Homesteading, Organic Gardening, How to Farm, Preparedness, Self-Reliance
One way to approach this is to treat your business (the farm) separate from your personal life. You'll be doing that to some degree by creating an LLC so that's a good start. Regarding cash, think of it this way. You as an individual are LOANING money to the business, the LLC. So do that and even write the agreement. Have an accountant reflect the loan in Quickbooks or whatever you use. Keep a credit/debit card separate for the business linked only to the farm account. Otherwise you'll combine everything and it's pretty hard later, from a liability perspective, to claim that your personal life is separate from the business if everything is comingled.
Having offered up these nuggets of wisdom please remember that I am neither a lawyer nor an accountant so you shouldn't rely on my advice. Seek someone capable in your area, but hopefully this will be of help.
Dusty provides some really good advice above. One other option you have is consulting a professional, for FREE. I'm referring to SCORE. Their website describes what they do;
SCORE is a nonprofit association dedicated to educating entrepreneurs and helping small businesses start, grow, and succeed nationwide
I have used them for legal advice, business structure advice and many other things. You can find a local mentor, again, for free, that will act as a mentor to you. They even have mentors/specialists that will assist you with specific issues, like the business structure issue. They can also provide help with taxes, accounting, and legal issues. Along with Dusty's suggestions this should help you out!
I am also a huge advocate for buying an hour of time from both a laywer and an accountant. I promise you, you will save more money in the long run than if you don't! A laywer can give you expert advise in how to set up your business structure AND help you prevent any unwanted lawsuits in the future. An accountant will help you also with the business structure and will explain the tax benefits for each, and also help you know what can be depreciated etc. to help you pay less taxes. I would bet you would actually get your money back in the first year, and even come out ahead.
Is the manasota site free?
I know I can buy time from lawyers and accountants, but I thought I'd try here for some free advice. That's what this site is for, right?
and you get what you pay for ;)