About: Paul

Profile

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.

Articles by Paul:

  • Another Tax Season Bites the Dust

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    April 15th, 2014

    I am waiting for my oldest son’s age to finally surpass the number of tax seasons I have completed.  He is 27 (and working at a CPA firm in Costa Mesa, CA) and his little brother, age 25 works at Price Waterhouse Coopers in downtown LA (there is a chance he gets to spend 3 […]

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  • Social Security, Treasury Targets Taxpayers for Their Parent’s Decades-Old Debts

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    April 14th, 2014

    According to a recent Washington Post article, the Treasury Department has been seizing tax refunds or demanding payment from hundreds of thousands of Americans on some very old debts due to a single sentence in the 2008 farm bill that removed the 10-year statute of limitations on debt owed to the government.  Since 2011, the […]

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  • Trusts Can Get You in Trouble

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    April 10th, 2014

    In a Tax Court filing from last week (Estate of Elwood H. Olsen, TC Memo 2014-58), we find how much tax can be owed if taxpayers do not administer trusts correctly.  In the case, Mr. Olsen passed away in 2008 at the age of 92.  In 1994, Mr. Olsen and his wife Grace each formed […]

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  • Farm Bill Webinar

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    April 9th, 2014

    This morning at 10 am Central Time we had an one hour webinar on the new farm bill.  We had several hundred people accessing the webinar and based upon the amount of questions that came over the screen as I was discussing the farm bill, this appears to be a very hot topic right now. Since there […]

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  • Patronage Dividend Notices Can Be Sent by Email or Posted to a Website

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    April 3rd, 2014

    Roger McEowen from the Center for Agricultural Law and Taxation (CALT) posted earlier this week on a recently issued IRS private letter ruling (PLR 201413002) allowing a cooperative to provide notice by email or a posting to their website instead of mailing all notices by regular mail.  In order for Cooperatives to get a deduction for […]

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  • Senate Finance Committee Proposes Two-Year Extension of Section 179 and Bonus Depreciation

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    April 3rd, 2014

    Senator Ron Wyden (D – Oregon), chairman of the Senate Finance Committee has submitted a bill to extend many of the provisions that automatically expired at December 31, 2013.  Of special interest to farmers is that Section 179 would be retained at the $500,000 level for 2014 and 2015 AND 50% bonus depreciation would be extended […]

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  • Very Limited Availability for AICPA Ag Conference

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    April 1st, 2014

    This post is primarily for our CPA readers out there.  I was just informed yesterday that there is extremely limited availability for the AICPA Ag Conference that will be held in Austin on May 7 to May 9.  If you are interested in attending, here is the link on the AICPA site to sign up.  […]

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  • Leave a Legacy (#44)

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    March 30th, 2014

    I had the privilege about two weeks ago to make a quick trip to the Kansas City area to do taping for Leave a Legacy.  Leave a Legacy is a Farm Journal Media presentation focused on succession planning for farmers and is headed by Kevin Spafford.  About three years ago, I had taped an inside episode […]

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  • Taxpayer Victory in Frank Aragona Trust Case

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    March 27th, 2014

    The US Tax Court released today their long anticipated decision in the Frank Aragona Trust case.  The background on the case is as follows: The Frank Aragona Trust was formed by Frank Aragona during his lifetime and after his death, the trustees of the trust were his five children plus an independent trustee.  Three of the children […]

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  • Painful Form 8879 Process is on its Way

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    March 26th, 2014

    Almost all of our tax returns that we prepare for farmers are now being electronically filed with the IRS and related state taxing authorities.  The form that we need from the client in order to electronically file the return is Form 8879.  This form must be signed by an appropriate person for entities and then […]

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    When "bullish" corn reports lead to flat closes what is Mr. Market telling you. Be careful. 1 week ago

    2010 spring corn price was $3.99. Only four years ago. 2 weeks ago

    Two good days to lock in decent prices on corn and beans. Did you take advantage of the opportunity 2 weeks ago

    Very little change on corn intentions in key corn belt state. Almost all reductions in fringe states such as ND down 1 million acre 3 weeks ago

    North Dakota up 1 million Minnesota up 700k and Nebraska up 600k represent almost half of the 5 million increase in bean acres 3 weeks ago

    Just spoke for 45 minutes on new farm bill to a group of 100 Minnesota and Wisconsin Co-op board members. No one fell asleep. 3 weeks ago

    Hard to beat spring time in the Pacific Northwest. 4 weeks ago

    Kansas City can be windy this time of year. Just got done taping with a farm family. Check it out on #agday next Friday 1 month ago

    I think spring has sprung in our area. 1 month ago

    April hogs 116 limit up! Can they hit 120 1 month ago