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 13, 2020

Self-Employed Farmers Need SBA Guidance Now!

We thought that the SBA would provide guidance to self-employed owners for the Paycheck Protection Program (PPP) loans sometime last week since farmers could apply for these loans starting on Friday April 10. However, this was not to be and we need some answers quickly to important questions. Before we
Apr 09, 2020

Big Unknowns on Loan Forgiveness

We recently did a post on how loan forgiveness might be calculated when it comes to employee costs. This post deals with the other costs that qualify to be paid during this period and how that might affect forgiveness. There has been no guidance on any of this other than
Apr 09, 2020

How Much of Your PPP Will be Forgiven?

Now that you have received a Paycheck Protection Program loan, you will need to understand the calculations on how much of the loan might be forgiven. As we write this blog post there is already another Bill in the Senate to increase the funding amount by close to $200 billion
Apr 08, 2020

What Are Payroll Costs

We got the following comment from a reader: "On the 943, we use Line 2 for Gross Wages. This part I understand. As for Lines 3 & 5 (total social security and medicare), do we or do we not add 1/2 of these amounts (the employer portion) to Gross Wages
Apr 07, 2020

Good News on PPP From SBA/Treasury

The SBA in consultation with the Department of Treasury issued timely updated a Frequently Asked Questions document last night. Many of the questions that we reviewed over the last week in this blog were answered in this FAQ and the answers are favorable to applicants. Let's review each of the
Apr 06, 2020

Do Commodity Wages Count?

We have gotten several comments regarding whether commodity wages count as payroll costs for the Paycheck Protection Program loan. In order to determine this we need to go to the law and determine what is considered to be compensation. The law states any compensation that is a "salary, wage, commission
Apr 06, 2020

Any Business Concern Means Any Business Concern!

Perhaps the Small Business Administration and its workers should not have been in charge of implementing the new Paycheck Protection Program (PPP). However, they likely were the only entity that could handle this process on a timely basis, but the issue arises that most of the workers in the SBA
Apr 06, 2020

Will Your Bank Reduce Your PPP Loan by 30%?

We are starting to see some of the documentation that banks require to apply for the Paycheck Protection Program (PPP) loans. As expected some of the documentation may lead you to qualify for a much lower number than is allowed by the law and can be substantial. As an example
Apr 03, 2020

Why is Seasonal Important

One of the provisions of the Paycheck Protection Program deals with Seasonal Employers. If you are considered a seasonal employer you likely will have a reduction in the loan amount that you will qualify for. We did a post a couple days ago on how some of the provisions. But