In today’s episode, host John Haskell is joined by Jordan Steele to discuss the importance of annual tax planning for those in the farming and ranching industry. Jordan shares the importance of maintaining accurate records throughout the year and potential tax liabilities that come with running a profitable business. Jordan also offers valuable insight into various factors that should be considered in tax planning, including what has already occurred in terms of income and expenses, what is projected for the remainder of the year, and potential strategies to manage tax obligations.

In this episode, we cover:

• Using the remainder of the year to prepare and plan for taxes
• Strategies for managing tax liabilities
• An overview of capital purchases, depreciation, and tax strategies
• Why you should fill the bottom tax brackets every year

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Find the complete show notes here: https://www.ranchrightllc.com/post/annual-tax-planning-with-jordan-steele-episode-17

Connect with Jordan:

• Email him at jordan@ranchingforprofit.com
• Ranching for Profit

Connect with Ranch Right, LLC:

• Subscribe on YouTube
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• Check out the website

Resources & Links:

• Book a Free Discovery Call to Learn More
• Ranching for Profit
• Ranching.FYI
• Wally Olson, Olson Ranch LLC

Mentioned in this episode:

Zone Rancher Course