← FarmCPA Home

ObamaCare Survives The Supreme Court!

By: | Trackback URL | 1 Comment

June 28th, 2012

The Supreme Court just issued their ruling stating that ObamaCare is partly constitutional and partly non-constitutional, but the constitutional right of Congress to levy taxes trumps the Commerce Clause.

This was an extremely tight 5-4 ruling with Chief Justice Roberts siding with the 4 more liberal justices.

For  now, the most immediate effect facing farmers is the imposition of the Medicare Surtax on earned income and unearned income starting January 1, 2013.

Even if Romney gets elected, any repeal of this will happen after January 1 and who knows if it would affect this part of the bill or not.

Paul Neiffer

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 partner with CliftonLarsonAllen in Yakima, 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. In fact, Paul drives combine each summer for his cousins and that is what he considers a vacation. Leave a comment for Paul. If you would like to leave a comment for Paul, follow the link above, however, please make sure to include your email address so that he can reply to your comment (your email address will not automatically show up).

More Posts - Website

Follow Me:
Twitter

← FarmCPA Home

1 Comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Subscribe to this blog by:

Previous Posts

Events

View upcoming speaking engagements and other networking events for Paul Neiffer and CliftonLarsonAllen’s agribusiness team.

See All

  • Twitter Feed

    Corn does well in Washington state. 55 at night 95 during the day plus irrigation 1 day ago

    If average cash rents drop $50 this fall and cash return is 2% equals drop in average land values of $2,500. We shall see. 2 days ago

    2 years ago corn + beans + wheat was almost $40. Now it is under $20. 2 days ago

    Great time with @MRRChip today on Market Rally talking about the new farm bill. 3 days ago

    Drove over 2,000 miles in last 12 days. Saw a lot of good looking corn. Beans not so much 5 days ago

    When you drive through Minnesota, South Dakota and Iowa this time of year you see a lot of corn and beans and not much else 2 weeks ago

    Possible another reason for high US corn yield estimates is acres switched to beans were lower yield corn acres 2 weeks ago

    Don't understand why nobody claims the USDA manipulates the data when the report is bullish 2 weeks ago

    USDA pegged lower corn production but if yields trends continue this will quickly change to production increase. 2 weeks ago

    The soybean YO-YO is well underway 2 weeks ago