Farm Operations

Another Tax Season Bites the Dust

By: | Trackback URL | No Comments

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 […]


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

By: | Trackback URL | No Comments

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 […]


Farm Bill Webinar

By: | Trackback URL | No Comments

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 […]


Very Limited Availability for AICPA Ag Conference

By: | Trackback URL | No Comments

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.  […]


Leave a Legacy (#44)

By: | Trackback URL | No Comments

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 […]


Taxpayer Victory in Frank Aragona Trust Case

By: | Trackback URL | No Comments

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 […]


Cash Rents Equals Extra 3.8% on Sale

By: | Trackback URL | No Comments

March 18th, 2014

We had a reader ask the following question: “Can you give some advice on the impact of retiring from active farming and cash renting the farm as it relates to the 3.8% tax on capital gains. Given a large increase in the land value while actively farming, do you give up the exemption from the […]


Real Estate Includes Land but Not For Depreciation Purposes

By: | Trackback URL | No Comments

March 17th, 2014

We had a reader send in the following comments and question: “I appreciated your information on the tax reform proposal. In your 4th bullet point on depreciation, you stated that “Most if almost all farm real estate…would be over 40 years and not the current 10 or 20 years.” It has been my understanding that […]


A Bad Day in Court

By: | Trackback URL | No Comments

March 13th, 2014

The Tax Court today released the Kaplan case.  Gary Kaplan was a professional sports bookie.  He started his career in the US and then moved it to the Caribbean before finally settling in Costa Rica.  During this time, he formed a company called BetOnSports PLC.  This company became the most successful overseas sports booking company […]


When to Report Hedging Gains and Losses?

By: | Trackback URL | No Comments

March 11th, 2014

We had a reader send in the following questions: “We have an accrual basis farm partnership, for income statement purposes we have used the mark to market approach to the value of the hedge which was at a gain. For income tax purposes can we report the gain or loss when the hedge is closed?” […]


Subscribe to this blog by:

Previous Posts


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

See All

  • Twitter Feed

    When "bullish" corn reports lead to flat closes what is Mr. Market telling you. Be careful. 2 weeks 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 3 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. 4 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