Tax season doesn't have to be stressful — with the right approach, it can be a year-round strategy that sets you up for success. In our latest blog, the UK Department of Agricultural Economics break down essential tax tips, key filing updates, and smart planning strategies for farmers and small business owners, including disaster-related extensions for Kentucky, new 1099-K rules, and options for livestock sales and asset depreciation. Stay organized, stay ahead, and start building a smoother path to your future tax filings today!
As we gear up for the 2025 season, effective recordkeeping is key to understanding your business's financial health and driving growth. This blog explores advanced methods, from cloud-based software to industry-specific tools, to help you track finances, analyze key metrics, and make informed decisions. Mastering recordkeeping will set your business up for success in the year ahead.
In case you missed it, check out our Recordkeeping 101 blog post to get caught up on this series.
Struggling to price your products at the farmers market? It’s a balancing act between attracting customers and ensuring profitability. From calculating your costs to understanding market trends and perceived value, this post breaks down key steps to help you set the perfect price. Ready to optimize your pricing strategy? Read on for tips that will boost your sales and sustain your business!
With the uncertainty of USDA contracts and funding while federal programs are being reviewed by the new administration and some programs being canceled, it is important for producers and organizations to understand their rights and key timelines. Farm Commons has recently published a resource aimed at helping producers navigate this situation. Key points from this resource are summarized in this post.
Starting or growing a business is an exciting journey filled with opportunities and challenges. Whether you’re launching a startup, expanding an existing operation, or simply rethinking your strategies, it’s always helpful to have a well-thought-out business plan. This document isn’t just a formality—it’s a foundational step that can turn your vision into reality while ensuring you stay on track to achieve your goals.
Dr. Steve Isaacs has been with the University of Kentucky Cooperative Extension program for over 28 years, specializing in farm management programs such as farm financial management, human resource management, and the economics of injury prevention. Dr. Isaacs is a trusted and valued resource for KCARD with his extensive knowledge in agricultural economics and business management. He has also been a mentor or instructor for many KCARD staff over the years.
If you ask any KCARD employee where they turn to first in a business plan they receive, there’s a good chance that – after reading the summary of what the business is wanting to do – the profit/loss statement will be the first page reviewed. We will start looking at how revenue was calculated and whether the expense lines show everything that we expect to see in that particular business. In the next few weeks, we will be going into more detail on how to develop financial projections, stay tuned.
A Direct-to-Consumer Beef Webinar Series will be presented on the evenings of July 14, 15, and 16 to help producers new to selling beef with production practices, processing, and sales and marketing questions. Kentucky Center for Agriculture and Rural Development, Kentucky Cattlemen’s Association, and the University of Kentucky are coming together to present information that should help producers navigating beef sales for the first time.
If you are new to direct meat sales and have just read our blog posts about having your meat processed for the first time and pricing your meat for profit, we’ve pulled together some more resources for you to explore.
The Kentucky Center for Agriculture and Rural Development (KCARD) is launching the Kentucky Local Food System Expansion Initiative to expand the work of multiple organizations that have laid a foundation in Kentucky for local food purchasing. Organizations involved in the project include the Kentucky Department of Agriculture, Kentucky Horticulture Council, Feeding Kentucky, Bluegrass Farm to Table, the University of Kentucky, and the Community Farm Alliance.
Chances are you are already doing some social selling if you have a Facebook business page, Instagram business page, or professional Twitter page. So, what is social selling? It is the art of using social media to find, connect with, understand, and nurture sales prospects. In short, it is the modern way to connect with current and potential customers to develop meaningful relationships. The goal with social selling is to bring value to your customer by anticipating their needs rather than just spamming them with “buy now” posts. We’ve put together some best practices to include with your social selling strategy.
Did you know that the average email subscriber receives about 13 commercial emails each day? How does your business break through that fog of emails to reach your customer? We’ve included a few tips below to help you get started, in addition to these marketing basics.
Fact: people are cooking and eating at home more. Those who weren’t cooking at home are now making meals several days a week for their families. Of those making meals at home, 35 to 40% of them started cooking for the first time, according to global management consultant SSA & Company. So, what does that mean for your food business? How can you educate new customers about your products so that you retain them once things get back to normal? Below are a few ideas for targeting the “new” home cook.
If you are new to direct meat sales and have just read our blog post about having your meat processed for the first time or are looking at updating your pricing, here are two questions you need to ask: What are your competitors’ prices; and, what is your minimum price to break-even. Check out the following blog post to get started on pricing your meat to make a profit.
U-Pick operations are a critical direct marketing approach for many farms in Kentucky and provide customers with a unique hands-on connection to fresh produce grown locally. Here are some key points to keep in mind before you open for the season.
The Kentucky Center for Agriculture and Rural Development is a non-profit organization established to facilitate agricultural and rural businesses in Kentucky. We are supported primarily through grants provided by the USDA Rural Cooperative Development Program and the Kentucky Agricultural Development Board. Additional support is provided through our work with partners around the state and through fees charged for select client services.
