Latest News From Taxes

Before you flip the calendar to 2023, cross a few important tax to-dos off your list, encourages Paul Neiffer, CPA and principal with CLA.

If you’re planning to buy farm equipment before the end of the year, here’s a refresher on two tax tools you can use.

The end of the year is closing in. Have you considered new prepaid expense moves? According to Paul Neiffer, farm CPA at CLA Connect, you should.

USDA Secretary Tom Vilsack and Rep. Cindy Axne joined AgriTalk with host Chip Flory and Pro Farmer Policy Analyst Jim Wiesemeyer recently to comb through President Biden’s reframe of the Build Back Better (BBB) plan.

The newest tax proposal in Washington would impose a tax on billionaires. A farm tax expert warns the proposed changes could turn into a trojan horse for farmers and result in higher taxes within a decade.

I am frequently asked: “Should I maximize my earned income for a few years before retirement to increase my Social Security retirement benefits?” My answer is the typical, “It depends.”

President Joe Biden's tax plan has both good and bad news for farmers, says Paul Neiffer, a CPA and principal with CLA and author of the “Farm CPA” blog.

Trump Farm-Bill Outline Emphasizes Work as a Food-Stamp Goal

Cutting corporate, business and individual taxes, the first major overhaul of U.S. tax laws since 1986 is being welcomed by the farm and retail interests. 

Starting in 2015 farmers have an Affordable Care Act reporting requirement if they have 50 or more employees or have less than 50 employees and a self-funded healthcare plan.

If you have children working on the farm, be sure to pay them a wage, says Paul Neiffer, the Farm CPA. The tax benefits can be worth it.

Read articles and view speakers’ presentations from the 2014 Top Producer Seminar, which was held in Chicago, Ill., last week.

Depending on your operation’s setup, size and intent, allocating yourself an official salary can bring financial advantages and create opportunities.

New tax credit helps cover health care premiums

Crop insurance quality concerns; how does your pay measure up?