By Blake Jackson
The Wisconsin Institute of Certified Public Accountants (WICPA) is partnering with the Wisconsin Farm Bureau Federation to explore ways of improving access to accounting services for farmers across the state.
The effort stems from ongoing discussions surrounding programs aimed at supporting young and beginning farmers, as well as helping farm families navigate transition and succession planning.
Throughout these conversations, a common concern has emerged: a shortage of qualified technical service providers to assist with farm transfers and succession efforts.
While legal guidance and family considerations remain important, many farmers report that access to accounting expertise is one of the most significant challenges they face.
To address this need, the WICPA and Wisconsin Farm Bureau are evaluating several potential solutions.
Ideas under consideration include specialized continuing professional education (CPE) and training opportunities for CPAs working with agricultural clients, development of a referral network connecting farmers with accountants familiar with agricultural finance, creation of an affordable farm-transition feasibility review program, and possible legislative initiatives related to farm succession.
“There is no shortage of ideas,” said WICPA President & CEO Tammy Hofstede in a message to members. “The goal is not to hand them a program to react to, but to collaboratively design something that works for accountants to help make farm transitions and succession planning more easily accomplished and feasible for our farmers.”
Individuals interested in volunteering to support these initiatives are encouraged to contact Hofstede at tammy@wicpa.org.
Photo Credit: gettyimages-shotbydave
Categories: Wisconsin, General, Government & Policy