Farm and Agriculture

FBC was forged from a genuine desire to help farmers and farm businesses succeed. More than 65 years later, we’ve still got your back.

Let's Get Growing.

As a farm owner you work hard for your money and our farm tax specialists work hard to ensure you keep as much of it as possible.

FBC has worked with Canadian farm owners for more than 65 years to minimize their income taxes and maximize their assets.

We offer an industry-leading membership model which means we help our Members not only with tax preparation, but with year-round tax planning, consultation, financial and estate planning and audit representation.

Book a free consultation now

Cash or Accrual Method of Farm Accounting?

While the difference is simply a matter of when you account for income and expense items, the tax consequences of whether you use the cash or accrual method are far more complicated.

We can help you determine which is best for you and help you switch if it makes sense for your farm operation. We’ll meet you on your farm, get to know you and your operation, and collect the tax data we need. With that understanding and our knowledge of farm tax strategies, we’ll minimize your taxes and save you money.

Find out which method of accounting is good for me

Cash Accounting

If your business meets the Income Tax Act definition of "farming" you're eligible to use the cash method of accounting for tax reporting.

This means you report income in the fiscal period in which you receive it and deduct expenses in the fiscal period in which you pay them. If you have a small farm with activities that remain fairly consistent from year to year, cash accounting may be right for you.

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Accrual Accounting

If your farm operation is growing, you're adding or changing your product mix and production processes, or manage fluctuating inventory, accrual accounting is essential to sound business management.

With accrual accounting you record income and expenses when a sale or purchase is made, even if the money hasn't yet changed hands. Accrual accounting involves a double-entry system of debits and credits. It lets you balance your books, and allows you to produce all sorts of different financial statements.

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Services for Farm Owners & Agricultural Producers

Your FBC Tax Specialist will come meet you at your office, home or farm and get to know you and your operations. We'll help you build a comprehensive tax strategy to minimize your taxes, save you money and prepare for your future.

Tax Preparation

Nothing missed. Everything gained. We save you time and money by coming to you during our personal on-site visit to collect your tax data.

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Tax Planning

We help you build a custom personal, family, and business tax plan to maximize your savings today and over the long term.

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Consulting

As your business grows, your tax strategies and financial goals will also evolve. Our tax consultants will help guide important business decisions throughout the year.

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Audit Representation

We have you covered. As a Member with FBC, allow us to represent you if you're ever audited by the CRA, at no extra cost.

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Bookkeeping & Payroll

Sit back and relax. We'll do the grunt work for you when it comes to your books. Less stress for you means more time for the important things in life.

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Financial Planning

Take a chance on yourself but never your financial future. We use powerful tools and take a calculated approach to growing your assets and protecting your hard-earned money.

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Estate Planning

We'll help you create a comprehensive estate plan to ensure more money goes to your heirs and loved ones and less to the government.

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Legal & Compliance

We'll take care of the CRA so you don't have to. Allow us to make sure your business' legal documents are filed and maintained properly.

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Farm Risk Management & AgriStability

Risk Management is a core component of your farm tax strategy.

Nothing can get in the way of weather's wrath or the increasing risk of pests and diseases.

It's not a matter of "IF" your farm will be impacted, it's a matter of "WHEN." Let's plan for proper insurance and risk mitigation. We can help you apply for and process claims for most of the federal and provincial programs that manage your farm risk management like Growing Forward 2, AgriInvest, AgriStability, AgriInsurance and AgriRecovery.

Looked At Last Few Year's Returns and Found $90,000.

"FBC has been a wonderful find for our family. We came to them about 15 years ago." Tim Belch, Buffalo Ranch, Peterborough, Ontario

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Serving Canadian Farm And Small Business Owners
For More Than 65 Years

Our Members' farms are important to them so they are important to us. Here is what some of our farming Members have to say!

I’ve been a Member with FBC since 1962. We like the home visits and that they’re only a phone call away. They provide excellent service with a smile and our questions are always answered. We would recommend FBC to other farmers and business owners.

Herman Van Wieren Hensall, ON

With confidence we would highly recommend the staff at FBC Financial & Estate Planning for their caring and knowledgeable approach to assisting farm families with succession planning and ensuring we treat all of our children in a reasonably equitable manner.

Jonathan D Alberta

FBC helped file my farm risk management application - we received a payment of $221,000. We're reassured by the fact that FBC will help our family through anything that comes.