Column

We’ve all heard the family business statistics before, but they’re worth repeating. Approximately 80 – 90 percent of U.S. businesses are family firms.1 While many family businesses thrive in today’s economy, life and personal relationships can take a turn and have an effect on you, your family, and your family business.

We’re smack-dab in the middle of summer, and for many small businesses, sales and other activity might be closer to the valley than the peak. It’s the “slow season.”

“Preparation through education is less costly than learning through tragedy” – Max Mayfield, former Director, National Hurricane Center.

As the sun rises, you take your coffee out on the back porch and sit in the rocker to read the paper. The fog breaks and your red horse barn begins to appear in the distance. You have a beautiful new carport that houses your 4×4 and motorhome. Satisfaction over your homestead brings a smile

Farming is a very rewarding occupation, but it can also be very lonely, especially for small family-owned farms. Their days can be isolating. Their audience of animals may be great listeners, but they aren’t known for carrying on a conversation.

Insects are active this time of year, so you need to create your “most wanted” list of pests to look out for and manage, if necessary. Check your lawns and gardens at least weekly for mole crickets, chinch bugs, sod-web worms, azalea caterpillars, white flies, and more.

To stay top of mind with today’s consumers, a digital marketing campaign is a must. The payoff for your agricultural operation comes when a campaign successfully moves more of the right people at the right time to purchase your products more often.

There’s no denying that ours is a global economy, and that, by and large is a good thing. In addition to the competition it fosters— keeping prices low and quality high— the world needs products the United States produces (principally food) and U.S. consumers “want” many of the products produced outside our borders.

Property that you acquire while running your farm or ranch is often considered depreciable, meaning that the IRS allows your business to recoup a portion of the cost of the property each year over a specified useful life. To qualify, property must have a useful life of over one year and eventually wear out or

Life insurance, for those who qualify, is a powerful tool to help meet a wide range of personal and financial objectives.  Most people are familiar with life insurance as a way of providing funds to replace lost income in the event the family “bread winner” passes away.  It can also be used to pay off