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Tax Calendar...
I know my taxes are different than my loans, which are different from my crop insurance, but it’s still all in the same location.
“My dad cosigned a loan so I could buy a show heifer, and she abruptly dropped dead,” Grady shared sadly. “Thankfully she was insured, so we bought another one right after that.”
“Grady is very good dairyman, he’s a great guy, and he’s really stepped up his business acumen over the years,” Corey said. “His work with his dairy analyst has also helped him perform even better.”
This stunning experience didn’t sour him on the entire animal showing scene, as he met his wife Sarah at the county fair.
Corey worked with Grady through some tough times on the farm, including in 2018 when a blizzard caused their barns to collapse.
“She asked to wear my jersey – football, not cow,” Grady joked. “She also grew up on a progressive farm in Wisconsin. Now, our family shows heifers all over.” One stop shop
Eventually, along with the existing lending partnership and tax and accounting services, Grady also switched his crop insurance provider to GreenStone. “I was always talking to Robert Netrefa, the GreenStone crop insurance specialist, about what decisions to make even though I was buying it through someone else,” Grady said. “I went to a GreenStone conference where he was the speaker, and I thought he had great knowledge about what was going on.”
“I was given another shot to do it correctly, and I took it,” Grady said.
“Certainly the advantage is that it’s a onestop shop,” Grady said. “I know my taxes are different than my loans, which are different from my crop insurance, but it’s still all in the same location.”
“I was picking up my son from daycare, so no one was home,” he said. “I’d thrown laundry into the dryer before I left. We drove home and saw the house was on fire, and it was a total loss.”
Clintonville has a new office building, which features lots of glass to create an open atmosphere.
Happily, they were able to rebuild in a location closer to the farm.
Corey Fanslau is VP of traditional lending at GreenStone, and he’s been working with Grady for over ten years. 37
Despite the unfortunate event, Grady made the most of his circumstances and took the opportunity to make his barn even better. The new barn is able to hold more weight, is stronger and wider, and has improved lighting.
Beyond tax and accounting support, plus the insurance, Grady uses GreenStone for financing.
Cleaning up
Summer 2022 — Partners
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“I haven’t done laundry since,” Grady joked. “Better safe than sorry.” Grady and Sarah now have four children – Griffin (13), Emery (10), Macy (7), and Brynn (2). Grady really enjoys his time on the farm with his kids and nephew, whether they’re feeding calves or setting off bottle rockets.
Non-farm employers file Form 941 for the 2nd quarter to report Social Security, Medicare, and withholding. Form 5500 is due for all employers that maintain an employee benefit plan, such as a pension plan. If not able to file, file form 5588 to request an automatic 2.5 month extension.
SEPTEMBER
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3rd quarter estimate due for 2022 for individuals that pay estimated taxes. S Corporations file a 2021 calendar year income tax return (Form 1120S) if you requested an automatic extension.
“We had to send half of our cows to another farm to be milked. For four months, since our income was down, we only paid interest,” Grady said. “That was Corey’s idea. He knew we’d rebuild and get our cows back.”
Grady has experienced more than his share of natural disasters on his farm, including a pile of bales that was struck by lightning, a shed that burned in 2005, and tragically, a house fire in 2010.
“It’s just like going to the supermarket,” Grady said. “I like this, and this, and I can get this – all in one place.”
AUGUST
Partnerships file a 2021 calendar year income tax return (Form 1065) if you requested an automatic extension Corporations deposit 3rd installment of estimated tax for 2022.
OCTOBER
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Individuals file a 2021 income tax return (Form 1040) if an automatic extension was requested Corporations file a 2021 calendar year tax return (Form 1120) if you requested an automatic extension. Non-farm employers file Form 941 for the 3rd quarter to report Social Security, Medicare, and withholding.
“We also like to go to our children’s events, which is a full time job,” Grady said. Grady looks forward to continuing his partnership with GreenStone, and he is confident his GreenStone team will be ready to assist him in his good times and his notso-good times – even though his attitude remains unchanged. “Some years the farm makes money, some years it doesn’t – I’m not complaining,” Grady said. “If we don’t make any, I have less tax work to do.” ■