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Instructor
Paul Neiffer
Instructor
Paul Neiffer, CPA provides income and estate tax planning services and FSA planning related to farmers and their families. Paul is past president of the Farm Financial Standards Council and current chair of the AICPA Ag Conference. He writes the "FarmCPA" column for Top Producer magazine along with their Top Producer Podcast and is also the primary author of the "FarmCPAReport.com" blog. Paul is a nationally recognized speaker on many subjects related to farmers and processors including tax planning, estate tax and succession planning, farm management accounting, farm bill, farm economics and many other related topics. He was instrumental in the Congressional discussions that resulted in the "grain glitch fix" in early 2018, after the enactment of the Tax Cuts and Jobs Act.
The agriculture industry's unique tax rules are closely linked to specialized income and tax deduction opportunities. In this virtual seminar, learn more on these key areas - including the One Big Beautiful Bill (OBBB) from farm tax expert Paul Neiffer, CPA, author of the FarmCPAReport blog. Discover how to apply tax planning concepts unique to agribusiness and gain guidance on how to maximize tax benefits for your farm clients.
NOTE: The topics listed below are subject to change if significant income tax laws are passed before the seminar. Should that occur, the seminar will primarily focus on how these new laws impact farmers.
· Apply core tax planning strategies specific to farm and ranch operation
· Recall recent tax developments, including court cases, rulings and other guidance affecting agriculture
· Understand the implications of rearranging land holders by related parties
· Analyze current developments regarding excess fertility deductions
· Review final SECURE Act guidance and new provisions under SECURE 2.0
· Evaluate Farm Service Agency rules and strategies to help clients optimize payments
· Explore Section 45Z Clean Fuel Production Credit and its application to farms
· Refresh knowledge on farm-specific issues such as income deferral, deductions and other key topics
· Federal income tax law changes and their effects on agriculture, including One Big Beautiful Bill (OBBB)
· Strategies for handling land spread across multiple entities and ownership
· Inflation Reduction Act planning considerations, including how REAP grants and solar credits interact
· SECURE 2.0 Act implications
· Impacts of recent court cases and IRS rulings on farmers and ranchers
· Estate planning for farmers including the benefit of SWAP powers in Grantor Trusts
· Section 1245 Real Property Tax Deferred Exchanges
· Real-world examples relevant to small and mid-sized farm operations• Review of major income tax law changes
• How to help farm families deal with land in multiple entities and ownership
• Inflation Reduction Act, SECURE 2.0, CTA and other Acts -- impacts, planning opportunities, what's still unknown and what requires more IRS guidance
• Other relevant tax developments, court cases and rulings affecting farmers and ranchers
• Examples pertinent to small and mid-sized farm operations
• A refresher on various farm tax planning topic such as:
• Interplay of Section 199A, SE and Net Investment Income taxes
• Section 1245 Real Property Tax-Deferred Exchanges
• Installment sales, easement proceeds and other gain recognition issues
• Interplay of NIIT, SE and Passive Income and Losses
• Will farmers be switching to a C corporation soon?
None
None
CPAs and tax professionals with farm or ranch clients.
The bonus session will cover the current landscape for Section 1031 exchanges focusing on agriculture-related issues.
www.Ipe1031.com
Paul G. Neiffer, CPA, Principal, AgriBusiness Group, CliftonLarsonAllen LLP
Paul Neiffer is an Agribusiness Certified Public Accountant and business advisor specializing in income taxation, accounting services, and FSA planning related to farmers and processors.
Experience in serving clients: Works with farmers and processors providing income tax advice and compliance services. Actively consults with farm families on succession planning issues and opportunities. Helps farmers understand the proper use of accounting systems to more profitably run their business. Helps structure farm operations to maximize FSA opportunities.
Technical expertise: Paul Neiffer obtained his CPA certificate in 1984.
Educational/professional involvement: Paul Neiffer graduated from the University of Washington with a Business Administration Degree (concentration accounting) in March, 1983 and has also completed various upper level income taxation classes sponsored by Golden Gate University.
Paul is president of the Farm Financial Standards Council (www.ffsc.org) which is the premier organization promoting the use of accrual basis financial statements for agricultural producers.
Paul authors a monthly column for Top Producer magazine called “The FarmCPA”.
Paul has written several articles for various farm magazines and media outlets and instructs many
CPAs and CPA firms across the US. Paul is the primary author of the blog FarmCPAToday.com which reports several times a week on items specific to the Ag Industry.
Paul is a nationally recognized speaker on many subjects related to farmers including (1) tax planning, (2) estate tax and succession planning, (3) farm management accounting, (4) farm bill and many other related topics.
Paul grew up on a farm in Walla Walla County, Washington and still enjoys heading home each to summer to operate the combine for his cousins (this is his idea of a vacation).