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Paul Neiffer
Initial Thoughts on new IRS Guidance on PPP and ERC

The IRS finally released guidance on the interplay of PPP and ERC. You may be limited on wages for ERC if you elected to not report other qualifying costs on your PPP forgiveness application.

Paul Neiffer
Your Federal Stimulus Check May be Taxable on Your State Return Even When It's Not

The $1,200 economic stimulus payment you received in 2020 is not taxable for federal or state income tax purposes. However, it may still "raise" your state income tax.

Paul Neiffer
Should Texas Farmers File by March 1?

Texas received a federal disaster declaration on February 11. Farmers generally file and pay by March 1 to escape paying estimates. A penalty may be assessed if you pay after March 1 even with a new June 15 due date.

Paul Neiffer
Will Employee Retention Credit Get Extended to December 31, 2021?

The Employee Retention Credit is likely going to be extended to December 31, 2021. This will allow many farmers to qualify for even a greater tax credit.

Paul Neiffer
What's Your Maximum Tax Bracket at Death?

We have posted on Biden's tax plan for estates. In today's post we try to estimate the top tax rate and it is high.

Paul Neiffer
Signal To Noise: Biden Tax Plan & More PPP Gross Receipts Questions

Last Friday I appeared on the Farm Journal Signal to Noise discussing the Biden Tax Plan and the SBA just issued new guidance on how to calculate gross receipts.

We are starting to see more chatter about assessing a capital gains tax at death (or during life).
Are You Ready for Capital Gains Tax at Death?

We are starting to see more chatter about assessing a capital gains tax at death (or during life).

Paul Neiffer
FAQs on Employee Retention Credit

The Employee Retention Credit is worth up to $14,000 per employee retained in the first two quarters of 2021. But it is complicated and CLA answers many of your questions.

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