Adam Pukalo

| We help farmers with their wealth and succession plan |

[Adam Pukalo @Adam_Pukalo]

GIC's are not paying what they used to. Know your alternatives.

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[Adam Pukalo @Adam_Pukalo]

The retirement tax problem you should worry about may not be today's tax bill—it may be the tax bill your estate eventually receives.

For some farm families, your estate can create one of the largest tax bills they've ever paid.

Want to know what to do? https://t.co/2Aw0WvSssU

[Adam Pukalo @Adam_Pukalo]

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[Adam Pukalo @Adam_Pukalo]

Many farmers spend decades contributing to RRSPs.

But eventually, those RRSPs become RRIFs, and minimum withdrawals begin.

Effective decumulation planning isn't focused on the next twelve months. It's focused on how taxes, income, and assets interact over the next twenty years.

[Adam Pukalo @Adam_Pukalo]

Many retired farmers have more than enough assets to create retirement income.

Land rent, investments, CPP and OAS etc.

Just like crop rotations work best when planned over multiple seasons, retirement income works best when it's viewed as a long-term strategy.

[Adam Pukalo @Adam_Pukalo]

https://t.co/AFgXAooBQ2

[Adam Pukalo @Adam_Pukalo]

Most farmers have a plan for building wealth.

Far fewer have a plan for spending it.

If retirement is within the next ten years, it may be worth asking not just how much you've built, but how you're going to use it.

[Adam Pukalo @Adam_Pukalo]

With harvest approaching, many Canadian farmers are thinking about cash flow, operating credit, and how to position themselves for the year ahead.

What if one of the most overlooked investment opportunities on your farm isn’t an investment at all?

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[Adam Pukalo @Adam_Pukalo]

Our team sees the strongest farm financial plans aren't built around a single product or strategy.

They're built around understanding how multiple tools work together to support the farm and the family over time.

What type of strategies is your financial advisor bringing you?

[Adam Pukalo @Adam_Pukalo]

This is such a great article for many reasons.

You need to find an advisor that suits you and your farm.

My favorite line is “a great advisor relationship has a respectful push and pull” – I’d like to think that is our relationships with clients.

https://t.co/bMe6W8XuBD

[Adam Pukalo @Adam_Pukalo]

Most farmers are familiar with the Cash Advance Programs.

Usually, producers use it as a source of operating capital to help manage cash flow between harvest and grain sales.

Have you considered how you can invest those funds instead?

[Adam Pukalo @Adam_Pukalo]

Is all your wealth tied up in the farm?

When most of your net worth is tied to a single business and a single industry, you're taking on a different type of risk.

Off-farm investments can help you diversify now while creating financial planning options later in life.

[Adam Pukalo @Adam_Pukalo]

Have you stress tested your operations finances?

What would happen to your farm if interest rates went up or commodity prices fell?

The goal isn't to predict exactly what is going to happen, but to understand how you would respond if things don't go according to plan.

[Adam Pukalo @Adam_Pukalo]

I've seen two farmers can retire with the exact same amount of money and pay very different amounts of tax.

The objective isn't necessarily to pay the least tax this year.

It is often to pay the least amount of tax over your entire retirement while maintaining your lifestyle.

[Adam Pukalo @Adam_Pukalo]

Do you have a farm decumulation plan?

Many farmers reach retirement with a combination of farmland, a farm corporation, RRSPs, and government benefits.

The goal isn't simply to have an income in retirement—it’s to create a strategy that works tax efficiently and lasts.

[Adam Pukalo @Adam_Pukalo]

Would you buy a quarter section and then leave it unproductive?

That's what can happen when corp cash sits idle year after year.

I'm not saying every dollar should be invested.

Identify what you need for operating flexibility, then consider alternatives with excess capital.

[Adam Pukalo @Adam_Pukalo]

If your farm corporation has built up significant cash over the past few years, you may think that's a sign you're doing everything right.

But here's a question: Is that cash working as hard as you are?

[Adam Pukalo @Adam_Pukalo]

Often we see that farms making the best financial decisions are stepping back and asking one simple question: “How does this decision affect everything else?”

When decisions are coordinated—grain marketing, corporate income, RRSPs, cash flow—they tend to reinforce each other.

[Adam Pukalo @Adam_Pukalo]

What would happen to your farm if you were to pass away tomorrow?

There could be pressure on debt, disruption to cash flow for your family, or even difficult decisions around selling land or assets just to keep things going.

Learn about the solutions:
https://t.co/kiUlGXZejX

[Adam Pukalo @Adam_Pukalo]

The biggest thing to understand with RRSPs is that you get a tax deduction today, but that money is taxed when it comes out.

Try to contribute when you’re in a higher tax bracket and withdraw when you expect to be in a lower one. That doesn’t always line up perfectly for farms

[Adam Pukalo @Adam_Pukalo]

I often get the question from farms, “should I contribute to an RRSP?”.

One take: Farming income isn’t consistent. In strong years, RRSP contributions can help reduce taxable income while building savings outside the farm. You can also withdraw the money in lower income year.