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Business Farm Supplement 22  Form

Business Farm Supplement 22 Form

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hello my name is katie wontock i'm an agriculture agent for university of wisconsin division of extension in dunn county today we're going to be talking about the 10 considerations for farm succession the fourth step for you to consider in your farm succession is to analyze your farm business and your farm financials i have a personal investment business as my previous career prior to extension was working at a bank lenders do like to review those farm financials but it is equally important for farmers to review and make sure that they know where their farm has been and where it will be going what info do you currently have that would make this easy to to accomplish do you have depreciation schedules and tax returns insurance policies that list all of your farm assets retirement plans savings a farm balance sheet organizes what farm business assets are owned and what are owed also referred to as debts and liabilities having three to five years of balance sheet informati

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