Agriculture Accounting

Idaho has a rich agricultural heritage. At Cooper Norman, we know that agriculture takes grit and an ability to handle risk and uncertainty. It is our goal to make your business journey less rocky so you can focus on your operation’s goals.

As a farmer, there is something special about providing things for others that they are not able to provide for themselves. Whether your family has been farming the same lands for years or you are a first-generation farmer, there is a lot that goes into an agricultural operation. In the state of Idaho, there are about 25,000 farms and ranches that are on 11.8 million acres to produce over 185 different types of commodities. Especially here in South Eastern Idaho, farmland is common. We want all of our farmers to continue operating and be successful. At Cooper Norman, we are here to allow you to focus on the vision of your business and we can take care of the complicated pieces of agriculture finance. 

There is never enough time when it comes to agriculture, there are so many components to running a successful business. For those that are ranching or have livestock, you are busy year around keeping them healthy and producing. Those who raise crops are kept busy as well to ensure their crops are getting the water they need, are safe from the changing weather, and will be ready to harvest. We know the amount of time and effort that goes into running a farm or ranch and we want to give you some more time to focus on your families and what you are producing for the world. 

Services Offered

Bookkeeping

A major part of any operation is to ensure that your books are up to date and correct. We can take away the stress and time that is focused on bookkeeping. This would include paying approved invoices, bank account reconciliations, receivables, and payables management, monitoring the line of credit, and monthly statements if you want them. All of these things that should be kept up to date monthly could be done by us so you can put your time toward other tasks. 

Payroll

To run an operation, you are sure to have employees that you have hired to help out where you need extra hands. Cooper Norman would be able to handle the paychecks that are to go out to your employees. Ensuring that their paychecks are correct and go out in a timely manner each payday. Filing monthly, quarterly, and yearly reports that need to be done and H-2A and e-verify assistance. 

Tax Planning, Entity Structuring, and Tax Preparation

An upfront, proactive, and solution-based planning when it comes to taxes is what we are able to provide. Another important component of this is to have tax strategies that give your operation the most benefit. We also want to help you with asset protection planning and if there is going to be an ownership change that there is a strategy in place to have a smooth transition. 

Prepare Financial Statements

Statements are crucial in getting an accurate idea of where your business is at. We can prepare the cash and accrual basis financial statements when needed. Audits, reviews, and compilations can be overwhelming, we take care of these for you so you do not have to stress about them when they come. Whenever a transaction occurs, we will be able to give you fair market value statements to ensure that there are no concerns. One more statement that can be beneficial for us to prepare is comparing your proposed budget to actual performance. 

Estate Planning

When it comes to agriculture, many times the business will be passed down to individuals within the family to take over the operation. We can help you create a plan of succession and create a plan for a smooth transition in ownership. Wealth preservation and retirement planning are other important things to consider and we can give you advice on what plan will give you the outcomes you are wanting. Estate tax and gifting strategies will save you and your family money when it comes to the finalizing of your estate. 

Consulting and Management Advisory Services

There are many moving parts and components that go into running a successful business, we are here to help you through it all. We are able to do business management, consulting, and planning for your business to run optimally. Going through your debt and reconstructing, analysis of any lease or buying agreements, helping you get government program assistance,  and enterprise crop cost accounting. Lastly, we want to help you with buying, selling, and trading farmland and machinery. 

Who Needs an Agriculture Accountant?

If you have an operation that falls under agriculture such as a ranch or farm you could benefit from an agricultural accountant. Finances are a complicated piece of business and should be done by professionals. This allows your operation to be getting the most out of your finances and getting advice from experienced accountants that want the best for your business. Even if you feel that you can take care of your business financials on your own, it is time-consuming. Our knowledgeable team has years of experience that allows them to be efficient while giving your business financials the attention it deserves. 

Why Cooper Norman for Your Agriculture Accounting?

At Cooper Norman, we are dedicated to each of our clients. We want them to be receiving excellent advice, and service, and getting the most out of their business financials. We put the time and effort into each of our clients to give them the results they are looking for. Being able to focus on your operation and the vision that you have for your business is a luxury. You can have that luxury and not worry about the financials without agriculture accountants. Please contact us with any questions that you may have. We look forward to seeing what we can do for you, whether you are a first-generation or tenth-generation individual in the agriculture world. We are here to help you and your business grow and be successful.