Athabasca Farm and Agriculture Accountant – BOMCAS

BOMCAS Athabasca Agriculture Accountant Services specializes in Bookkeeping, Payroll for Corporate, Small and Medium size Business and Tax preparation and filing for Corporation, sole proprietorship and individual personal tax. We serve clients throughout Sherwood Park, Edmonton and surrounding areas. Local and virtual accounting services provided in order to help client that is unable to visit locally.

Our experience and qualify team have been providing Accounting and Tax service for many years. When you are looking for a one stop accounting and tax services, we are there to provide a complete solution package for you.

  • Accounting for Farms and Agricultural Businesses
  • Outsourced accounting and bookkeeping
  • Cash basis accounting
  • Budgeting and cash flow management
  • Financial statement preparation
  • Farm income averaging
  • Tax preparation and strategic tax planning
  • Entity selection and business advisor services
  • QuickBooks training & support
  • Capital tax planning
  • Succession planning

Why Choose BOMCAS Canada for Your Farm and Agriculture Accounting?

Choosing the right accounting partner is essential for the success of your farm or agricultural business. BOMCAS Canada offers specialized expertise and a commitment to understanding the unique needs of your operation. Here's why you should choose us:

  • Industry-Specific Expertise: Our team possesses in-depth knowledge of the unique accounting challenges and opportunities in the farming and agriculture sectors.
  • Customized Solutions: We understand that every farm and agricultural business is different. We tailor our services to meet your specific needs, whether you’re a small family farm or a large-scale operation.
  • Comprehensive Services: From basic bookkeeping and payroll to complex tax planning and financial management, we offer a full range of services to support your business.
  • Proactive Tax Planning: We help you develop tax strategies that minimize your liabilities and maximize your profitability. We stay up-to-date with the latest tax laws and regulations affecting the agricultural sector.
  • Local and Accessible: We offer both local and virtual accounting services, making it easy for you to access our expertise no matter where you are located.

Farming and Fishing Income

You may be operating a farming business, a fishing business, or both. If you run both a farming and a fishing business, farming and fishing income includes income earned from activities from either list below.

Farming income

Farming income includes income you earned from the following activities:

  • soil tilling
  • livestock raising or showing
  • racehorse maintenance
  • poultry raising
  • dairy farming
  • fur farming
  • tree farming
  • fruit growing
  • beekeeping
  • cultivating crops in water or hydroponics
  • Christmas tree growing
  • operating a chicken hatchery
  • operating a feedlot

In certain circumstances, you may also earn farming income from:

  • raising fish
  • market gardening
  • operating a nursery or greenhouse
  • operating a maple sugar bush

Fishing income

Fishing income includes income you earned from the following activities:

  • salt water fishing – boat owners with crewshares
  • salt water fishing – boat owners without crewshares
  • salt water fishing – sharesman
  • freshwater fishing – boat owners with crewshares
  • freshwater fishing – boat owners without crewshares
  • freshwater fishing – sharesman
  • animal aquaculture
  • sale of fish, shellfish, crustaceans or other marine products

It also includes income from:

  • grants
  • credits
  • rebates
  • subsidies
  • compensation for loss of fishing income or property
  • other income

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