tax
OSU Extension Announces Two-Day Tax Schools for Tax Practitioners &
Agricultural & Natural Resources Income Tax Issues Webinar
Barry Ward & Jeff Lewis, Income Tax Schools at The Ohio State University
For over 60 years, Ohio State University has been providing continuing education for tax preparers. Ohio State University offers income tax education designed for tax preparers with some experience preparing and filing federal tax returns for individuals and small businesses. Our schools also provide tax education for beginning professionals and for farmers and farmland owners.
This year, our schools will focus heavily on tax provisions included in the One Big Beautiful Bill (OBBB) legislation passed and signed in July. Our schools will also have presenters from the Ohio Department of Taxation focusing on income tax and property tax provisions impacted by the Ohio Biennial Budget.
Instruction focuses on tax law changes and on the problems faced in preparing individual and business (including farms) tax returns. Highly qualified instructors will explain and interpret tax regulations and recent changes in tax laws. These schools and webinars offer continuing education credits for attorneys, CPAs, EAs, CFPs, and other tax return preparers. More information can be found online: https://farmoffice.osu.edu/tax
Our two-day schools (and 4-part webinar) are designed for individuals who have some experience preparing and filing federal and state tax returns. The two-day courses are considered to be intermediate level. Highly qualified instructors will explain and interpret tax regulations and recent changes. Our two-day schools also have instructors from the Internal Revenue Service (IRS) and the Ohio Department of Taxation (ODT).
Highlights include a detailed look at new and updated tax provisions in the OBBB and the Ohio Biennial Budget. We have three chapters in this year’s National Income Tax Workbook (NITW) that haven’t had recently that may be of interest – Religious Organization Tax Issues, Installment Sales and Tax Benefits of Home Ownership.
What sets our schools apart? Our dedicated instructors who work in the tax industry! We don’t just get you through the class, we get you through the tax filing season.
We also offer a two-hour Ethics Webinar and a six-hour Agricultural and Natural Resources Income Tax Webinar for additional continuing education credits. All of our courses are taught by some of the industry's top experts!
Registration for our 2-day schools and four-part webinar includes a hard copy of the 600+ page National Income Tax Workbook prepared by the Land Grant University Tax Education Foundation (“LGUTEF”), access to past workbooks, the opportunity to order the 2026 Checkpoint Federal Tax Handbook at a substantial discount, and 50% off our Ethics/PSR Webinar.
Registration for 2025 is open and can be found by visiting: go.osu.edu/tax2025
If you cannot register online, email taxschools@osu.edu to set up an alternative.
Dates and Locations for 2025 Income Tax Schools
Oct. 29-30 Ole Zim’s Wagon Shed, Gibsonburg (Fremont)
Nov. 3-4 Presidential Banquet Center, Kettering (Dayton)
Nov. 6-7 Old Barn Restaurant & Grill, Lima
Nov. 12-13 Ashland University, John C. Meyers Convocation Center, Ashland
Nov. 17-18 Muskingum County Conference and Welcome Center, Zanesville
Nov. 20-21 Hartville Kitchen, Hartville
Dec. 2-3 Nationwide & Ohio Farm Bureau 4-H Center, Columbus
Dec. 8, 9, 11,12 Four-Part Virtual Webinar Series, Zoom
Special Offerings:
Nov. 24-25 - Intro to Tax Course (Columbus)
Dec. 5 - Ethics Webinar, Zoom
Dec. 15 - Ag Tax Issues Webinar, Zoom
Two-Day Tax Schools Topics Include:
- New Legislation – Focused on tax provisions in OBBB
- Ohio Tax Update
- Individual Tax Issues
- Retirement Tax Issues
- Business Tax Issues
- Religious Organization Tax Issues
- Installment Sales
- Tax Benefits of Home Ownership.
