Farmer/Farmland Owner Income Tax Webinar on December's Farm Office Live!

By:Jeffrey K. Lewis, Esq., Program Coordinator, OSU Income Tax Schools & ANR Extension Friday, December 01st, 2023
Combine in a field.

Farmer and Farmland Owner Income Tax Webinar
Barry Ward & Jeff Lewis, OSU Income Tax Schools

Are you a farmer or farmland owner wanting to learn more about the recent tax law issues? If so, join us for this webinar on Friday, December 15th, 2023 from 10am to noon. This webinar is a part of our Farm Office Live Series and serves as our Farm Office Live! Webinar for December. To register for this webinar go to: https://go.osu.edu/register4fol

This webinar will focus on issues related to farmer and farmland owner income tax returns as well as the latest news on CAUV and property taxes in Ohio and the big changes to the Ohio Commercial Activity Tax (CAT). This two-hour program will be presented in a live webinar format via Zoom by OSU Extension Educators Barry Ward, David Marrison and Jeff Lewis along with Purdue faculty member Dr. Michael Langemeier. Individuals who operate farms, own property, or are involved with renting farmland should participate.

Topics to be discussed during this webinar include (subject to change based on tax law change):

  • Economic Outlook 

  • Depreciation Update 

  • Employee vs. Independent Contractor 

  • Corporate Transparency Act/Beneficial Owners Information Reporting

  • 1099-K Changes 

  • Charitable Remainder Trusts 

  • Basis Allocation Land Acquisition – Allocating Basis to Residual Fertility for Future Deductions 

  • Defining Farm Income to Avoid Paying Estimated Tax 

  • Keeping an Eye Forward on Estate/Gift Tax Limitation 

  • Reminder – Keeping an Eye on Tax Cuts and Jobs Act Provisions Sunsetting After 2025 Tax Year

  • Ohio Tax Update (CAUV/Property Tax Update, CAT Changes, Beginning Farmer Tax Credit, Ohio Tax Law Interpretation – Ohio Supreme Court Issues New Ruling)

  • Indiana Tax Update

To register: https://go.osu.edu/register4fol

For more information, contact Barry Ward at ward.8@osu.edu or Jeff Lewis at lewis.1459@osu.edu

Posted In: Tax
Tags: Farm Tax, Ag Tax, Income Tax