Beaumont Alberta Farm and Agriculture Accountant – BOMCAS Canada

BOMCAS Canada, a leading accounting firm, offers specialized services tailored for farms and agricultural businesses in Beaumont, Alberta. Our expertise includes bookkeeping, payroll for various business sizes, and tax preparation and filing for corporations, sole proprietorships, and individual personal tax clients. We serve clients throughout Beaumont, Edmonton, and surrounding areas with both local and virtual accounting services.

With our experienced and qualified team, we're committed to providing comprehensive and reliable accounting and tax services. If you are looking for a trusted partner in managing your finances, BOMCAS Canada provides a complete and tailored solution for you.

Why Choose BOMCAS Canada for Your Farm & Agriculture Accounting?

Choosing the right accounting firm is essential for the success of your farming or agricultural business. BOMCAS Canada offers a combination of specialized knowledge and personalized service designed to meet the unique demands of this industry. Here’s why we are the best choice for your accounting needs:

  • Industry-Specific Expertise: Our team possesses extensive knowledge of the farming and agricultural sector, enabling us to understand your specific challenges and opportunities.
  • Comprehensive Service Range: We offer a full range of services, including bookkeeping, payroll, tax preparation, and strategic financial planning. We are your one-stop solution for all your accounting needs.
  • Personalized Approach: We understand that every farming and agricultural business is unique. We offer personalized service tailored to your specific needs, goals and financial situation.
  • Proactive Tax Strategies: We don't just prepare your taxes, we provide proactive tax planning to minimize liabilities and maximize your profitability.
  • Accessible and Reliable Support: We are here to support your business and provide reliable and accessible services to all our clients.
  • 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

Understanding 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 crew shares
  • salt water fishing – boat owners without crew shares
  • salt water fishing – sharesman
  • freshwater fishing – boat owners with crew shares
  • freshwater fishing – boat owners without crew shares
  • 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

Frequently Asked Questions (FAQs)

What types of accounting services do you offer for farms and agricultural businesses in Beaumont?

What makes your accounting services unique for the agriculture industry?

Do you provide assistance with QuickBooks and other accounting software?

What support do you offer for tax planning and preparation?

How do you handle succession planning for farming businesses?

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