- Business Entity Tax Issues
- IRS Issues
- Trusts and Estates
- Agricultural and Natural Resource Tax Issues
- Rulings and Cases
A sample chapter from a past workbook can be found at:
https://taxworkbook.com/about-the-tax-workbook/
In addition to the tax schools, the program offers a separate, two-hour ethics webinar that will broadcast Monday, Dec. 5th. The webinar is $30 for school attendees and $60 for non-attendees and is approved by the IRS and the Ohio Accountancy Board for continuing education credit.
A webinar on Ag Tax Issues will be held Thursday, Dec. 15th from 8:45 a.m. to 3:30 p.m. If you are a tax practitioner that represents farmers or rural landowners or are a farmer or farmland owner that prepares your own taxes, this webinar is for you. It will focus on key topics and new legislation related specifically to these income tax returns.
Registration, which includes the Ag Tax Issues workbook, is $180 if registered at least two weeks prior to the webinar. After November 29, registration is $230.
Intro to Tax Preparation Course
Our Introduction to Tax Preparation for the Beginning Tax Professional Course is offered in Columbus on Nov. 24-25, at the Nationwide & Ohio Farm Bureau 4-H Center. This introductory course seeks to not only introduce beginning tax professionals to tax verbiage, concepts, and law, but also inject real world experience to help beginning tax professionals avoid mistakes a new preparer generally makes. We begin instruction by covering the basics and by the end of Day 2, attendees will have completed a sample return. For more information on this course see this page: https://farmoffice.osu.edu/tax/introduction-tax-preparation-course
For more information, you can contact Barry Ward or Jeff Lewis at taxschools@osu.edu
They can also be reached by phone. Barry Ward - 614-688-3959, Jeff Lewis - 614-247-1720
Tags: tax, Tax Education, Ag Tax, One Big Beautiful Bill, OBBB, BBB, tax law
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Are you a farmer or farmland owner wanting to learn more about recent tax law changes and proposals? If so, join OSU Extension Educators Barry Ward, Jeff Lewis, Robert Moore and David Marrison on Friday, December 6 at 10 a.m. for a special edition of our Farm Office Live webinar presented by OSU's Income Tax School. The team will discuss tax issues that may affect farmers and farmland owners for the 2024 tax season and beyond.
Topics include:
- Farm Economy and Tax Planning
- Tax Planning in Low Income/Drought Years
- Beneficial Ownership Information (BOI) Reporting
- Pending Sunset of Larger Estate Tax Exclusion Amount (Unified Credit)
- Residual Fertility/Fertilizer Deduction
- Clean Fuel Production Credit (I.R.C. § 45Z)
- Current Ag Use Valuation (CAUV) Changes in 2024
- IRC § 45Q - Credit for Carbon Oxide Sequestration
- Farm Loan Immediate Relief Under Inflation Reduction Act: Income Tax Options Triggered by Corrected 1099s
- Taxability of USDA Discrimination Financial Assistance Awards
- Pending Expiration (Sunsetting) of other Tax Cuts and Jobs Act (TCJA) Provisions
This two-hour program will be presented in a live webinar format via Zoom. Individuals who operate farms, own property, or are involved with renting farmland are encouraged to participate. Registration is necessary and if you're a regular Farm Office Live attendee, you're already registered for the webinar. For others, register at https://go.osu.edu/farmofficelive.
Tags: tax, Ag Tax, Farm Tax, Income Tax, cauv, IRC
Comments: 0
Income Tax Schools at The Ohio State University is excited to announce our dates and locations for our two-day, in-person tax schools, our 4-part webinar, introduction to tax preparation course, ethics webinar, and ag tax issues webinar.
Our two-day, in-person tax schools and 4-part webinar will cover the following topics:
- Trusts and Estates
- Related Party Issues
- Limited Liability Company Issues
- Business Entity Tax Issues
- IRS Issues
- Agricultural and Natural Resource Tax Issues
- Business Tax Issues
- Rental Activities
- Individual Tax Issues
- New and Expiring Legislation
- International Tax Issues
- Rulings and Cases
Our Agricultural Tax focused webinar will focus on:
- Business Entity Tax Issues: Split Interest Purchases, Partnership Issues
- Disaster Tax Issues: Casualty Gains, Losses, Deferral, Demolition, Land Clearing, Etc.
