In an episode of The Fighting Farmer, Spence mentioned that one of his processing customers is a book keeper and tax preparer. Then Chad Ward popped up and answered a tax question in the Pastured poultry Talk Facebook group. So I decided to catch up with Chad, who is a pastured poultry farmer from Oklahoma who also happens to prepare taxes and keep books at an H&R Block office.

Pastured Poultry Headlines

• Poultry World published an article that concluded that, “Antibiotic use in US poultry production is 3 times higher than the UK and 5 times higher for turkeys, according to a report released by the Alliance to Save our Antibiotics.”
• Mike will be doing webinar on producing turkeys for market with FACT . It’s free to attend, but registration is required. There will be a playback. Description of the workshop: Mike Badger, Executive Director of the American Pastured Poultry Producers Association (APPPA) and owner of Badger’s Millside Farm in Pennsylvania, will share expert advise on how to raise turkeys on pasture – from concerns about bird health, to designs for outdoor housing, to ideas for creative marketing. There will be time for Q&A so be sure to come with any burning questions you may have!
• APPPA is putting together a resource guide to connect farmers with products and services of other farmers. Deadline: March 9, 2018.

Key Farm Accounting Topics

The accounting side of the business, according to Chad, will sink more farmers than the production side. Chad shares several things that can help you prepare for next year’s taxes by keeping account of what you’re doing.

• Keep a dedicated bank account.
• Use technology to systematize processes, such tracking mileage. Chad recommends MileIQ.
• To keep track of income and expenses throughout the year, Chad recommends Xero and talks through why Quickbooks is not always the best answer. Mike mentioned Wave.
• Making the Schedule F fit small scale, niche farming.
• Issue 1099’s for companies that provide you with more than $600 in services.

Chad Ward can be reached chad.ward@handrblock.com | Facebook