Rural Money: Navigating Recent Court Ruling on Self-Employment Tax for Limited Partners

Farm CPA Paul Neiffer joined us to break down the recent Fifth Circuit Court decision overturning a prior Tax Court decision on self-employment tax for limited partners, the ruling’s impact on farmers, and potential next steps in Congress.

WASHINGTON, D.C. (RFD NEWS) — The Fifth Circuit Court has overturned a prior Tax Court decision regarding self-employment tax for limited partners, raising questions about how farmers may be affected by the ruling. Farm CPA Paul Neiffer joined us on Friday’s Market Day Report for insights.

In his interview with RFD NEWS, Neiffer provided details on the case and explained its implications. He also discussed how farmers should approach the ruling if they had assumed they were not required to pay self-employment tax and whether congressional action might follow.

Marion is a digital content manager for RFD News and FarmHER + RanchHER. She started working for Rural Media Group in May 2022, bringing a decade of digital experience in broadcast media and some cooking experience to the team.

LATEST STORIES BY THIS AUTHOR:

Industry-wide participation in SHIP enhances biosecurity and fosters global trust in U.S. pork, says swine health expert, Dr. Christine Mainquist-Whigham.
A new study by the National Grains and Feeds Association found that their industry generates $401.7 billion in economic output and supports over 1.16 million jobs nationwide.
National Education Center for Ag Safety Director Dan Neenan joins us to discuss grain bin safety and the steps producers can take to prevent tragedies.
As National Advisor, Carson will counsel both President Trump and Secretary Rollins on nutrition, healthcare access in rural areas, and housing. He will also serve as a key member of the MAHA Commission.
What is it like working cattle with an outbreak of New World Screwworm so close to home? Wayne Cockrell, with the Texas and Southwestern Cattle Raisers Association, joined us on Wednesday to discuss.
Argentina hopes to boost demand, but critics see the move as a blow to American farmers.