Your Legacy Deserves Expert Care
Accounting Services for Farmers and Agribusinesses
Harding, Shymanski & Company provides accounting, tax, and advisory services to farmers, agribusinesses, and agriculture co-ops in Indiana, Kentucky, and across the USA.
Running a successful farm or agribusiness requires more than just hard work—it takes financial expertise to navigate the industry’s unique challenges. At Harding, Shymanski & Company, we understand the complexities of agricultural accounting, from managing seasonal cash flow to maximizing tax savings. Our dedicated team is here to help farmers, landowners, and agricultural businesses thrive.
Our Agricultural Accounting Services
We offer a full range of services designed to support the financial health of your farm, including:
- Tax Compliance & Consulting: Meet all tax obligations while taking full advantage of agriculture-specific tax rules that can save you money.
- Income Tax Preparation: Accurate and timely tax returns to help you avoid penalties and capture all available deductions.
- Outsourced Accounting Services: Let us handle your books so you can focus on farming. We provide accurate financial statements essential for loan applications and grant submissions.
- Succession Planning (STEPS): What happens when you are ready to retire? Simplify the transition of your farm to the next generation with our proven succession strategies.
- Wealth Management: Work with us to implement planning-centric strategies to address your unique wealth management needs.
Overcoming Industry-Specific Challenges
Agriculture comes with unique financial hurdles. Our agriculture CPA team has the expertise to help you address:
- Commodity Price Volatility: Navigate fluctuating grain and livestock prices with strategic financial planning.
- Tax Planning: Avoid missed opportunities by understanding specialized tax laws that apply to farmers.
- Financing Options: Secure funding through USDA loans, the Farm Credit System, and traditional bank loans with properly prepared financial statements.
- Succession Complexity: Ensure a smooth transition of your farm with comprehensive estate and succession planning.
Ready to Strengthen Your Farm’s Financial Future?
Farming is more than a business; it’s a legacy. Let us help you navigate the financial side of farming, so you can focus on what you do best—growing your business.
Contact us today to schedule a consultation and see how we can support your success.
Resources
FAQs
Farmers need accurate bookkeeping, tax preparation, cash flow forecasting, payroll processing, and financial statement preparation to make informed decisions, secure financing, and stay compliant with tax laws. Seasonal income, inventory management, and depreciation on equipment make agricultural accounting uniquely complex. Having a partner that understands how the farm operates and how that translates into the accounting world is key to helping you grow and succeed.
Agribusinesses can reduce taxes by leveraging Section 179 and bonus depreciation, using farm income averaging, properly timing deferred income and expenses, choosing the right entity structure at the start (LLC, S Corp, etc.), and taking advantage of many other ag-specific tax provisions. Proactive planning with a tax team familiar with ag-specific rules is key, especially in an ever-changing tax landscape.
Farm succession is about more than taxes – it’s emotional, generational, and logistical. You must navigate ownership transfer, estate taxes, equal vs. fair distribution, and family dynamics. A successful transition requires long-term planning, not just a last-minute will.
