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.
Holidays are a time of fun, festivities, and feasting. Over the next few weeks, we will be sharing some of KCARD’s team members favorite family recipes to make around the holidays. This week, we are highlighting Olivia’s Swedish Tea Ring, which has been passed down from her great-aunt to her grandmother to her aunt and mother and now her.
Keeping records is VITAL to your business. It helps you measure your growth (or decline), see what is costing you the most, and give you an idea of how much money you have at a given time. A business owner must think about how they can best keep records to ensure the system will be useful. We’ve listed three types of systems you can choose from or blend together.
In September, KCARD and program partners were awarded a grant for the Connecting Kentucky Veterans to Agriculture Opportunities (Kentucky AgVets) program. Main program partners include the Kentucky Department of Agriculture, Horticulture Council, Kentucky Sheep and Goat Development Office and the Community and Economic Development Initiative of Kentucky (CEDIK).
In the last 20 years, several states, including Kentucky, have passed statutes that have created a new cooperative business structure, the limited cooperative association (LCA) that is a hybrid of a traditional cooperative and a limited liability company (LLCs).
The Cooperative Extension Service is a fantastic resource in Kentucky. In this guest post by Dr. Les Anderson, he discusses a new series of videos released on YouTube to help people who are new to farming and the role of the extension service in serving new farmers and new landowners.
A Direct Marketing Sheep & Goat Webinar Series will be presented on the evenings of November 17, 18, and 19 to help producers interested in selling lamb, goat, and fiber products with production practices, processing, and sales and marketing questions. The webinar is being co-hosted by the Kentucky Sheep & Goat Development Office and the Kentucky Center for Agriculture and Rural Development (KCARD).
Haleigh Young, KCARD’s administrative assistant, fields tons of questions every day from other KCARD staff and new KCARD clients. She recently took some time to answer a few questions about herself and how new clients and inquiries begin working with KCARD.
Cooperatives exist in every sector of the economy, and cooperatives range from very small, local businesses to large multi-national corporations. Cooperatives can be classified by their primary business activity. Co-ops are often categorized as marketing, supply (or purchasing), consumer, service, and worker.
The news on shipping right now is rough. Shippers are planning for the busiest holiday season ever and are warning their long-time vendors to expect delays. What can you do to prepare if your business does a lot of shipping?
The purpose of a cooperative is to provide and distribute benefits to members based on their use of the services of the cooperative. Co-op benefits may include better prices for goods, improved services, a new market for goods, or a better source of inputs. These benefits also include receiving patronage refunds (also commonly referred to as patronage dividends), which is the distribution of net profits of the business based upon the use of the co-op’s services. The patronage refund may be in the form of payment or a written notice of allocation to the member’s equity account in the co-op.
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.
