PARKER, Colo. (RFD-TV) — A major change is coming to how farm program payments are distributed under Title I of the upcoming Farm Bill, with new rules impacting what types of business entities can receive multiple payments.
Farm CPA expert Paul Neiffer joined us on Thursday’s Market Day Report to explain the implications for producers and ag businesses.
In his interview with RFD-TV News, Neiffer discussed the recent adjustments that affect LLCs and S corporations, noting that these entities may now qualify for more than one payment under certain ownership and operational structures—something previously limited by program rules. However, he cautioned that the details matter, especially regarding how management and active participation are defined for each member.
He also explained how C corporations will be treated differently under the new framework and what that means for larger or more diversified family operations. Finally, Neiffer addressed whether general partnerships should consider converting to an LLC structure in light of these changes, emphasizing the importance of consulting with a qualified tax professional before making any moves.
RFD-TV News contributor Roger McOwen covers important topics in ag law and taxation, including FBAR, Read Before Signing, Reporting 4-H Income, and Attorney-Client Privilege.
RFD-TV Agricultural Law & Taxation expert Roger McEowen discusses the Supreme Court’s recent repeal of the Chevron agreement and other current topics in ag law.
With today’s post, RFD-TV Ag Legal & Tax Expert Roger McEowen focuses on some more common issues farmers, ranchers, and rural landowners frequently face.
Roger McOwen started a new farm law and taxation blog that contains a “Rural Practice Digest.” You can access it through a subscription to his new Substack blog. Find the link here.
The topics in ag law and tax are diverse. There’s never a dull moment. For now, here’s a selection of various ag law topics from RFD-TV Agricultural Law & Tax expert Roger McEowen.
The new approach to animal identification in the cattle industry—that’s the topic of this Firm to Farm blog post by RFD-TV agri-legal expert Roger McEowen with the Washburn School of Law.
From the U.S. Supreme Court down to local jurisdictions, the current developments just keep on rolling in agricultural law and taxation. Here are some recent developments.
Since the Tennessee Main Street program’s inception in 2010, 78 rural commercial districts have been improved. These 12 new additions bring that total number up to 90.
April 24, 2024 12:15 PM
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One drawback of co-equal ownership in estate planning is the right of partition of a co-owner. That’s a particularly acute problem when parents have both on-farm and off-farm heirs.
April 18, 2024 10:38 AM
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