Paul Neiffer, a CPA, farmer, and speaker, educates farmlandowners and investors on tax strategies, particularly 1031 exchanges - a critical tax strategy for farmers and landowners looking to defer capital gains taxes when selling and reinvesting in similar properties. He discusses the complexities of using 1031 exchanges for farm-related assets, particularly when dealing with Section 1245 property like grain bins, tiling, and hog barns. With ongoing political support for 1031 exchanges, Neiffer advises farmers to carefully plan transactions to maximize tax benefits.
