More about Paul Neiffer
Paul Neiffer is a certified public accountant and business advisor specializing in income taxation, accounting services, and succession planning for farmers and agribusiness processors. Paul is a principal with CliftonLarsonAllen in Walla Walla, Washington, as well as a regular speaker at national conferences and contributor at agweb.com. Raised on a farm in central Washington, he has been immersed in the ag industry his entire life, including the last 30 years professionally. Paul and his wife purchase an 180 acre ranch in 2016 and enjoy keeping it full of animals.
Blog Posts by Paul Neiffer:
-
Employer Mandate Delayed for One Year
One of the major initiatives of ObamaCare was the mandate for employers to either provide health insurance or face possible extremely steep penalties for not providing health insurance or providing insurance that was too costly. This mandate was to take place starting January 1, 2014. The mandate applied to employers with 50 full-time equivalent employees. […]
-
CRP in an S corporation?
We had a reader ask the following question in response to our posts on CRP payments being subject to SE tax: “What about CRP income that is earned by an S corp which only rents out farmland and also collects CRP income. Will that CRP income be subject to SE tax while the land rent […]
-
Remember, Corn is Not Just Grown in the Corn Belt
With today’s release of the USDA acreage report, it is becoming more apparent that the production of corn is rapidly expanding outside of the corn belt. North Dakota (3.9 million acres) for 2013 has almost planted as much acreage to corn as Ohio (3.95 million acres). My father was born in South Dakota and was […]
-
Some Eager Participants on Day 1 of Santa Fe
We had a great first day of farm income tax discussions in Santa Fe. Roger and I had a lively discussion of the Morehouse court case and we both agree that this might be one of the worst farm tax court cases we have seen in the last 20 years. We hope that it gets […]
-
Start of Day 1 of the Santa Fe Seminar
A shot of the crowd eagerly awaiting the start of Day 1 of the Santa Fe farm tax seminar.
-
Getting Ready For Santa Fe
My wife and I made the trip from Seattle to Santa Fe today. Southwest actually has a nonstop flight from Seattle in Albuquerque that takes less than 3 hours and then it is only an hour drive to Santa Fe. I knew we were getting higher in elevation and I decided to download the “Elevation” […]
-
A Lease Qualifies For Like Kind Treatment But Watch the Fine Print
A recent court case (VIP Industries, Inc.) spelled out the right and wrong way to exchange a lease for real property. Under Section 1031 you can exchange real property for real property. One of the rules indicates that a lease with 30 years or more left on the lease will qualify for like kind treatment. […]
-
Semantics Can Be Important
It has been brought to our attention that certain AGR crop insurance policy claims are being denied. These claims are being made by a single member LLC which is being filed on a schedule F on the farmers personal tax return. An AGR policy is based upon the gross revenue of the farm operation. A […]
-
My Trip to the Midwest
I flew into Kansas City on Thursday for three meetings on Friday with some of our farm clients. These meetings were productive, but the best part of the trip was on Saturday when I traveled from Kansas City to near Westboro, Missouri which is almost on the Iowa border. I met one of our farm […]
-
Your CRP Income May Be Subject to SE Tax
In the Morehouse Tax Court case just issued yesterday, the court ruled that the receipt of CRP payments by a non-farmer are subject to self-employment taxes. The case involved a taxpayer located in Minnesota who inherited property in South Dakota and continued to invest in additional farm land in that state. At all times, the taxpayer never […]