Wondering who has had experience with FBC? I can see that they are more expensive, but potentially offer more services than straight up income tax returns. Are they worth the money in your opinion? Perhaps it’s more advantageous to use them if you have a large farm? We’re just a small market garden right now. What’s a reasonable amount to have farm income tax done annually? Open to thoughts and experiences. Thanks.
We had ours done by a registered CPA in London and he’s been pretty good, except for this one time I wanted to claim some very specific expenses (food donations) and he almost filed without putting them in because he had no idea what they were or that there was a write-off for them. So I had to step in and convince him that they were a legit write-off. All this to say, you’re most likely better off with someone that has at least some experience filing for farm operations, it doesn’t have to be someone from FBC, ask other farmers for a local accountant and maybe you’ll save some money and get someone that knows everything a farm operation entails.
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We have used FBC for a number of years and have been happy with their service. Have never been audited but if you are FBC will represent you. I also appreciate being able to call them throughout the year for advice as part of the membership and their team approach to save you tax dollars.
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I interviewed FBC when I was looking for a farm accountant but went with a conventional farm specific accounting firm instead. FBC were looking for about $1000 per year for my new small farm. My accounting last year was less than a third of that, IIRC. The firm I’m with is called Baker Tilly in Guelph (they just changed their name).