Operating an agribusiness such as a farm or ranch successfully requires strong financial skills to ensure profitability and sustainability.
Agribusiness managers can enhance their business operations by filing tax returns that take advantage of proper deductions and credits. Other relevant business skills include:
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- How to set up a robust business plan with solid strategies.
- How to implement asset-protection techniques.
- How to manage financial statements.
- How to utilize U.S. Department of Agriculture (USDA) programs like the Farm Service Agency’s Farm Loan Program.
On July 11, the University of Florida Institute of Food and Agricultural Sciences (UF/IFAS) and Texas A&M will host the workshop Business Planning & Tax Management for Farmers & Ranchers.
Event Details:
Time: 9 a.m. to 1 p.m.
Location: UF/IFAS Extension Miami-Dade County, 18710 SW 288 St., Homestead
Cost: Free. Lunch is included.
Advance registration is required: Please register here for the event.
The workshop is in-person only. It’s designed to teach participants effective financial skills and provide tools to navigate the complexities of financial planning, tax obligations, estate planning and understand financial statements. UF/IFAS Texas A&M speakers will cover these four areas:
- Business Planning and Taxes
- Heirs Property and Succession Plans
- USDA Programs and Loans Available
- Financial Statements
While the workshop will be conducted in English, Texas A&M is providing Spanish-speaking support for participants with limited English proficiency.
In addition to financial education, experts will assist participants who may have difficulty obtaining commercial loans, by guiding them through the process of applying for loans through the U.S. Department of Agriculture Farm Service Agency’s (FSA). These loans are crucial for farmers and ranchers seeking the financial support needed to start, expand or maintain their family farms.
Participation in this workshop fulfills the USDA FSA financial training requirement for borrowers seeking loans.
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ABOUT UF/IFAS
The mission of the University of Florida Institute of Food and Agricultural Sciences (UF/IFAS) is to develop knowledge relevant to agricultural, human and natural resources and to make that knowledge available to sustain and enhance the quality of human life. With more than a dozen research facilities, 67 county Extension offices, and award-winning students and faculty in the UF College of Agricultural and Life Sciences, UF/IFAS brings science-based solutions to the state’s agricultural and natural resources industries, and all Florida residents.
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