We’ve Built Our Business by Understanding Ag – How We Can Help Your Operation Grow?

November 17, 2020

Ag has been a key part of our practice from the very start — 47 years and “ac-counting”. We know ag because we were raised all around it, our local economy is inextricably tied to it, and we have first-hand experience in the fields and orchards of the Central Valley. The financial side of an ag business can be complicated, especially for family enterprises — but we’re here to assist with the complexities. Here’s some ways Grimbleby Coleman CPAs can help.

Estate and succession planning

Many farms and ranches are family affairs. But without a clear plan in place, even the closest of families are vulnerable to the pitfalls of a multi-generational business: an unplanned split of the operation into several separate entities, disagreements about who will take the lead, or excessive taxes or probate after the death of a matriarch or patriarch. We help families take the emotion out of decision-making and develop plans that will help them remain prosperous, now and into the future.

IC-DISC

Grimbleby Coleman has been heavily involved in the use of IC-DISC for ag in Stanislaus County for more than 10 years, leading to millions in savings for growers and processors who export their goods. An IC-DISC can reduce the federal tax rate on export taxable income, and it’s inexpensive to set up and easy to manage once in place. All it takes is a meeting with one of our ag team members to get the ball rolling.

Client accounting and business advisory services

We’re especially proud to serve as extensions of our clients’ teams. We handle payroll, offer specialized training, serve as CFOs, advise on the right time to make purchases, forecast so our clients can see the big financial picture, and more. Even though our clients work with their controllers or bookkeepers, they also receive the full expertise of the entire Grimbleby Coleman team. Our breadth of experience allows us to come up with innovative solutions that other firms may now have the bandwidth to explore.

Pioneering ideas

We’re constantly educating our team about updates to state and federal tax codes and scouring the rules for new opportunities that could benefit our clients. Besides IC-DISC, we’re among the first in California to expand Opportunity Zones to farming operations. We continue to explore ways to help California’s farmers take advantage of unexplored ways to save money while growing their businesses.

At Grimbleby Coleman, we don’t just work with ag businesses, we live the ag life. We know what it means to you because we love it, too. Contact your accountant or email contactus@gccpas.net and see how we can help your ag operation thrive.

 

 

 

 

200 West Roseburg Avenue
Modesto, CA 95350

(209) 527-4220 (phone)
(209) 527-4247 (fax)

https://www.grimbleby-coleman.com/resources/articles/245

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Our Commitment to Safety and Prevention of COVID-19

Dear friends and clients,

Thank you for putting your trust in us to provide your tax and advisory services. These are rare and unusual circumstances; but be assured, we are committed to providing continued services and support over the coming weeks.

To lessen our societal impact, as well as to protect the well-being of you, our clients, and our team, we ask that the majority of our communications be electronic or over the phone (we have rescheduled all meetings to be handled in this way).

At this time, our office is closed to the public. You may drop off paper documents in our mail slot. We strongly encourage you to use our electronic collaboration tools for securely scanning and sending tax documents and we have the necessary data security in place to ensure security and privacy.

To read our January letter detailing our electronic collaboration tools, and specific instructions, click here. We are happy to assist in the set-up of any of these applications, if you have not used them in the past; contact our Admin team at the phone number or email below.

GC looks forward to normalizing our processes as soon as safety dictates. Be well and take care of yourselves, your community, and your loved ones. We are here for you professionally and personally, so do not hesitate to reach out.

All the Best,

Clive Grimbleby, President
Grimbleby Coleman CPAs
Certified Public Accountants, Inc.
(209) 527-4220
contactus@gccpas.net

 

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