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. 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).


Articles by Paul:

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    January 25th, 2015


    Possible Maximum ARC-CO and PLC 2014 Payments

    The University of Illinois in their FarmDoc Daily report released estimated ARC and PLC payments by state last week.  For corn, the payments ranged from a low of zero for ARC-CO in multiple states (those with higher than average yields in 2014).  Some of the key corn-growing states with estimated ARC-CO payments of zero were Kansas and Missouri.  Each […]

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    January 23rd, 2015


    IRS Scammers Net $14 Million from 3,000 Victims

    The pervasive IRS impersonation phone scam has claimed nearly 3,000 victims who have collectively paid over $14 million, according to a new warning from the Treasury Inspector General for Tax Administration (TIGTA).  According to the TIGTA, they have received reports of around 290,000 cases due to this scam from taxpayers since October 2013. In the […]

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    January 20th, 2015


    2 Senators Work to Eliminate Capital Gains Tax on Chapter 12 Bankruptcies

    Senator Grassley (D-Iowa) and Senator Franken (D-Minn) proposed a bill today in the Senate to eliminate capital gains tax that a farmer may owe when selling property after entering a Chapter 12 bankruptcy.  Chapter 12 bankruptcy is designed to allow farmers to reorganize their farm operations and keep the farm in the family and operating.  […]

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    January 19th, 2015


    Save the Date

    Due to the success of the AICPA Ag Conference in Austin, Texas last May, they have decided to do another Ag Conference this year.  Normally, this conference would be on an every-other year cycle, but they have elected to try having a back-to-back conference. This year, the conference will be held at the Hyatt Regency in […]

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    January 18th, 2015


    Do Farmers Take Advantage of “Trust Fund” Loopholes

    President Obama as part of his expected State of the Union address will announce various tax related measures to help the lower and middle class and close certain “trust fund” loopholes.  This loophole is primarily the ability to step-up assets to fair market value at death.  Current law allows a step-up in value of almost […]

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    January 16th, 2015


    Early CRP Opt-Out Ends January 30, 2015

    The USDA has announced that the deadline for CRP participants to elect out of any current CRP contracts will end January 30, 2015.  Under the new Farm Bill, certain CRP participants who met certain requirements were allowed to opt-out of the CRP contract early without penalty.  Here is a fact sheet on those conditions. Practices […]

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    January 15th, 2015


    Is Corn Drifting Away From Any 2014 PLC Payment?

    As most of our readers are aware, we have posted numerous times on PLC and ARC.  For several months the USDA has posted their monthly price for the corn 2014/15 MYA as being under $3.70.  If my memory is correct, they got as low as $3.30 and possibly even $3.20 and for at least the […]

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    January 15th, 2015


    More Than Half of Dairy Producer’s Enroll in Margin Program

    The USDA just announced that more than 23,000 dairy producers enrolled in the new Dairy Margin Protection Program for 2015.  As an example, in the state of Wisconsin more than 55% of the producers signed up and 55% of those that signed up did so at some level of buy-up coverage.  The $4 level was […]

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    January 14th, 2015


    USDA Announces More Than $18 Million to Support Training and Development for Beginning Farmers and Ranchers

    The USDA announced on January 12, 2015 the availability of more than $18 million in funding to help educate, mentor and enhance the sustainability of the next generation of farmers. This support is available through the Beginning Farmer and Rancher Development Program (BFRDP), administered by USDA’s National Institute for Food and Agriculture (NIFA). The BFRDP […]

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    January 13th, 2015


    IRS Opens FATCA Data Exchange Service

    The Internal Revenue Service has introduced an International Data Exchange Service that financial institutions and tax authorities in other countries will use to report tax information under the Foreign Account Tax Compliance Act, or FATCA. Financial institutions and host country tax authorities will use IDES to securely send their information reports on financial accounts held […]

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