Paul NeifferThe Farm CPA Blogger

Paul Neiffer is an agribusiness CPA and business adviser and specializes in income taxation and accounting services specific to the farm community. This includes succession planning issues and opportunities related to taxes and compliance. Paul writes a monthly tax column for Top Producer and blogs at AgWeb.com. He was raised on a dryland wheat and pea farm in Washington. He recently purchased a 185-acre farm. Driving his cousin’s combine is his idea of a vacation.

Paul Neiffer is an agribusiness CPA and business adviser and specializes in income taxation and accounting services specific to the farm community. This includes succession planning issues and opportunities related to taxes and compliance. Paul writes a monthly tax column for Top Producer and blogs at AgWeb.com. He was raised on a dryland wheat and pea farm in Washington. He recently purchased a 185-acre farm. Driving his cousin’s combine is his idea of a vacation.

Articles By Paul Neiffer

Apr 26, 2020

Finally - Clarity on Schedule F Farmers for PPP

After almost a full month, we now has clarity on how to calculate the loan amount for Schedule F farmers and other entities. It is clarity, but likely for many farmers not what they wanted to see. If you show a loss on line 34 of Schedule F you do
Apr 23, 2020

No Restriction on Farm Losses for 2018-2020

The Tax Cuts and Jobs Act temporarily suspended the excess farm loss rules for 2018-2025 and replaced it with the excess business loss (EBL) rules. The EBL limited net business losses including farm losses to $250,000 for singles and $500,000 for married couples (indexed to inflation). This law also allowed
Apr 22, 2020

What Does 75% Mean?

The Paycheck Protection Program (PPP) provided for a loan based on 2.5 months of average payroll costs. The law then provided for part or all of this loan to be forgiven and left it up to the Small Business Administration to provide the rules on forgiveness. The law did not
Apr 21, 2020

Will Commodity Wages Count for PPP Loan Forgiveness?

We continue to get several questions regarding whether commodity wages will qualify for loan forgiveness under the Paycheck Protection Program. Compensation includes commodity wages, however, since the 8 week covered period will have a much higher focus on documentation than the 2019 payroll period or trailing twelve months, it may
Apr 21, 2020

Is Gas For Your Auto Really an Utility

The SBA provided additional guidance last week for Schedule C filers. We wrote a blog post on this last week. We continue to get questions regarding gasoline being considered a utility cost. On page 9 of the guidance at about the fifth line down, the guidance is worded as follows
Apr 19, 2020

A Tale of Two Farms

The USDA announced on Friday their details for providing COVID-19 Farm relief. As with most details coming out of DC right now, not all of the questions for farmers were answered. However, one of the key questions was answered and hopefully that answer is not in stone. Unlike last year's
Apr 16, 2020

Technical Glitches

The SBA issued new guidance on Tuesday April 14, 2020 regarding self-employed (SE) "taxpayers". The reason we put taxpayers in quotes is that it appears that most of the guidance is directed toward SE "employees" and not SE businesses. Our last post reviewed most of the guidance but there does
Apr 14, 2020

Some SE Guidance – Just Not All Good

The SBA issued some additional Interim Final Rules today and most of it dealt with self-employed taxpayers. We were hoping that gross receipts would qualify. For an Uber driver it might if they only received a Form 1099 from Uber and have little or no expenses. For the typical SE
Apr 13, 2020

IRS Provides Relief For Some Farmers

The IRS was busy late last week in announcing several responses to the CARES Act and most of them were very helpful for farmers. First, the CARES Act eliminated the requirement to limit business losses to $500,000 (married couples indexed to inflation) for 2018-2020. This means that if a farmer