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:

CoBank Lead Grains Economist Tanner Ehmke joins us to share insight and concerns over current grain storage capacity as export demand lags.
Farm CPA Paul Neiffer shares his perspective on the uncertain outlook of federal farm relief and the Farm Bill, which may not materialize until the government shutdown ends.
Large animal veterinarian Dr. Rosalyn Biggs with Oklahoma State University warns producers may not be prepared for the real threat of New World Screwworm.
We spotlight a student from Illinois who is helping to launch a middle school chapter and teaching younger students about the impact of agriculture in their communities.
FarmHER Annaliese Wegner joined us to dish about her episode of Dirt Diaries, talk about her own podcast, and other exciting moments ahead for Ag’s Most Okayest Farm Girls.