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Transfer Tax Pt 2
Washington State Farm Bureau Report
Clifton, Larson and Allen Accounting firm's Paul Neiffer changes to the transfer tax could make generational passing of farm land much more difficult.
Transfer Tax Pt 1
Washington State Farm Bureau Report
Clifton, Larson and Allen Accounting firm's Paul Neiffer changes to the transfer tax could make generational passing of farm land much more difficult.
Wheat Harvest Update
Farm of the Future
Wheat harvest season is here and depending on your location — maybe be completely done, nearly there or just begun.
How to Pay Your Children For Farm Work
Farm of the Future
Recently, there was a Tax Court case which stated that care must be taken in how wages are calculated and paid.
Farm Debt is Growing
Colorado Ag Today
Last month the Kansas City Fed released a report indicating that farm debt is accumulating at a faster pace.
Expanded Cost Basis Reporting on Estates
Farm of the Future
CliftonLarsonAllen Principle and Farm CPA Today blogger Paul Neiffer explains more about the expansion of cost basis reporting for estates
Switching to S Corp May Be an Option
Farm of the Future
With low crop prices likely over the next few years, this is a good time to review whether you should switch to an S corporation.
Section 179 Increased and Made Permanent
Farm of the Future
Last week's Omnibus package included good news for farmers and ranchers awaiting news of Section 179
Rural Main St Index Falls Into Negative Numbers in September
Farm of the Future
Mid-western Creighton University publishes a monthly rural main street index designated to give a reading on the overall farm/rural economy.
PLC and ARC Payments May Differ If Farm in Multiple Counties
Farm of the Future
The way ARC or PLC payments are determined may have a positive or negative affect on your payment — depending on if you farm in multiple counties AND where your records are maintained.
What if Crop Insurance Subsidies Disappears?
Farm of the Future
There is continued discussion in Congress about reducing or eliminating the subsidies for crop insurance premiums for those producers who adjusted gross income exceeds a certain level — $750,000 is a current number being mentioned.
Reduction in ARC/PLC Payments
Farm of the Future
In case you hadn't heard, ARC and PLC payments will be subject to sequestering and which will cut scheduled payments by 7.3 percent.
IRS Delays New Inherited Property Reporting Requirements
Farm of the Future
There was a new provision requiring reporting of income tax basis of property inherited if the estate was required to file an estate tax return.
Pro Farmer Crop Tour Results
Farm of the Future
CliftonAllenLarson Principle and Farm CPA Today blogger Paul Neiffer just returned from Pro Farmer Crop Tour last week. He was on the Western leg of tour which was in parts of South Dakota, Nebraska, Iowa and Minnesota.
Tax Extenders Bill to be Marked up in U.S. Senate Finance Committee
Farm of the Future
CliftonAllenLarson Principle and Farm CPA Today blogger Paul Neiffer gives an update on where tax extenders are in the legislative process.
No PLC Payments for Wheat, Barley or Oats
Farm of the Future
USDA recently released the final 2014/15 Market Year Averages numbers. CliftonAllenLarson Principle and Farm CPA Today blogger Paul Neiffer shares results and what it will mean for grain farmers.
Rural Mainstreet Index Moves Lower Last Month
Farm of the Future
The Creighton University Rural Mainstreet Index last month slumped according to the monthly survey of bank CEO in rural areas of 10-state region dependent on ag and energy.
IRS Says No Need for Farmers to Fill out Form 3115
Farm of the Future
There had been some confusion with how the IRS dealt with repairs, materials and supplies and related capitalization of asset purchases.
IRS Announces Additional Health Insurance Guidance
Farm of the Future
The IRS has come out with additional guidance on health insurance arrangements — especially for farmers whose business is in an S Corporation.
Crop Insurance Premium Subsidies Reduction in President's Crosshairs
Farm of the Future
When the President announced his budget last week, the premium subsidies of crop insurance is one of the areas he is proposing a reduction.