Farmers love to work, that much is known. If you don't love being outdoors, working the land and producing a crop, you'd certainly be more comfortable in another profession, because farming isn't your calling. However, no matter how much any farmer loves what he does, the idea of one day enjoying a well earned retirement is appealing. Unfortunately, some producers feel locked into farming until the day they die, simply because they feel like retirement will never be an option for them. Quite often, taxes are at the heart of that belief.
Water Street Solutions Director Jason Ladman shares the story of just such a producer, who believed that he would never be able to afford retirement because of the enormous tax burden. His CPA was little help, but when he spoke with a proactive tax and legacy advisor who specialized in this very sort of thing, he was shocked to find out that not only was retirement a reasonable goal, but that it was actually achievable within just a few years once their newly drafted retirement tax strategy was in place.