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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FFSC Day 2 – Session 4
The 4th session was presented by Todd Doehring of Centrec Consulting Group on Using the standards with producers and lenders to analyze operations. The top 5% of farmers are now producing about 75% of total crop production or about 120 thousand farmers. The last three years we have been able to insure a profit for […]
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FFSC Day 2 – Session 3
The first session in the afternoon was a panel discussion of three professors from the University of Illinois on using cash versus accrual income. There is a myth that cash versus accrual “averages out over time”. With surgery of about 1,000 farms from 2001 to 2006, they found: 1. Cash versus accrual was about […]
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FFSC – Day 2 Session 2
Our second session was presented by Ron Homann with 1st Farm Credit Services on how to use the ratios and standards. A first level loan may not require a balance sheet or income statements. If the “score” is high enough then a loan of up to $250k or $500k operating loan may be granted. Their […]
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FFSC – Day 2 Session 1
Our first session today was presented by Economics Professor Kevin Waspi of the University of Illinois. He presented a discussion on the Economic and Financial Outlook and some highlights are: Our economic policy is based on the the policyI used in the late 1990’s to help get Japan out of their lost decade. Everybody knows […]
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Farm Financial Standards Council Annual Meeting – Day 1
On Monday, I had a meeting in Milwaukee and then headed down to Bloomington, IL by car. I stopped off in Leland, IL to meet with a client and he took me on a tour of a couple of his fields. Normally, his corn yields would near or exceed 200 bushels per acre. From the […]
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S Corporation Tax Returns Generate A Lot of Income
The IRS on June 21, 2012 released a report regarding their review of S corporation tax returns filed during the five year period ending in 2011. During this period, the IRS audited 53,544 S corporation tax returns. This was a 54% increase over the previous five years. For each return audited, the IRS generated about […]
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Ethanol Makers are Getting Squeezed
The Wall Street Journal issued a report today on how Midwest Ethanol makers are getting squeezed by the rapid increase in corn prices (to read the article, you may need a subscription). Production earlier in the year was running at about 950 million barrels per day. The current run rate is about 800 million barrels […]
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Smithfield Foods to import corn from Brazil
Smithfield Foods, the world’s largest pork producer, said Tuesday it will import corn from Brazil. This is most likely a result of Brazil soybeans being cheaper to import by ship than to transport them by rail to the East Coast. Also, in another report, it appears the Southern Brazil crush operators may run out of […]
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Building US Ag Exports – One BRIC at a Time
We periodically quote publication issued by the Kansas City Federal Reserve. Last month, they issued a report entitled “Building U.S. Agricultural Exports: One BRIC at a Time”. The report is only 10 pages long, but has a lot of good information. Here is a recap of what I found interesting: A chart showing the amount […]
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IRS Required Interest Rates Drop Even Lower
Every month the IRS posts a listing of the required interest rates that parties must put into loan contracts to prevent imputing of interest. For several months, these rates have been dropping lower and lower. For the month of August, short-term notes (less than 3 years) now require an interest rate of .25%. Mid-term loans […]