Paul Neiffer, a farm owner and certified public accountant specializing in agricultural taxes, warns of challenging times ahead for U.S. farmers. With farm incomes predicted to drop in 2024 due to high input costs and lower commodity prices, Neiffer sees parallels to the difficult farming conditions of the 2010s. Despite this, he remains optimistic about the long-term potential of farmland. Drawing on his experience from the 1980s Farm Crisis, Neiffer believes farmers who prepare during prosperous years can weather the tough times.
