Farming and Agribusiness Accounting

Farming isn’t just a lifestyle — it’s a business. And in today’s economy, that business is under more pressure than ever. From unpredictable markets and tightening margins to regulatory landmines and seasonal cash flow crunches, agribusiness owners have their hands full. Add in labor shortages, evolving technology, and the need to plan for the next generation, and you’re wearing a lot of hats.

At Faw Casson, we understand that accounting for agriculture isn't just about tracking numbers — it’s about helping you grow your business while staying rooted in solid financial ground.

We Know the Terrain

You're not just managing crops or livestock — you're managing uncertainty, cash flow, and an endless to-do list. Whether you're running a family-owned poultry operation, managing a vineyard, or cultivating diversified produce, you need real-time financial insights to stay viable.

Common pain points we help solve:

Seasonal cash flow challenges – Timing income and expenses is crucial in a business that doesn’t get paid year-round.

Lack of reliable financial data – You can’t manage what you don’t measure.

High capital costs – Land, equipment, and inputs don’t come cheap.

Complex tax laws – Missed deductions and bad timing can cost thousands.

Business succession uncertainty – You’re thinking about legacy, but how do you get there?

We're here to help you tackle these issues head-on, with accounting that’s as hardworking as you are.

Specialized Agribusiness Accounting Services

Our team works with a wide range of agricultural clients including grain operations, poultry producers, oyster farms, vineyards, and livestock and crop growers. Whatever you grow or raise, we tailor financial strategies to fit your needs.

Services include:

Entity Structure Planning: Choosing the right business structure can save you time, taxes, and legal headaches down the road.

QuickBooks Setup & Training: Get your books in order with the right tools and guidance from certified pros.

Cash Flow Management: Plan for the lean months and make the most of the profitable ones with budgets and forecasts built around your farm’s cycles.

Inventory Management: Accurately track what goes in and what comes out — from seed and feed to harvest and headcount.

Tax Planning & Compliance: We help you navigate agricultural-specific tax breaks, depreciation strategies (hello, Section 179), and IRS changes.

Capital Asset Planning: Know when to buy, lease, upgrade, or sell equipment, and track depreciation like a pro.

Loan & Grant Guidance: Evaluate financing options and government programs without getting lost in the paperwork.

Subsidy Reporting: Keep things above board when it comes to government payments, so you don’t lose sleep — or funding.

Financial Reporting: Whether you need compiled, reviewed, or audited statements, we provide accurate and industry-specific financials that speak your language.

Succession & Estate Planning: Protect your legacy with a smart plan to pass on the land, the leadership, and the lessons.

Financial Growth Starts With the Right Habits

We get it — you're not in business to become a bookkeeper. But making time for accounting doesn’t just help at tax time — it shapes your entire operation.

Here’s how to start strong:

Keep records year-round, not just during tax season. Whether it’s you or your accountant doing the books, real-time data = smarter decisions.

Make financial tracking part of your routine. Software is only helpful if you actually use it — and use it often.

Watch your cash basis blind spots. Even if you file taxes on a cash basis, keep tabs on inventory, receivables, payables, and debt — otherwise you’ll be wondering where your money’s going.

Call your CPA before tax season, not during it. No one likes a surprise tax bill.

Know your workforce. Misclassifying employees vs. contractors can result in serious fines, especially in agriculture where seasonal help is common.

Plan for skills you don’t have yet. New income streams (like agritourism or online sales) might require tech, retail, or marketing savvy — build those costs into your strategy.

Why Choose Faw Casson?

We’re more than number crunchers. We’re strategic partners who know the unique ins and outs of agricultural finance. Our clients aren’t just clients — they’re legacy-builders. Families. Entrepreneurs. Stewards of the land. And we’re proud to help them thrive, generation after generation.

Let’s make your finances work as hard as you do.

Need to Know

Key Accounting Practices for your farming business

a. Keep good records from the beginning, whether you outsource / hire someone to do it, or do it yourself. You need to be able to access good financial information during the year, so you can assess how your business is doing in real time, and also when you take it to your CPA for tax planning.

b. Develop a system that works for you and make it habit. There are good software programs out there, but if you only update your information at the end of the year, you’ll never get good at it and it will be harder to build confidence in, or understand, the financial side of your business.

c. You may be able to file your taxes on the cash basis of accounting, but be sure to keep track of your receivables, payables, fixed assets and debt – those impact the overall health of your business, too, and can leave you wondering “where’s my $$ going”?

d. Talk to your CPA throughout the year. The tax laws change, and they don’t always mirror your cash flow, so without a good working relationship with your CPA, you’re bound to have “surprises” come tax season.

e. Do your homework on determining whether the people that work for you are employees or independent contractors. The Department of Labor has been aggressive in auditing businesses on that subject, and the penalties can be hefty.

2. What to do when considering diversification into Agritourism?

a. Depending on the size of the agritourism venture relative to the rest of the business, you may or may not want to establish a separate entity. Either way, keep track of your income and expenses separately by type of product or event, so you can evaluate them separately, figure out which ones are most profitable, and track trends over the years.

b. Legal liability concerns may be enough of a reason to set up a separate entity. If you separate the activities, you can also separate the risks, so that the assets of one are not subject to a claim from the other. An example would be a “slip & fall” situation that might occur on a guided tour. If the tour business is separate from the farm, then the farm assets may be less exposed to liability.

c. Setting up a separate business also allows you to have different owners. Many farms are family operations, and you may have one generation interested in expanding into agritourism, but not another.

d. Assess what skills you will need for your new venture that might be different than those you currently have. Examples include retail, hospitality, inventory management, purchasing, delivery, sales &/or social media. If you don’t have those skills in-house, be sure to consider in your business plan how you are going to attain them – hire, contract, train existing personnel, etc.?

3. Why should your CPA be a resource partner to your farming operation?

a. Having a strong working relationship with your CPA means no surprises. Keeping in touch throughout the year means you’ll know how you’re doing along the way, and what to expect at tax time. Find a CPA that is a good fit for your business, and then let them show you what they know.

4. 3 key action items for every farming business

a. Make records organization a habit. You’ll only get good at it when it becomes a habit, and the benefit of the habit is never having to play “catch up”.

b. Make time regularly (or at least in between busy seasons) for working ON the business, not just IN it. Schedule it like you would a dentist appointment, and use that time for strategic analysis and planning, such as financial performance compared to projections, ROI on marketing and promotional activities, product and service lines, capacity / expansion plans, staffing & skills.

c. Look for “blind spots”. What are the strengths and weaknesses of your operation? How important are the areas where you’re weakest? If they’re important, work on a plan to shore them up – by hiring, adding a contractor, or getting training.

Farmer entering Quickbooks information for his bookkeeping

Generational Expertise

We have over 70 years of experience advising farming families

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