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:
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Are Land Value Increases Flattening Out?
The Federal Reserve Bank of Chicago produces a quarterly newsletter on farmland values for their district which comprises, Illinois, Iowa, Indiana, Michigan and Wisconsin. Their latest report seems to indicate a flattening of the rapid farmland price increases we have seen over the last few years. although prices were up 17% on an annual basis, […]
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Health Care Exchanges are Coming (whether you are ready or not)
My friend Dick Wittman farms in Northern Idaho and also does part-time consulting for farmers and their families. I just came across a blog post that he published last week in the Idaho Business Review that I thought gives a very fair view of what the health care exchanges mean to his farm and family. […]
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What’s my tax on selling equipment?
We had a reader ask the following question: “If I sell my personal property that is all depreciated out.What will my tax be?” As with most tax questions, the answer is “It depends”. If you sell equipment for a sales price less than the original cost, then this gain is considered to be a Section […]
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Installment Sale Update
We have gotten some feedback to our installment sale post of yesterday and this post will clarify some of those questions and feedback. First, if the land being sold is an active part of a schedule F farm business, then it should not be subject to the 3.8% net investment income tax as shown in my […]
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Section 179 Crystal Ball
We had a reader ask the following question: “What is the Section 179 amount for 2013 and what will the amount be for 2014?” The first part of the question is easy to answer. For 2013, Section 179 is $500,000 and it starts to phase-out as your equipment purchases exceed $2 million. Section 179 applies to all […]
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The Power of Installment Sales
We had a reader ask the following question: “I plan to sell some land this year. Will my tax liability be less if I take payments from the buyer over several years?” Before answering this question, lets review how an installment sale works. Instead of owing all of the tax in the year of sale, […]
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Midwest Crop Tour – Last Day
On Thursday, we finished up the samples for the Midwest crop tour. The Eastern leg took samples primarily in Eastern Iowa, while the Western Leg took samples in Southern Minnesota. For all of the data collected on the tour, you can go to www.agweb.com and check out the results. The biggest observation for today is […]
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Midwest Crop Tour – Day 3
Today, we left Bloomington, Illinois bright and early (other than having to jump-start the Ag Day Pickup) and headed due north for about an hour before starting the route. We then traveled north to slightly above DeKalb and then headed due west to Savanna, Illinois right on the Mississippi River, where we crossed into Iowa. […]
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Day Two of Midwest Crop Tour
Today, we left Fishers, Indiana and headed due west and then north towards Kokomo. Most of the corn samples we took between Tipton (where we started our sampling) were very good. Most of the yields were in the 185 to 220 range. Soybean counts were above the three-year average. Our highest corn count in Indiana was […]
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First Day of the Midwest Crop Tour
We left Columbus, Ohio this morning at 7 am and headed west. It was tough going the first couple of hours with the suburbs and humidity cloud to get any samples in, but we finally got some samples. Our lowest of the day was 53 bushels in Drake County but as usual on the crop […]