- Expensing and Depreciation, with a Deep Dive on Section 179
- Retirement Issues: Self-employment Tax/Social Security Issues,Review of Self-employment Tax Connection to Social Security, and Retirement Plan Options for Farmers.
- Lease v. Purchase, Capital Leases on the Farm
- Tax Planning for Lean Years
- Conservation Issues
- Selling and Trading Property
Make sure to mark your calendars! A list of dates and locations can be found below:
Registration is not yet open! We hope to launch registration for the fall tax schools in early July. You can keep up to date with all the latest tax school information by visiting: go.osu.edu/taxschools.
Registration for our summer course "An Overview of Small Businessses" is OPEN. You can find more information and register for the summer tax school by following: go.osu.edu/summertaxschool
If you have any questions, please do not hesitate to contact Barry Ward (ward.8@osu.edu) or Jeff Lewis (lewis.1459@osu.edu). We look forward to seeing you!
Tags: tax, Tax Schools, Ag Tax, Farm Tax, Introduction to Tax Preparation
Comments: 0
Summer Tax School 2024
Income Tax Schools at The Ohio State University Announces A Summer Tax School "Overview of Small Businesses”
Barry Ward & Jeff Lewis, OSU Income Tax Schools
An Overview of Small Businesses is the focus of the upcoming Summer Tax School Webinar featured by Income Tax Schools at The Ohio State University. Long-time instructor, John Lawrence, will be the primary instructor for this webinar.
This webinar is scheduled for July 31st and registration is now open. The registration page can be accessed at: go.osu.edu/summertaxschool
This Summer Tax School is designed to help tax professionals learn about tax issues related to:
- Selection and formation of a business entity
- Operation of the business entity
- Business entity transition and estate planning issues
- Relevant updates on federal tax law issues
By the end of this course, participants will have a thorough understanding of how to navigate the complex tax landscape, make informed decisions that optimize tax outcomes, and ensure the long-term success and sustainability of their businesses.
Webinar Agenda for July 31st:
9:00 Webinar room opens
9:20 Welcome and introductions
9:30 Session 1: Selection and Formation of the Business Entity: Tax Laws, Regulations, and Implications.
10:50 Break
11:00 Session 2: Business Entity Operation: Tax Planning for the Present.
Noon Lunch break
12:45 Session 3: Business Entity Transition and Estate Planning: Tax Planning for the Future.
1:45 Break
1:55 Session 4: Update on State and Federal Tax Law Rules and Regulations for Small Businesses.
2:50 Webinar concludes
Continuing Educations Credit Hours: 5
Continuing Legal Education Hours: 4
Registration cost is $200 and includes 5 hours of Continuing Education (CPE) and 4 hours of Continuing Legal Education (CLE). Registration information and the online registration portal can be found online at: go.osu.edu/summertaxschool
Participants may contact Barry Ward at 614-688-3959, ward.8@osu.edu or Jeff Lewis at 614-292-2433, lewis.1459@osu.edu for more information.
Tags: Small Business, tax, tax law, Tax Planning, Business, Business Tax
Comments: 0
Agricultural & Natural Resources Income Tax Issues Webinar
Barry Ward, Director, Income Tax Schools at The Ohio State University
Jeff Lewis, Income Tax Schools at The Ohio State University
Tax practitioners, farmers, and farmland owners are encouraged to connect to the Agricultural and Natural Resources Income Tax Issues Webinar (via Zoom) on December 13 from 8:45 a.m. to 3:20 p.m. The event is sponsored by Income Tax Schools at The Ohio State University.
The webinar focuses on issues specific to farm tax returns related to agriculture and natural resources and will highlight timely topics and new regulations.
The program is an intermediate-level course for tax preparers whose clients include farmers and rural landowners. Farmers who prepare and file their own taxes will also benefit from the webinar.
