Agribusiness
Audit, tax, and advisory for family farms, agricultural operations, and licensed cannabis businesses that need an accountant who understands how they actually earn and spend.
Overview
Agricultural businesses run on cycles that most accounting firms are not built around: seasonal revenue, heavy equipment spending, inventory that grows or spoils, and owners whose personal and business finances are closely linked. Licensed cannabis operators face a different set of pressures, including federal tax rules that differ from almost every other industry and state compliance regimes that demand clean records. Pease Bell, a Top 200 U.S. CPA firm headquartered in Cleveland, Ohio, brings audit, tax, and advisory under one roof so these businesses can work with one team instead of several.
Our work across the agribusiness practice covers the full life of the operation. We prepare and plan around federal and state tax returns, produce financial statements that lenders and regulators can rely on, and help owners think through entity structure, cash flow, and the eventual transfer of the business. Whether you farm row crops, raise livestock, or hold a state cannabis license, the goal is the same: accurate numbers, fewer surprises at filing time, and advice you can act on.
How We Help Agribusinesses
Farm and Agribusiness Tax
Federal and state return preparation and year-round planning for farm operations, including income timing, depreciation strategy, accounting method review, and the elections that are specific to agricultural taxpayers.
Cannabis Tax Compliance
Tax preparation and planning for licensed cannabis businesses, with attention to IRC Section 280E, cost of goods sold documentation, and the federal scheduling changes that may affect how deductions are treated.
Audits and Reviews
Audited, reviewed, and compiled financial statements prepared to the standards lenders, investors, and state licensing authorities expect, with clear communication about what each level of assurance does and does not provide.
Lender and Banking Support
Financial statements, projections, and covenant reporting that help operating lenders, equipment financiers, and banks understand the business, so credit renewals and new borrowing requests move with fewer follow-up questions.
Entity and Succession Planning
Guidance on entity choice, ownership structure, and multi-generational transition planning, coordinated with your attorney, so the business and its land can pass to the next owner with fewer tax and family complications.
Outsourced Accounting
Bookkeeping, monthly close, inventory tracking, and controller-level support for operations that need reliable books but do not have, or do not want to build, a full internal accounting department.
Explore Agribusiness
Challenges We Help You Address
- ✓Seasonal and uneven cash flow that complicates tax planning and lender reporting
- ✓Large equipment and building purchases with depreciation choices that affect multiple years
- ✓Federal tax limits on cannabis deductions under IRC Section 280E
- ✓State licensing and regulatory reporting that require dependable financial records
- ✓Transferring a family operation to the next generation without disrupting it
Featured Insights
Frequently Asked Questions
Do I need a CPA that specializes in agriculture?
It helps. Farm and agribusiness taxpayers have rules that most businesses never touch, such as Schedule F reporting, farm income averaging, and special accounting method options. A CPA who works with these rules regularly is more likely to spot elections and timing choices that fit your operation, and to prepare financial statements in a format your agricultural lender recognizes.
Can a CPA firm work with a licensed cannabis business?
Yes. Many CPA firms, including Pease Bell, provide tax, audit, and accounting services to state-licensed cannabis operators. The work requires familiarity with IRC Section 280E, careful cost of goods sold accounting, and awareness of ongoing federal rescheduling developments, which may change how certain businesses are taxed. We help clients keep records that support their filings either way.
What accounting services does a farm need?
Most farms need annual tax preparation and planning at a minimum. Many also need financial statements for their lender, help with depreciation and equipment purchase timing, payroll support, and periodic advice on entity structure. Larger or multi-entity operations often add outsourced bookkeeping, reviewed or audited financial statements, and succession planning as the owners approach a transition.
How does Pease Bell work with agricultural lenders?
We prepare financial statements, projections, and supporting schedules in the form lenders typically request, and we can answer their questions directly with your permission. The aim is to give your banker a clear, consistent picture of the operation each year, which can make annual renewals, operating lines, and equipment loans easier to process.
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