By Jamie Martin
Running a farm or ranch today requires more than just working in the field. Financial knowledge is just as important as knowing when to plant or harvest. Good business planning helps farmers succeed.
The University of Florida Institute of Food and Agricultural Sciences (UF/IFAS) is offering a free workshop on August 7. The event will be held at the UF/IFAS Extension office in Miami-Dade County.
The workshop is called “Business Planning and Tax Management for Farmers & Ranchers.” It is a team effort with Texas A&M and Agricultural Finance, Tax, and Asset Protection. It is open to farmers, ranchers, and anyone working in agribusiness.
The training will cover a variety of important topics, including how to manage farm finances, understand tax obligations, and meet loan application needs. One special focus is on preparing participants to qualify for U.S. Department of Agriculture (USDA) loans.
The USDA’s Farm Service Agency (FSA) often requires financial training for its loan programs. Attending this workshop fulfills that requirement, making it easier for current borrowers to stay in good standing and new applicants to get approved.
Experts at the workshop will also teach how to create balance sheets, understand income reports, and use these tools to improve decision-making. The goal is to help farmers and ranchers become stronger business owners.
The workshop is free, and everyone in the agriculture community is welcome. Participants are encouraged to register ahead of time to reserve their spot.
Photo Credit: istock-fangxianuo
Categories: National