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

Jan 22, 2020

What We Think We Know About Section 199A

Tax season is upon us and we now need to prepare tax returns for farmers (and other businesses). There were many questions regarding Section 199A in preparing 2018 returns and although we have gotten some answers, many questions remain on calculating the Section 199A deduction (at least based on the
Jan 15, 2020

1099's and Estimated Tax Payments

Just a reminder that Form 1099s need to be prepared and mailed by January 31. These forms are required if payments exceeding a cumulative total of $600 for the calendar year 2019 are made to any unincorporated service businesses. It does not matter if the payment was made via check
Jan 09, 2020

Don't Submit Certain Forms Yet

The Taxpayer Certainty and Disaster Tax Relief Act of 2019 was signed by the President on December 20, 2019 and provided an extension of many tax credits related to Ag. However, the IRS is E-file system is not ready to accept any of the related tax forms to claim these
Jan 07, 2020

Impact to Cooperatives

This post was written by Rebecca Smith, CLA's Director of Cooperative Tax. On December 20th the President signed into law The Further Consolidated Appropriations Act which funded the government through September 30, 2020 and also contained tax provisions which addressed expiring tax credits which are of particular interests to cooperatives
Jan 02, 2020

Farm Tax Network

We hope everyone had a great Holiday time with friends and family. Our first post of the new decade will provide information on our Farm Tax Network (FTN). This is a subscription based service that provides about 10-12 detailed tax memos a year on more complex farm tax related items
Dec 30, 2019

1031 Exchanges

It has been a while since we did a post on Section 1031 exchanges. Tax Reform eliminated the ability for using a tax-deferred exchange on personal property. For farmers in states without an income tax, this actually can result in owing less tax. Here is an example: Jane, a Schedule
Dec 29, 2019

Where's Paul in January

This post will outline where I will be speaking in January. That month is always a very full month for speakers like myself and it is always fun dealing with the joys of winter travel. January 14 - The Land Investment Expo in Des Moines, Iowa. I will be doing
Dec 26, 2019

The Old Kiddie Tax Rules Are Back

Tax Reform changed how the "Kiddie Tax" was calculated for certain children with unearned income. The Kiddie Tax applies to children under age 19 or is a full-time student under age 24. Under the old rules, the child's tax was essentially an extension of the parent's tax. For example, if
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Dec 20, 2019

Paul Neiffer: Should I Rent More Ground?

With tougher economic times, the decision to rent more ground can be problematic. Many farmers assume the ground is too costly. However, this decision really hinges on your definition of costs.