Welcome to our dedicated farmer-specific tax services page. At Ottawa Valley Accounting Professional Corporation, we understand that farming is more than just a livelihood; it’s a way of life. Our specialized accounting services are designed to cater to the unique financial and tax needs of farmers, ensuring that you can focus on what you do best—nurturing the land and growing your business.

Agrinvest Funding and Grants

Navigating the world of agricultural funding and grants can be complex. Our team provides expert guidance on accessing Agrinvest and other funding programs tailored to your farming activities. We’ll help you identify and apply for grants that can support your farm’s growth, innovation, and sustainability.

Managing Revenue Streams

Farm businesses often have multiple revenue streams, including crop sales, livestock, and ancillary services. Our services include:

• Revenue Stream Analysis: Differentiating between taxable and non-taxable services to optimize your financial management.

• Strategic Planning: Implementing strategies to maximize revenue while ensuring compliance with tax regulations.

Record Keeping for GST/HST Refunds

Accurate record-keeping is crucial for maximizing GST/HST refunds on zero-rated goods. We assist in:

• Maintaining Detailed Records: Ensuring all transactions are accurately documented.

• Claim Optimization: Guiding you through the process to ensure you receive the full refunds you are entitled to.

Business Advisory Services

Efficient management of farm assets is vital for success. Our advisory services include:

• Equipment Management: Advice on purchasing, leasing, and maintaining farm equipment.

• Land Management: Strategies for effective land use and management to enhance productivity and profitability.

Capital Gains Treatment

When it comes to farm land and ancillary assets, understanding capital gains treatment is key. We provide:

• Tax Planning: Strategies for minimizing capital gains taxes on land sales or transfers.

• Asset Valuation: Accurate valuations for tax reporting and financial planning.

Managing Losses from Weather and Unforeseen Events

Weather and other unforeseen events can impact your farm’s financial health. Our services include:

• Loss Assessment: Evaluating the financial impact of weather-related or unexpected losses.

• Recovery Planning: Developing strategies to mitigate losses and support recovery efforts.

Bank and Commercial Loan Management

Proper management of loans is crucial for both investment and operational purposes. We offer:

• Loan Tracking: Recording and managing different types of bank and commercial loans.

• Financial Analysis: Assessing loan impacts on your farm’s financial health and planning for repayment.

Expense Categorization and Forecasting

Categorizing and monitoring your expenses can lead to better forecasting and potential savings. Our services include:

• Expense Tracking: Detailed categorization of various farm expenses to identify areas for cost savings.

• Financial Forecasting: Providing insights into future financial performance to aid in budgeting and planning.