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.
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In today’s Firm to Farm blog post, RFD-TV ag law expert Roger McEowen briefly examines several of the issues that farmers and ranchers face.
When it comes to agricultural law and tax, educating yourself about potential issues and seeking legal and tax counsel is crucial for any agriculture business.
