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FCI is investing in a cutting-edge technology platform and joining four Farm Credit System peers as a part-owner of Farm Credit Financial Partners, Inc. The platform features the latest technology and functionality advancements and is building a state-of-the art online banking portal. Look for more details next summer on how this new technology upgrade will affect you leading up to the August transition.
Losing financial balance can
be detrimental to a farm business. As some farm families consider restructuring
debt to increase liquidity, they must first recognize the issues that got them
off-center and create an action plan to find the right balance.
With the farm economic reset
going into its fifth year, cash and working capital are increasingly difficult
to maintain, but efforts to preserve them are critical. Maintaining cash and
operational working capital impacts the bottom line and strategic flexibility
while providing both short and long-term
harvest, many farmers begin to think about expanding their farming
business. But before you purchase
additional farmland, consider these four basic questions.
While the concept of
retiring may seem foreign to many farmers, it is important to consider your options and start planning
as early as possible with your business and life partner. As your most
important ally in life, reach out to your spouse or partner to tackle the plan
for a long, abundant life together.
Farm transition planning is
complex and the rules lengthy when it comes to the IRS tax code. Following Farm
Credit College educational workshops earlier this year, Dr. Ferrell answers FCI
member questions on taxes.
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Equal Opportunity Employer and Equal Credit Opportunity Lender