Tentative topics to be covered during the Ag Tax Issues webinar include:
- Timely Tax Issues Facing Agricultural Producers
- Employee vs Independent Contractor
- Cost-Sharing Exclusion
- Farm Trade or Business
- Farming S Corporations
- Timber Taxation
- Legislative and Regulatory Update
- Form 1099s Requirements for Farmers and Ranchers
- Tax Schemes Targeting the Farm
- Tax Issues Arriving at the Death of a Farmer
- Ohio Tax Update
Other chapters included in the workbook not included in the webinar includes: Material Participation Rules for Farmers, Ranchers and Landowners, Livestock Tax Issues, Depreciating and Expensing Farm Assets, Sale and Exchange of Farm Property, Sample Tax Return.
The cost for the one-day school is $180 if registered by November 29th. After November 29th, the registration increases to $230. Additionally, the course has been approved for the following continuing education credits:
• Accountancy Board of Ohio, CPAs (6 hours)
• Office of Professional Responsibility, IRS (6 hours)
• Supreme Court of Ohio, Attorneys (5 hours)
Registration includes the Agricultural Tax Issues Workbook. Early registration (at least two weeks prior to the webinar) guarantees that you’ll receive a workbook prior to the webinar.
The live webinar will also feature options for interaction and the ability to ask questions about the presented material.
More information on the workshop, including how to register, can be found at: https://farmoffice.osu.edu/tax/2023-ag-tax-issues-webinar
Contact Barry Ward at ward.8@osu.edu or Jeff Lewis at lewis.1459@osu.edu
Tags: tax, Ag Tax, Farm Tax, labor law, tax law, Farm Business
Comments: 0
Income Tax Schools 2023
OSU Extension Announces Two-Day Tax Schools for Tax Practitioners &
Agricultural & Natural Resources Income Tax Issues Webinar
Barry Ward & Jeff Lewis, OSU Income Tax Schools
Tax provisions related to new legislation as well as issues related to trusts and estates, retirement, sales of business property, and income for both individuals and businesses are among the topics to be discussed during the upcoming Tax School workshop series offered throughout Ohio in October, November, and December.
The annual series is designed to help tax preparers learn about federal tax law changes and updates for this year as well as learn more about issues they may encounter when filing individual and small business 2023 tax returns.
The tax schools are intermediate-level courses that focus on interpreting tax regulations and changes in tax law to help tax preparers, accountants, financial planners and attorneys advise their clients. The schools offer continuing education credit for certified public accountants, enrolled agents, attorneys, annual filing season preparers and certified financial planners.
Our instructors are what make the difference in our program. Most have been teaching OSU tax schools for over 20 years and make themselves available long after the class to make sure attendees get through the tax filing season.
Attendees also receive a class workbook that alone is an extremely valuable reference as it offers over 600 pages of material including helpful tables and examples that will be valuable to practitioners. Summaries of the chapters in this year’s workbook can be viewed by visiting:
2023 National Income Tax Workbook Topics
A sample chapter from a past workbook can be found at:
https://taxworkbook.com/about-the-tax-workbook/
This year, OSU Income Tax Schools will offer both in-person schools and an online virtual school presented over the course of four afternoons.
In-person schools:
October 26-27, Ole Zim’s Wagon Shed, Gibsonburg/Fremont
October 30-31, Presidential Banquet Center, Kettering/Dayton
November 2-3, Old Barn Restaurant & Grill, Lima
November 7-8, Muskingum County Conference and Welcome Center, Zanesville
November 16-17, Hartville Kitchen, Hartville
November 20-21, Ashland University, John C. Meyers Convocation Center, Ashland
November 28-29, Nationwide & Ohio Farm Bureau 4-H Center, Columbus
Virtual On-Line School presented via Zoom:
December 1, 4, 6, & 8, 12:30 – 4:45 p.m.
Register two weeks prior to the school date and receive the two-day tax school early-bird registration fee of $425. This includes all materials, lunches, and refreshments. The deadline to enroll is 10 business days prior to the date of each school. After the school deadline, the fee increases to $475.
