What’s the difference between companies with strong succession plans versus those without? This may sound like the set up for a joke. But the punchline
Is your business ready for a management or leadership transition? If your operations manager resigned tomorrow, would you have a plan – or would you
Leadership transitions are inevitable in manufacturing — whether driven by planned retirement, a role change, or an unexpected event. What distinguishes a smooth transition from
When there’s no obvious next generation to take over, how do you ensure your operation will continue to prosper after you’ve worked your final season?
Over the next 20 years, ownership of 40% of U.S. agricultural land is expected to change hands. This gap creates one of agriculture’s biggest challenges:
If you sell, rent, or service heavy equipment, the One Big Beautiful Bill Act (OBBBA) just rewrote a big part of your tax playbook. This
Congress recently passed a $3.4 trillion fiscal package that delivers a mix of tax cuts, farm support, and biofuel incentives. Signed into law by President
As a business owner, you likely spend most of your days – and many of your nights – thinking about the daily operations of your
Whether your leadership transition is months or years away, there are crucial steps you can take now to prepare for a successful outcome. But successful
For many of you the stress of harvest season is over and now you enter a new season in family business: the holidays! As if
The estate tax exemption doesn’t sunset until the end of 2025. So why worry about it now? Unfortunately, this historically high estate and gift tax
A quick Google search for “how to increase business wealth” will yield thousands of ideas. Some are worth as much as they cost, some promise
By Jeanne Bernick, Certified Family Business Advisor For many of you, the stress of harvest season is over and now you enter a new season
6 in 10 Americans have a retirement account, while only 1 in 3 have an estate plan. While the majority of Americans see the importance
Ask any successful family business leader “What is your most important accomplishment?” The overwhelming response is: ‘my legacy’. And yet, only one in six have
Proactive planning for the long-term future of your business gives it staying power. The surest way to secure the legacy of a business is to
Ten thousand Baby Boomers retire daily. Yet only 21% of organizations report having a formal plan for succession in place. Time and time again, not
By Jeanne Bernick, Certified Family Business Advisor For many of you the stress of harvest season is over and now you enter a new season
While inflation continues to burden Americans with higher prices on what seems like everything, the IRS has released some good news for taxpayers. In October,
A multi-generational (six-generation) agriculture business that had been passed down from parents to their three sons engaged a succession planning expert. The three sons were
Changes in land ownership and the farming workforce are unfolding across U.S. agriculture. Among key drivers, of course, is the aging population of American farmers
With the buzz around Washington, D.C. about the looming tax changes ahead, estate planning is on top of the list to have the most potential
No matter what the presidential outcome, there was never any question that the outlook for estate tax planning would be different in 2021. How much
Agricultural businesses have withstood their fair share of COVID disruption – from family life to the workplace. While this has forced financial strain, labor disruptions,
While production agriculture is no stranger to facing adversity and adaptation, no one could argue that the Economic Disruption caused by the COVID-19 pandemic has
While the unsettling times are forcing businesses to rethink strategy, business advisors are steadfast surrounding one key advantage for owners that should not be overlooked:
In life, there’s an easy way or a hard way to do most things. There are countless examples of this in agriculture, and farmers are
“Joining forces with another farm can increase efficiencies or offer opportunities of scale,” advises Maxson Irsik of K·Coe Isom. The Benefits of Mergers, Joint Ventures
With most farmers or ranchers spending an average of 50 years or more on their farms – where land is both a lifestyle and legacy
When it comes to protecting what matters most for the long term – assuring a legacy, enriching a nest egg – business owners need to
It’s inevitable. One day, you will step down from running your business. The timing and transition for when and to whom you relinquish control are
Weak commodity prices and an international trade war have inflicted pain on American agriculture – at a time when U.S. farmers, ranchers and agribusinesses can
As the 2017 tax reform has made extensive changes affecting your income tax returns in 2018, we wanted to take a moment to: explain how
The Senate Agriculture Committee is moving forward with the 2018 Farm Bill Revival in a reportedly ‘bipartisan’ fashion and has released its draft of the
Exemption for Your Estate Plan is Ripe for the Picking The Tax Cuts and Jobs Act of 2017 made one significant change for estate planning:
Will the Farm Bill Pass in the House? In a continued effort to secure support for the farm bill, set to expire in September, House
Much has been written about the dangers of 50-50 business partnerships and how to avoid the problems they can bring, but what do you do
