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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    December 20th, 2014


    It’s Official

    President Obama signed the Tax Extenders Bill yesterday and now farmers can go out and buy as much equipment as they want before year-end to take full advantage of Section 179 for 2014. I have a feeling there may be a fair amount of “phantom” equipment bought between now and the end of the year. […]

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    December 19th, 2014


    How Does County Yield Affect ARC-CO Payment

    FarmDoc Daily issued a report yesterday on the amount of estimated payments for ARC-CO and PLC by covered crop for the 2014 crop year based upon the updated USDA price information from last week.  It gives you a good idea of the types of payments for each crop based upon the low, medium or high USDA […]

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    December 16th, 2014


    Senate Passes Tax Extender Bill 76-16

    It is now final (other than the President signing it which he will). This gives farmers about two weeks to make purchases of equipment to take full advantage of Section 179, bonus depreciation and other business tax extenders. I just finished the last tax school in Ames, Iowa today. Over 300 in attendance with another […]

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    December 16th, 2014


    Wednesday Optimistic – Thursday Pessimistic

    The Hill is reporting that progress was made by the Senate yesterday in getting several nominees confirmed.  These confirmations do take time and the estimated day of final passage of the Tax Extender Bill is either late Wednesday or sometime on Thursday. “Senators will vote to end debate and confirm Sarah Saldaña, Obama’s nominee to […]

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    December 15th, 2014


    Tax Extender Bill Could Pass Today

    The Hill (a site that tracks Congress and the President) is reporting that Senator Reid is trying to get the Senate to finish all of their remaining work today and go home for the holidays.  However, there is always at least one Senator that likes to gum up the works.  The Senate will begin voting […]

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    December 12th, 2014


    Does Budget Bill Fiasco Spell Doom of Tax Extender Bill

    Based on the experience with the House yesterday in passing the 2015 Budget Bill, it would not surprise me if Congress now punts the Tax Extender Bill completely to 2015.  I still firmly believe that there is enough votes in the Senate to get the bill passed, however, based on certain stubborn Senators on both the […]

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    December 11th, 2014


    IRS Announces 2015 Standard Mileage Rates

    The IRS has announced the 2015 standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical and moving purposes.  The 2015 rates are: 57.5 cents per mile for business miles driven, up from 56 cents in 2014.  22 cents of this amount is considered depreciation for basis reduction […]

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    December 11th, 2014


    Tax Extender Bill May Be Punted to Weekend

    Anytime you deal with Congress passing legislation you have to become accustomed to possible delays. Earlier our expectations were that the Tax Extender Bill including Section 179 at $500,000 would be passed yesterday. However, Congress is also dealing with a major spending bill which is more important than the tax bill. Therefore, there is a […]

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    December 9th, 2014


    Watch Your Crop Insurance Form 1099s This Year

    As we have previously noted several times, there will be lots of crop insurance claims paid out this year.  A form 1099 will be issued by the crop insurance company for these claims.  The form 1099 will report the gross amount of crop insurance “paid” to the farmer, however, in many cases, this will not […]

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    December 8th, 2014


    Are We Getting Section 179 Fatigue?

    We should know by Wednesday whether Section 179 will be $500,000 for 2014 (I have guaranteed this at several seminars over the last week or so, but you know how much my guarantee is worth). Assuming it does get increased to that amount for this year, I am starting to wonder if many of our […]

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