Sep 21, 2014
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The Farm CPA

RSS By: Paul Neiffer, Top Producer

Paul is now part of the fourth generation in America that is involved in farming and hopes the next generation will be involved also. Through his blog he provides analysis and insight to farmer tax questions.

Roger's Top Ten

Jan 06, 2014

Roger McEowen from Iowa State University and their Center for Agricultural Law and Taxation (CALT) just listed his Top 10 Ag Law and Taxation Developments for 2014.

Leading off Roger's Top 10 list is his favorite Tax Court case of 2014 (sarcasm intended), the Morehouse case. We have posted on this Case before and Roger and I both agree that the Tax Court is likely off base on their decision. However, this case is under appeal and if the appeal does not work, then this will be the law for those farmers and landlords receiving CRP income. Under this case, all CRP income will be subject to self-employment tax (an exception for those receiving social security).

Roger's next item concerns the introduction of the 3.8% net investment income tax mandated by Obamacare. We have done several posts on this subject and Roger has a good review of the tax and its implications. Roger then covers the following topics:

  • Clean Water Act Developments,
  • Unconstitutional "takings" cases and the effect on property rights,
  • Legal issues surrounding patented seeds,
  • Special Use valuation and some of the pitfalls,
  • "Climate Change" litigation,
  • No free pass for "biogenic" carbon dioxide gas emissions,
  • The importance of hiring an "Ag" lawyer in certain situations,
  • Iowa Legislature wipes out Iowa State Supreme Court decision on state recreational use statute.

I think you will enjoy reading his analysis. On another note, I will be helping Roger with a two day Ag Tax CPE in West Baden Springs, Indiana in early June of this year. Later in the month, we will be in West Yellowstone, Wyoming doing another two day session. These CPE sessions are designed for CPA's, attorney's or anybody interested in getting updated on farm and estate taxation and they are a lot of fun and even better informative. If you are interested in attending, simply click on the link shown for the site you want and sign up.

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