When you take a step back and look at everything you have worked so hard to build – your legacy – you never want to leave anything to chance. That’s why we’d like to introduce you to Tammy Cox, Leader of Livestock Services for the Thompson Okanagan. Based in Kamloops and with her deep roots in agriculture, Tammy understands the challenges you face – and is here to help.
What’s your agricultural background?
I was born and raised on a cattle ranch in Kelowna. As a kid, I worked on the ranch with my dad and helped manage a 700-head herd. And I was in 4H, of course. Today, I live in Cherry Creek and we grow hay and my kids have 4H steers.
What is the biggest concern you hear from ranchers?
I get a lot of questions about passing on the ranch to the next generation. It’s a big worry, and a hard subject for families to discuss and act on. I help create plans to pass the operation on to the next generation, while minimizing their tax payable.
What is the biggest concern you have for ranchers?
I want to make sure that the ranch can support parents into retirement, while the kids operate it. Many ranches are land rich and cash poor, so it’s vital to figure out what everyone needs – Dad, Mom and the children – so they can be successful and keep the ranch intact. This includes ensuring the ranch is protected by participating in risk management programs.
What do you do for fun?
We’re really enjoying horse riding as a family, and we have four horses right now. I’m also getting into barrel racing and have entered some small local competitions. It’s great learning a new skill as an adult!
Favourite vehicle to drive, agricultural or not?
I love operating tractors, but my big excitement is visiting my cousin’s grain farm in Saskatchewan, so I can run combines.
Contact Tammy
To learn more about succession planning and how MNP can help, contact Tammy Cox, CPA, CA, Leader of Livestock Services for the Thompson Okanagan, at 778.644.5264 or [email protected].