More about Paul Neiffer
Blog Posts by Paul Neiffer:
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Update to the Update
We update our previous blog post regarding funds available to help farmers facing financial difficulties.
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More Inflation Reduction Act of 2022 Analysis
The Inflation Reduction Act of 2022 has repealed a provision in the Amercan Rescue Plan of 2021 that was designed to help socially disadvantaged farmers. However, there is a new provision that may provide similar relief.
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Smaller NOLs for Two More Years
The Inflation Reduction Act of 2022 has a provision to extend the Excess Business Loss rules for two more years.
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IRS Finally Updates RP Crop Insurance Deferral Options
The IRS finally updated their Farmer Tax Guide to indicate famers can defer the yield portion of revenue protection crop insurance policies. You cannot defer the price portion.
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The Important Stuff – Golf
I have 12 spots available for golf next Monday morning for the AICPA Ag conference and am requesting you send me an email to confirm you are golfing.
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Would a Cash Balance Plan Work for You?
Farmers looking forward to retirement may want to consider a cash balance plan. We go over the details
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HSA – The Triple-Play of Retirement Accounts
A Health Savings Account can be the retirement plan option for a farmer. We review why.
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File FSA-520 Now!
Just a reminder that you need to file your ERP application (FSA-520) by this Friday July 22. The FSA-510 to show farm AGI greater than 75% can actually be filed within 60 days after that date.
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You Now Have Five Years to Make Portability Election
The IRS just issued guidance allowing five years to make a portability election. This is good news.