Additionally, the 2023 Checkpoint Federal Tax Handbook is available to purchase by participants for a discounted fee of $70 each. Registration information and the online registration portal can be found online at: https://go.osu.edu/tax2023
In addition to the tax schools, the program offers a separate, two-hour ethics webinar that will broadcast Monday, December 11th at 1 p.m. The webinar is $25 for school attendees and $50 for non-attendees and is approved by the IRS and the Ohio Accountancy Board for continuing education credit.
A webinar on Ag Tax Issues will be held Wednesday, December 13th from 8:45 a.m. to 3:20 p.m. If you are a tax practitioner that represents farmers or rural landowners or are a farmer or farmland owner that prepares your own taxes, this five-hour webinar is for you. It will focus on key topics and new legislation related specifically to those income tax returns.
Registration, which includes the Ag Tax Issues workbook, is $180 if registered at least two weeks prior to the webinar. After November 29, registration is $230. Register by visiting: https://go.osu.edu/tax2023.
NEW! Introduction to Tax Preparation Course.
New this year, we are offering an introduction to tax preparation course. Our instructors are highly qualified tax professionals presenting a real-world approach to tax preparation. This course is designed for professionals with 0-5 years of experience and seeks to help build a foundation for which all tax professionals can continue to build off of. To read more about our introductory course and the topics covered visit, https://farmoffice.osu.edu/tax/new-introduction-tax-preparation-course.
The introductory course will be held on November 13th and 14th at the Der Dutchman in Bellville, Ohio. The course has been approved for continuing education credits by the IRS, the Ohio Accountancy Board, and the Ohio Supreme Court. Registration is $425 prior to October 30th. Registration fees increase to $475 beginning November 1st. Registration includes a 300+ page workbook created by our instructors to help you throughout the beginning of your career!
Contact Barry Ward at 614-688-3959, ward.8@osu.edu or Jeff Lewis at 614-247-1720, lewis.1459@osu.edu for more information.
Two separate, but very similar, pieces of legislation are working their way through the Ohio Legislature and could end up affecting your farmland’s current agricultural use value (“CAUV”). House Bill 187 (“HB 187”) and Senate Bill 153 (“SB 153”) both seek to adjust how property values are assessed in Ohio and some of those proposed changes specifically affect CAUV.
Both proposed bills aim to make temporary adjustments to CAUV for farmland. These changes will impact farmland that undergo reappraisal or triennial updates in 2023, 2024, or 2025. The adjustment does not alter the CAUV formula itself but rather calculates a farm's CAUV at its next reappraisal or update as the average between the CAUV for that year and the CAUV it would have if it were in a county that had reappraisals or updates in the two previous years.
The Ohio Legislature has provided the following example: “[C]onsider a farm located in a county that undergoes a reappraisal in 2023. If the formula were applied for that year, the farm’s CAUV would be $200 per acre. However, if the farm had been reappraised in 2022, its value would have been $190 per acre, and if it had been reappraised in 2021, its value would have been $180 per acre. Under the bill, the farm’s reappraisal value will be $190 per acre (the average of $180, $190, and $200).”
Again, these proposals for CAUV adjustments are only temporary, and the current valuation rules will be reinstated starting in 2026. For example, if the farm mentioned above undergoes a triennial update in 2026, its value will be determined without averaging, following the currently existing rules. Furthermore, if the 2023 CAUV tables, which prescribe the per-acre value of each soil type, have already been published before the proposed legislation takes effect, the Ohio Department of Taxation must update these tables within 15 days after the bill becomes effective to reflect the changes introduced by the Legislature.
As of the morning of October 5, 2023, HB 187 has gone through committee and is ready to be voted on by the House. The Ohio Senate had its third hearing on SB 153 on October 3, 2023, but has yet to report the bill to the floor for a vote. Some County Auditors have come out in “indirect opposition” to both bills, arguing that the proposed legislation would create a logistical nightmare for tax billing purposes. Lastly, there are some differences between the two pieces of legislation - unrelated to CAUV - that would have to be worked out between the House and Senate before we have a final bill that could take effect. We will continue to monitor the situation and keep you up to date on any changes.
