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Maximizing the Qualified Farm Property Exemption

Maximizing the Qualified Farm Property Exemption

By Kristopher McEvoy, CPA, CGA

Posted in Farms

The Qualified Farm Property exemption is available to farmers who sell their property, but only for the portion of land that qualifies as ‘farmed’.

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Benefits of FBR & OFA Numbers

Benefits of FBR & OFA Numbers

By Kristopher McEvoy, CPA, CGA

Posted in Farms

A valid Farm Business Registration number (FBR number) will give you access to a number of benefits including lower property taxes and eligibility for OFA membership.

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Growing Forward Succeeded by Canadian Agricultural Partnership (CAP)

Growing Forward Succeeded by Canadian Agricultural Partnership (CAP)

By Kristopher McEvoy, CPA, CGA

Posted in Farms

Growing Forward and Growing forward 2 are now going to be succeeded by the Canadian Agricultural Partnership (CAP).

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Farm/Winery Set-up to Maximize Farming Grants

Farm/Winery Set-up to Maximize Farming Grants

By Kristopher McEvoy, CPA, CGA

Posted in Farms

If you have a farm and a winery and want them set-up in a way that will maximize farming grants, the best thing to do is to keep the farm and the winery separate.

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AgriInvest – AgriStability

AgriInvest – AgriStability

By Kristopher McEvoy, CPA, CGA

Posted in Farms

If you are in the AgriInvest and AgriStability programs, and have a sufficiently low production year compared to your average, you will receive a payout.

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Capital Gains Exemption for Qualified Farm Property Sale

Capital Gains Exemption for Qualified Farm Property Sale

Posted in Farms

If you who own farm property (land or building), an interest in a family farm partnership, or shares in a family farm corporation you might be able to claim a $1,000,000 lifetime capital gains exemption (LCGE) once the farm property is sold.  

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Farmers get Help to Grow their Business

Posted in General, Farms

There are programs and services offered by the Ontario Government to help farmers grow a healthy and profitable business.

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Bookkeeping Tips for Farmers

Posted in General, Bookkeeping, Farms

If you are like most farmers, you would much rather be out in the barn or out in the field rather than sitting at your desk doing paperwork.

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Expense Planning: Paper or Digital, what is best?

Posted in Bookkeeping, Restaurants, Farms, Virtual Services

Whether you keep your expense receipts in a shoebox or prefer to keep your files online, expense planning is essential.

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Grant - Financial Aid Programs for Farmers

Posted in General, Farms

If you are a farmer, whether full-time or part-time, deadlines for program applications are important. If you don't meet the designated deadlines, you may no longer be eligible, or you will incur a fine.

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