AGRIBUSINESS

Klatzkin & Company provides farm accounting, tax and advisory services to family farms and agribusinesses across New Jersey and Lower Bucks County, Pennsylvania. From our Hamilton, NJ office, our CPAs help growers, processors and distributors enhance financial reporting, lower  taxes and plan for the next generation.

Who we serve

We work with multi-generational family farms and the companies that supply and sell their products. Our clients include cranberry and blueberry growers, orchards, vegetable and fruit farms, sod farms and nurseries, and corn, soybean and grain operations. We also serve farmers’ markets and on-farm retailers, along with the fertilizer suppliers, processors and distributors that keep the region’s farms running.

Farm tax planning and preparation

Farm income swings with weather and prices, so year-round tax planning matters more than filing alone. Our farm CPAs prepare Schedule F and farm business returns and help you choose the right entity for your operation.

We time equipment, land improvement and building purchases to make the most of Section 179 and bonus depreciation, and we use farm income averaging to smooth your taxes across good and bad years. We also look for the qualified business income (QBI) deduction, set up 401(k) and cash balance plans for retirement savings, and manage state income and sales tax nexus when you sell across state lines.

New Jersey and Pennsylvania farm tax issues

Our team also knows the state rules that affect farms in our region.

In New Jersey, we help farm owners maintain the income records that support their farmland assessment application each year. We advise on qualifying farm purchases and exemption certificates so you don’t overpay sales tax on equipment and supplies, and we plan transfers of land and equipment to family members with New Jersey’s inheritance tax in mind.

Farm succession and estate planning

Most family farms are rich in land and equipment but short on cash. That makes passing the farm to the next generation hard without a plan. We help families value the operation, structure gifts and sales, and plan for estate and inheritance taxes, so the farm stays in the family and siblings are treated fairly. Learn more about our estate administration and tax planning services.

Why farm families choose Klatzkin

Farm families choose Klatzkin for decades of agribusiness experience in New Jersey and Lower Bucks County, and for local advisors who meet in person and understand the region’s crops, land values and state programs. Because one firm handles your books, taxes, audits and succession planning, every part of your plan works together.

Let us Help Your Move Forward

Working with a provider that understands your challenges, risks, and opportunities are imperative to success. Whether managing a multi-generational family farm, cranberry bog, orchard, or farmers’ market, our team is here to guide you to success.