By Wm. Bruce Clevenger, Frank Becker, Shelby Tedrow, Grant Davis, and Ken Ford
Ag lenders are keeping farm businesses moving forward. Agriculture is a capital intense industry. Land, buildings, livestock, and equipment are the largest assets on the balance sheet. Additionally, the cash flow needs of seed, chemicals, fertilizers, feed, and supplies are cumulative to the number of dollars needed to operate the business.
Ohio State University Extension has scheduled four seminars in Ohio for Agricultural Lenders. The dates are Tuesday, October 17th in Ottawa, Ohio; Wednesday, October 18th in Wooster, Ohio; Thursday, October 19th in both Washington Court House, OH, and Urbana, OH. Registration deadlines are October 10, 11 and 12, for Ottawa, Wooster, and Washington Court House/Urbana, respectively.
These seminars are excellent professional development opportunities for Lenders, Farm Service Agency personnel, county Extension Educators and others to learn about critical agricultural topics facing the industry across the state and nation such as farm policy, risk management, market outlook, and business analysis.
Featured topic and speaker at all locations in 2023…
Farm Bill 2023 Update: Direct from Washington D.C. by: John Newton, Ph.D., Chief Economist to Senator John Boozman, Ranking Member of the U.S. Senate Committee on Agriculture, Nutrition & Forestry. Newton: Ohio State University Graduate: Ph.D 2013, M.S. 2012, B.S. 2010.
2023 Topics and Speakers by Location
Ottawa, OH – October 17, 2023
- Economics of Farm Drainage: Calculating a Payback Period & Lease Terms When Installing Drainage Improvements. – Wm. Bruce Clevenger, OSU Extension Field Specialist, Farm Management
- Farm Bill 2023 Update: Direct from Washington D.C. – John Newton, Ph.D., Chief Economist to Senator John Boozman
- Farm Insurance Policy: “I think I’m covered if that happens” – Robert Moore, J.D., OSU Extension Attorney, OSU Ag & Natural Resources Law Program
- USDA – Farm Service Agency Loan Program Update – Kurt Leber, Northwest Ohio FSA, District Director – Farm Loan and Farm Program
- Commodity Grain Markets: Trends and Prospects – Seungki Lee, Ph.D., Ohio State University, Dept of Ag, Environ, & Development Economics.
- Farm Business Analysis and Benchmarking Program – Clint Schroeder, OSU Extension, Program Manager
- Economic View from the Farmgate: Land, Inputs, Margins & Tax Policy – Barry Ward, OSU Extension, Leader, Production Business Management
Wooster, OH – October 18, 2023
- Tools for Farmland Preservation – Tate Emerson, Killbuck Watershed Land Trust
- Financing Food and Agriculture – Shoshana Inwood, OSU Community, Food, and Economics Development & Jessica Eikleberry, Farmland Preservation Specialist – Wayne County Planning Office
- Farm Bill 2023 Update: Direct from Washington D.C. – John Newton, Ph.D., Chief Economist to Senator John Boozman
- Dairy Market Outlook and Industry Updates – Jason Hartschuh, OSU Extension Field Specialist, Dairy
- Economic View from the Farmgate: Land, Inputs, Margins & Tax Policy – Barry Ward, OSU Extension, Leader, Production Business Management
- Farm Insurance Policy: “I think I’m covered if that happens” – Robert Moore, J.D., OSU Extension Attorney, OSU Ag & Natural Resources Law Program
Urbana, OH – October 19, 2023
- Economic View from the Farmgate: Land, Inputs, Margins & Tax Policy – Barry Ward, OSU Extension, Leader, Production Business Management
- Farm Bill 2023 Update: Direct from Washington D.C. – John Newton, Ph.D., Chief Economist to Senator John Boozman
- FarmOn and On Farm Records – Bruce Clevenger, OSU Extension, Field Specialist – Farm Management
- Livestock Outlook and Update – Garth Ruff, OSU Extension, Field Specialist – Beef Cattle
- Commodity Grain Markets: Trends and Prospects – Seungki Lee, Ph.D., Ohio State University, Dept of Ag, Environ, & Development Economics
Washington Court House, OH – October 19, 2023
- Livestock Outlook and Update – Garth Ruff, OSU Extension, Field Specialist – Beef Cattle
- Farm Bill 2023 Update: Direct from Washington D.C. – John Newton, Ph.D., Chief Economist to Senator John Boozman
- Commodity Grain Markets: Trends and Prospects – Seungki Lee, Ph.D., Ohio State University, Dept of Ag, Environ, & Development Economics.
