Ag Insights: Year-End Tax Planning
I wish that we could have provided guidance on whether expenses related to PPP loan forgiveness are deductible but Congress has not yet passed a new stimulus bill that may deal with that subject. Therefore, year-end tax planning is still a little murky.
Chris Hesse, the chair of the AICPA Tax Committee will join me next week in doing another Ag Insights on where we stand with PPP loan forgiveness and how we should plan for this and other related items.
On a personal note, our last post on “Winter is Beautiful” received the most comments that I can remember in the almost 12 years we have been doing the blog. Every comment was appreciative of the thought behind the video and I personally am wishing everyone a wonderful holiday season (especially this year) and am looking forward to the new year.
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.
Paul-am wondering if you received my post from this morning? It doesn’t show here-so I don’t know if it went to you? Deb