Greenfield Farms
Service: Tax planning
Client: Greenfield Farms
Date: July 2025
Amount Saved: $50,000 in tax liabilities
Introduction:
Greenfield Farms is a family-owned business specializing in organic farming. Over the years, the farm had grown significantly, but so had its tax liabilities. The owners realized they needed a more strategic approach to tax planning to minimize their tax burden while ensuring compliance with tax laws. They approached KSFG for help.
Client Background:
Greenfield Farms has been in operation for over 30 years, producing a variety of organic crops. As the farm expanded, the owners began to notice that their tax liabilities were growing faster than their profits. The family had always managed taxes reactively, but they knew this approach was no longer sustainable. With no formal tax strategy in place, they were missing out on potential savings.
Challenge:
The farm faced significant tax liabilities due to a lack of tax planning. Greenfield Farms had not taken advantage of available tax credits and deductions specific to the agricultural industry. Additionally, they were not utilizing tax-saving strategies like accelerated depreciation of farm equipment and property.
Solution:
KSFG conducted a thorough review of Greenfield Farms’ finances and identified several opportunities for tax savings. We introduced them to tax credits for agricultural operations, such as deductions for machinery and equipment. We also helped the farm maximize accelerated depreciation, reducing their taxable income and thus lowering their overall tax burden.
KSFG also worked with the owners to reorganize their financial reporting, ensuring they were taking advantage of all available deductions and credits, and structured their tax filings to maximize savings.
Outcome:
With the new tax planning strategy in place, Greenfield Farms saved $50,000 in tax liabilities. This allowed the owners to reinvest those savings back into the business, helping them expand operations and improve their infrastructure. They also gained a better understanding of tax strategies for future years, ensuring that they wouldn’t face a similar tax burden again.
Service: Tax planning
Client: Greenfield Farms
Date: July 2025
Amount Saved: $50,000 in tax liabilities
