Farming's Financial Fortress: Mastering Risk with 831B
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Farming's Financial Fortress: Mastering Risk with 831B
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In the high-stakes world of modern agriculture, farmers face a relentless barrage of risks, from volatile markets and unpredictable weather to the ever-increasing costs of equipment and insurance. How can family farms, often operating on razor-thin margins, protect themselves against these uncertainties? This week, we dive deep into a powerful, yet often overlooked, tool that could improve how farmers manage risk and build financial stability.
Join us as we sit down with Van Carlson, CEO and founder of SRA 831B Administration, to demystify the 831B tax code. Discover how this provision, originally designed to support farmers, allows agricultural businesses to create their own self-insurance plans, using pre-tax dollars to fund potential losses. From crop insurance gaps to equipment depreciation and even health coverage, Van breaks down the complexities of 831B, revealing how it can empower farmers to take control of their financial destinies and navigate the challenging landscape of today's agricultural economy
Hear the full show: https://iowapodcast.com/van-carlson-family-farm-financial-strategies