herd of 60 beef cows. The farm, with a value of $1.25 million plus $100,000 for the farm house, is profitable, but its future is clouded by the […] Read more

Columns

Farm Financial Planner: Building up those off-farm assets

With a big farm and few takers from the next generation, a couple focuses on off-farm assets

By Andrew Allentuck May 12, 2016

On a 4,000 acre farm in southWestern Manitoba, a couple we’ll call Herb, 56, and Lorie, 45, grow grains and raise 600 head of cattle. They have been successful over the years with Herb and his brother buying the family farm in equal shares. That buyout provided Herb’s parents with a retirement income and gave […] Read more

During the 10-year buyout of the farm, Sam and Ursula would have an annual income of almost $150,300.

Columns

Farm Financial Planner: Transition: two children, one farm

Sam and Ursula wan to pass the farm onto their son, but share the wealth with their daughter

By Andrew Allentuck April 18, 2016

A farmer we’ll call Sam, 62, and his wife Ursula, 59, farm 10 quarters of grain in central Saskatchewan. Helped by their son, Ernie, and his wife, Maria, both 35, they have developed a very successful operation. The farm generates an average of $175,000 a year and the couple operates equipment for roadwork, snow plowing […] Read more

Columns

Keep farming for a lower tax bill

Keeping the farm operating will hold taxes down and maintain the farm legacy

By Andrew Allentuck May 19, 2015

Farming has been good to a couple we’ll call Horace, 50, and Betsy, 40. Their 3,500-acre grain operation has been consistently profitable. Now they want to plan their retirement and succession, but it’s too early to tell if their daughter, Moira, 10, will be interested in continuing to farm. The couple plan to stay with […] Read more

Columns

Keep the money in the family

Farm Financial Planner: Family finds way to transfer financial gains from farming on to the next generation

By Andrew Allentuck December 17, 2014

A couple we’ll call Jack and Mary Walrosser, 35 and 34, used to farm with Jack’s family in central Manitoba. Jack’s father Harold and Harold’s wife Beatrice, both age 61, farm 960 acres of pasture and oilseeds. Life has had its challenges. Harold had contracts to produce pregnant mare’s urine for the pharmaceutical industry. Those […] Read more

U.S. grains: Corn rebounds from contract lows on short covering, bargain buying

U.S. livestock: Cattle futures come down from highs

Entomologist tests trap crops and marigolds to repel flea beetles at an Ag in Motion

GFM Network News

U.S. grains: Corn rebounds from contract lows on short covering, bargain buying

U.S. livestock: Cattle futures come down from highs

Entomologist tests trap crops and marigolds to repel flea beetles at an Ag in Motion

Tag Archives Tax-Free Savings Account

Farm Financial Planner: Manage assets for farm transition

Farm Financial Planner: Building up those off-farm assets

Farm Financial Planner: Transition: two children, one farm

Keep farming for a lower tax bill

Keep the money in the family

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