Fulton County Farm Bureau member Keith Truckor knows profit margins can be slim some years, and he’s always looking for ways to save money. One of those ways is by participating in AgriPlan/BizPlan, one of Ohio Farm Bureau’s many member benefits.
AgriPlan allows qualified small business owners to declare medical expenses as a business expense rather than a personal deduction. Truckor estimates he saves about $5,000 per year using this program. He said participating in AgriPlan/BizPlan is easy and makes sense for his grain business.
“Every little bit helps,” Truckor said. “All those tax savings add up and it’s nice to see the end-of-the-year statement that shows how much I saved. There’s an annual fee but the amount of money I save is 10 to 20 times more than that. It’s been a great program for my business.”
TASC is the third party administrator for AgriPlan/BizPlan.