Year-End Tax Planning and Financial Confidence on the Farm

“If cash is king, cash flow is queen.”  In this episode of Farming on Purpose, I sit down with Tressie Mitzner, economist with Kansas Farm Management, to talk about the side of ranching and farming that no one gets excited about—but everyone needs to understand: taxes, recordkeeping, and financial strategy.  Tressie shares how she and her husband built their cow-calf operation from the ground up, why clean records matter more than most producers realize, and how to navigate high- and low-income years without losing sleep. She also breaks down some of the biggest tax code changes coming in 2025–2026 and how they’ll impact family operations across rural America.  Whether you’re new to managing your farm’s books or just ready to take a more confident approach to your financial decisions, this episode will leave you with clarity, encouragement, and a few practical to-dos you can start right away.    Key Topics:  Year-end wrap-up tips for farm and ranch businesses    Managing 1099s, W-2s, and reconciling accounts correctly    Tracking capital assets and depreciation with confidence    Understanding high- vs. low-income year strategies    Smart planning for land, equipment, and future growth    Upcoming 2025–2026 tax updates every producer should know    Finding grace and rhythm in your recordkeeping routine    You’ll walk away from this episode ready to head into tax season with a plan—and a little less dread.      Connect with Tressie  Tressie welcomes questions and conversations from fellow producers and ag professionals.  📧 Email: [email protected]    LINKS  Sign up for the 8-Hour Marketing Plan here!  Marketing Routine class, do so here!  Join the Farming On Purpose Facebook group and visit the Farming on Purpose merch page.  Check out our favorite software tool for online sales: Thrivecart  I may earn affiliate commissions from links on this page.  Other Episodes You May Enjoy:     Episode 87: Farm Succession Planning: Securing Your Family's Legacy  Episode 8: Shifting Seasons in Motherhood and Ranching with Richelle Barrett  Episode 19: Homesteading Skills with a Farm Family with 14 Hands Ranch     About the Host of Farming On Purpose, Lexi Wright:     I’m your host, Lexi Wright. I started the Farming on Purpose Podcast from a passion for sharing the future of production agriculture.     Connect with me on Instagram, Facebook, and TikTok.