Although farm recordkeeping is vital to farm operations to improve management, measure profitability, file taxes accurately, and gain access to credit -- it often doesn’t get the attention it demands.  To help farmers better understand and use recordkeeping, the Todd County Extension Agriculture Agent organized a Farm Recordkeeping program, taught by an Area Extension Specialist for Farm Business Management.   

The program was promoted for beginning and experienced farmers, plus those taking over the reins of a farming operation.  Twenty-eight people participated in the April 2025 program and learned about: 

• Ag Sales Tax Exemption and Kentucky Sales Tax Changes
• Records Needed to Prepare for Tax Season
• Special Tax Considerations
• Financial Statements
• Records Needed to Evaluate Production

Verbal feedback from farmers following the Farm Recordkeeping program included: 

• “The class confirmed several things for me, most importantly that we have been filing taxes correctly.”
• “Getting the farm record book was really good for me.  I don’t use computers like my farming partner does.  I have been using the book to write down things and give to him for computer entry.  This has improved our overall recordkeeping”
• “I didn’t know about the Ag Exemption Number expiration or how to navigate before hearing this talk.”
• “The talk really helped me understand what to look for and the papers I needed to keep for filing taxes.”

Because of this feedback and interest in farm business topics, a program on Evaluating Mid-Year Cash Flow Needs will be offered in July 2025.