Paul NeifferThe Farm CPA Blogger

Paul Neiffer is an agribusiness CPA and business adviser and specializes in income taxation and accounting services specific to the farm community. This includes succession planning issues and opportunities related to taxes and compliance. Paul writes a monthly tax column for Top Producer and blogs at AgWeb.com. He was raised on a dryland wheat and pea farm in Washington. He recently purchased a 185-acre farm. Driving his cousin’s combine is his idea of a vacation.

Paul Neiffer is an agribusiness CPA and business adviser and specializes in income taxation and accounting services specific to the farm community. This includes succession planning issues and opportunities related to taxes and compliance. Paul writes a monthly tax column for Top Producer and blogs at AgWeb.com. He was raised on a dryland wheat and pea farm in Washington. He recently purchased a 185-acre farm. Driving his cousin’s combine is his idea of a vacation.

Articles By Paul Neiffer

Sep 21, 2020

How Much Would the Typical Farmer Receive from CFAP2

Someone asked me how much a typical farmer should receive from CFAP#2. Now it is tough to say what a typical farmer is, but I will show various scenarios that I hope will cover many of the farmers that read this blog. Remember that corn farmers get 23.2 cents per
Sep 18, 2020

CFAP2 Livestock and Other Update

For cattle and hog producers the calculation of inventories is a little different than first expected. The CFAP2 rules have been posted to the federal register. The fourth page of the rules shows how livestock payments will be calculated. For beef cattle, it is the LESSER of: Maximum inventory of
Sep 18, 2020

CFAP2 Details

USDA just released the details on CFAP2. This will be a program separate from the first CFAP and will have separate payment limits of $250,000 per entity per person. If you farm as an LLC, corporation or other limited entity, you can qualify for up to two additional limits or
Paul Neiffer
Sep 17, 2020

Is FSA Tightening Rules on Active Management?

It now appears each family member will be required to maintain a log showing at least 500 hours of active personal management or will need to document they are providing at least 25% of total management hours.

Sep 16, 2020

FFCRA

You may be asking what is FFCRA. It stands for Family First Coronavirus Response Act and it was passed earlier this year right before the CARES Act. Vanessa Bechtel and I did a Ag Insights video on some of the key features related to FFCRA. I had an email a
Sep 15, 2020

Tax Info by Zip Code

The IRS each year provides certain income tax data based upon Zip Codes. They recently released the data for 2018. There is quite a bit of information listed by the ZIP Code. For example, you can determine the following information: Number of returns filed (individual income tax returns), Number of
Sep 10, 2020

What's Most Important?

Today's blog post will not cover any farm tax issues. Instead, I will tell a couple of stories about what can be more important than taxes, accounting or even farming. I spent the weekend with my oldest son, his wife and my 20 month old granddaughter (my only grandchild but
Sep 02, 2020

More Farm Relief from States and Local Governments

Toni Moeller out of our Rochester, Minnesota office worked up most of this blog post. Beyond Federal PPP loans, tax credits, and other COVID-19 funding options, we are beginning to see grants that apply to agricultural businesses at the state and county levels too. It’s important for operations to be
Sep 01, 2020

Deferring Employee FICA May Not Make Sense

President Trump provided an executive order to allow employers to defer the employee portion of FICA (the 6.2% tax payroll tax rate) paid between September 1, 2020 and December 31, 2020. But as we get more details including the IRS issuing Notice 2020-65 on Friday of last week, it appears