Farm/Winery Set-up Separate to Maximize Farming Grants | Bookkeeping, Accounting & Tax Services | Fonthill, ON

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Farm/Winery Set-up to Maximize Farming Grants


If you have a farm and a winery and want them set-up in a way that will maximize farming grants, the best thing to do is to keep the farm and the winery separate.


Your Farm/Winery

If you have a farm and a winery, you would want to organize them as two separate entities. 

The winery operation would usually be incorporation. The farm would be held by the family, or also be incorporated depending on the size and profit of the farm, and haow much equity you have in the property.

Farm - Winery Accounting

Incorporation

Incorporating provides a lot of legal protection in the event that something undesirable happens which results in liability.

AgriStability and AgriInvest

A second important reason to run your farm and winery as two separate operations is to be sure that you are maximizing your entitlements under AgriStability and AgriInvest.

Keep Farm and Winery Separate

You will want to keep your farming input costs and revenue separate from the costs of running the winery.

As two separate operations it is possible to have a good year as a winery based on existing inventories, and still have a bad year crop-wise. As two separate entities your farm would qualify to make a claim a claim under AgriStability.

Contact us for more advice on maximizing your entitlements under AgriStability and AgriInvest.

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