Agstability accountant poll

[blackpowder]

If I may. How many in straight grain operations are bothering with this expense anymore???
Changing accountants from a single desk owner op to a national firm has lead to this question.
Also, without sticking your neck out, pros and cons of the aforementioned firms??
I'm leaning toward the one with the seemingly strongest presence in ag.
Thanks.

[bucket]

MNP will tell you to go rent or buy a bunch more land to have structural change...and help you get a payment....

And they will gladly take a cut. They designed it.

[sumdumguy]

Very easy to fill in your own forms for most single operations, even incorporated ones. If you have a partner son, just sit down together and you trade grain, machinery, and inputs you can just filled as combined operation. Set up your books according to agristability. That’s a very easy way to keep your records and AgStab and Crop Insurance is done. I wouldn’t bother with Ag Expert or other software if they aren’t directly compatible with farm programs. I never needed MNP or any accountant a spent more than a dozen years directly involved from AIDA to AgriStability.

[ry0972]

I dropped that useless program, many years ago!!!
I may wish I had it and crop insurance if we get a dry year like 1988!!!
I feel Agri-invest is the only one worth being in at this time.

[bucket]

I would say if you are not with the aforementioned firm you may as well drop out as you have no idea what payment you were supposed to get or what payment amount you didn't get.

There seems to be an awful taste and tone from certain farmers that just want something simple and free. With cash basis filing methods for farmers, shit records, horse trading and who knows what else, how do you every design a program that is fair unless you approach it similar to what AgriStability is attempting to do.

Yes the program had changes in the past making it less attractive but for the most part, most areas have not seen a true production/gross margin drop in income.

I think the complainers of the current program don't have a clue what gross margin is either.

Good questions. ...maybe that is why the Americans go with an acreage payment...more often than not.

Long story short ....Canadian farmers can't compete with the US treasury or any country that values it'd farmers to the economy.

Why does it need an olympic average?

Or 5 years of records....

Americans are seeing good prices and still receiving payments...because farmers help the economy.

[seldomseen]

Dropped out years ago but I have to ask. Why do you have to be with the aforementioned firm? Do they work with different rules or don't all accounting firms follow the same rules?

[SASKFARMER]

Useless program. Yes we understand how the program works. Maybe we actually make money not scam
gov programs.

[Guest]

We buy hail and crop ins. Can’t imagine how we could collect ?
Wouldn’t be without either one of those
Got out about 7-8 yrs ago
Had a weak moment about 3 yrs ago and gave it another look
Took me about half a day to remember how worthless it was and what a waste of time it was
Self inflicted govt audit

[Guest]

Anybody look at SCIC coverage on canola , wow !
Hope guys don’t abuse that , sure let’s a guy sleep better at night ! Pretty reasonable coverage
But it’s about the dollar amount needed if a wreck comes with these crazy inputs and Mach cost and repair
Hopefully enough moisture to get crop established so we are insurable if it is a massive drought

[Sodbuster]

Agristability is a waste of time and money, AgriInvest is a good program and easy to fill out, no need to have MNP or any other big accounting firm fill out the forms for you when it’s so easy. I feel our farm is covered good enough with having SCIC and hail insurance.

[SASKFARMER]

I love what Crop insurance provides. You pick your coverage 70 or 80% and pay a premium.

We take extra for hail insurance.

If we had a total write-off it is enough to get you through a year with no problems.

AG STAB just finished an audit that covered 2015 to last year. Never collected one penny in any year since 2002 but make-work projects are fun.

Big talk and no action.

Collected for 2002 and then five years later paid every penny back. Oh, 2002 it froze on the 4th of August with -5 for over 10 hrs.

USELESS but hey some figure out how to get a payment every 3 years and it's fun with numbers and legal.

[bucket]

If any saskfarmer recieved $ 100 000 plus from agSTAB in any of the past six years Expect an audit from scic !

Really don't know how a guy can be audited when the forms go through at least 3 verifiers. .

They should asking the staff how they approved it, not the farmer.

It's like the CERB and the governments phuck up...wanting people to pay it back after they change the rules.

No reason for audits

[fjlip]

Actually sent us a couple dollars in 2009 due to crazy fertilizer prices. After changes in 2010 or so, we stayed out. No chance of one cent since.

[Old Cowzilla]

Good luck to those that participate in the program !

If I had good luck I wound not participate in the program. I was going to leave it until I saw the long range forecast. Sent the check already and hope not to collect just got bad feeling that these high grain prices will be offset by shitty crops. And if its shitty crops across western Canada cattle will tank and I will get it from both ends. A couple more years and I will tell everybody to STICK their programs. P.S. A little on edge was doing books lastnight.

[LEP]

Without getting into too many details, I have been out of the program since about 2012 until last year. I have a july yearend which allows me to kind of have a better idea on a payout before paying the annual premium.

2019 for us was a horrible year. I had experienced a couple dry ones in a row and felt brave enough to drop my crop insurance to 70% from 80%. When i did a look at the numbers, I realized that if I had stayed at 80% coverage, I really had almost zero chance of collecting under the old rules. This will change quite abit if the new rules are adopted as proposed by Bibeau.

I have a unique setup where I use a smaller firm to do my annual tax returns, but use the firm you mentioned for estate planning and major tax planning moves. I think you are at the stage of your career where it makes sense to use them. They see so many different scenarios and have spent the time to think through different strategies that a smaller accountant doesn't do or have time to do.