ISU Extension and Outreach Farm Management Specialists talk financial planning for farmers
In this week’s Iowa State University Extention and Outreach “Clippings” article, Farm Management Specialist Tim Christensen highlighted the importance of financial planning for farmers as harvest season winds down. Christensen said, “it is more important than ever to make sure we are communicating with our tax preparer and lender to make sure the decisions we make balance cash flow with tax liability. Not every decision we make to reduce our tax liability is a good business decision.”
KLEM talked to another ISU Extention Farm Management Specialist, Eric Weuve, who echoed a lot of what Christensen said in his article.
Overall stock prices took a dip yesterday, but Weuve stressed that short-term market trends shouldn’t be a cause for panic. Farm finances should still be managed with long-term goals in mind.
