This unique event will connect, educate and create network opportunities with Land Owners & Farmers with Tax, Financial & Legal Professionals
If you are an Advisor working with clients in the Agricultural world, come connect & pick up some updates & considerations for this “Growing” Community.
If you are a farmer – either weekend farmer, have an active business or getting ready to transition your family business or land to the next generation, this event is for you!
*What do you need to think about to protect yourself, your family & your farm and why. What are the pitfalls and what simple steps can you put into place.*
Our panel of presenters will include Faith Sigler (financial planner), Kristen Luce (attorney, Coughlin & Gerhart), and Jamie Atkinson (accountant). We'll hear from them on a variety of topics, including:
- Your farm is your business and an important asset
- How your farm can be part of your retirement or legacy
- Considerations in protecting your property and the income it can generate
- What happens if some, all or none of your kids work or want the farm
- Need for formal/the right business structure & Why it’s important
- Why Family needs Legal documents/protection --> Especially if you have kids
- Taxes, important schedules --> **Schedule F
- Understanding Assets, Equity Long Term/Short Term – what you need to know
- How to set up your books / Importance of recordkeeping – how to meet your needs – whether you are a casual farmer or a growing concern
- Tax considerations when selling or transferring to next generation(s) – tax skipping exemptions
There is no cost to attend this live forum and there will an opportunity for informal networking among attendees after the panel presentations and Q&A. All professionals (lawyers, accountants & financial planners) are invited to bring any materials they would like to share or make available.
Please RSVP your attendance by Oct 28th to ensure enough materials and light refreshments have been purchased. Please sign up each individual who will be attending from your farm so we have an accurate count.
Support for this program comes from the Farmland for a New Generation initiative through American Farmland Trust-NY.
Any questions can be directed to Laura Biasillo at lw257@cornell.edu
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