- Economic View from the Farmgate: Land, Inputs, Margins & Tax Policy – Barry Ward, OSU Extension, Leader, Production Business Management
- FarmOn and On Farm Records – Bruce Clevenger, OSU Extension, Field Specialist – Farm Management
The registration cost to attend one of the Ag Lender Seminars is $75.00 per guest. Payments can be made by credit card online or mail a check. Registration is open online at: https://u.osu.edu/aglenderseminars/
Registration questions can be directed to Wm. Bruce Clevenger, OSU Extension Field Specialist, Farm Management, at 419-770-6137 or clevenger.10@osu.edu
OSU Extension conducts the seminars from input from Ag Lenders, County Extension Educators and Extension Specialists. The seminars are designed to provide information that Ag Lenders will use directly with their customers, indirectly within the lending industry, and as professional development for current issues and trends in production agriculture. OSU Extension has been offering Ag Lenders Seminars for over 40 years.
Tags: Ag Lender Seminar, Insurance, Farm Records, tax, Beginning Farmer Tax Credit, farm bill
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What type of business entity is your farm? A common answer to that question is unfortunately the wrong answer: "I don't have a business entity for my farm." That's not a correct answer because every farm engaged in the business of farming is a business entity in the eyes of the law. Our new law bulletin series on "Structuring Your Farm Business" explains the different types of business entities available to farm businesses. The series also addresses tax and liability characteristics of different business entities, how business entities affect Farm Service Agency programs, how to start and manage an entity, and the important role business entities can play in protecting a farming operation for the future.
Supported by funding from the National Agricultural Law Center and USDA National Agricultural Library, the new series includes these bulletins:
- A Comparison of Business Entities Available to Ohio Farmers
- Tax Characteristics of Business Entities Available to Ohio Farmers
- Farm Service Agency Programs and Business Entities
- Using Business Entities to Manage Farm Liability Risk
- Using Multiple Business Entities for a Farm Operation
- Starting, Organizing, and Managing an LLC for a Farm Business
Authors of the Structuring Your Farm Business bulletins are Robert Moore, Attorney and Sr. Research Specialist for the OSU Agricultural Law Program, Zachary Ishee, Law Fellow with the National Agricultural Law Center (now in private practice) and Barry Ward, OSU Extension's Leader of Production Business Management and Income Tax Schools Director.
The entire Sturcturing Your Farm Business series is now available in the Business Law library on farmoffice.osu.edu.
Tags: business entities, LLC, corporation, partnership, tax, liability, Farm Service Agency
Comments: 0
The 2023 Farm Office Live Season kicks off this Friday, January 20, 2023, from 10:00 - 11:30 AM. Our team of specialists and attorneys will be presenting on:
- Federal Program Updates
- Upcoming Programming
- Power of Attorney Documents
- Legislative and Regulatory Documents
- Crop Inputs and Budget for 2023
- Timely Tax Issues
The monthly Farm Office Live webinar is always free, and registration is available at go.osu.edu/farmofficelive. Register once and you'll receive notices of all of our 2023 webinars. The registration site also houses our archive of all Farm Office Live webinar recordings and materials.
Tags: Farm Office Live, Webinar, Ag Law, tax, Crop Budgets, Federal Programming, farm management
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