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2014 Social Security Tips for Farmers
Early planning for retirement can help producers properly evaluate the range of Social Security taxes and payback periods, The Farm CPA Paul Neiffer says. “Farmers, I think they have a genetic chip implanted at birth that they don’t want to pay income taxes. And that’s good,” Neiffer said during the 2014 Top Producer Seminar. “But when they start reaching retirement age, and they’re coming into me and they say, ‘Hey Paul, we need to pay in more money so that we’ll boost up our Social Security benefits when we retire,’ well, we have to be careful.” Read more…
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