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Contact Information

Craig Wood, Ph.D
Acting Associate Dean & Director
UK Cooperative Extension Service

S-107 Ag. Science Center North Lexington, KY 40546-0091

+1 (859) 257-4302

craig.wood@uky.edu

Impacts

Contact Information

Craig Wood, Ph.D
Acting Associate Dean & Director
UK Cooperative Extension Service

S-107 Ag. Science Center North Lexington, KY 40546-0091

+1 (859) 257-4302

craig.wood@uky.edu




Fiscal Year:
Jul 1, 2024 - Jun 30, 2025


Success StoryFarm Recordkeeping



Farm Recordkeeping

Author: Traci Johnson

Planning Unit: Todd County CES

Major Program: Farm Management, Economics and Policy

Plan of Work: Agriculture Production and Management

Outcome: Intermediate Outcome

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.








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Farm  Recordkeeping

Farm Recordkeeping

yesterday by Traci Johnson

Although farm recordkeeping is vital to farm operations to improve management, measure profitability... Read More


Raising the Steaks

Raising the Steaks

about 21 days ago by Traci Johnson

Spurred by food shortages during the Covid 19 pandemic, local meat demand has remained strong in Ken... Read More


Stories by Farm Management, Economics and Policy


Farm  Recordkeeping

Farm Recordkeeping

yesterday by Traci Johnson

Although farm recordkeeping is vital to farm operations to improve management, measure profitability... Read More


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