Are you a farmer or farmland owner wanting to learn more about the recent tax law issues? If so, join a webinar on Dec. 6 from 10 a.m. to noon. This webinar is a part of the Farm Office Live Series and serves as the 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 another reminder regarding 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. 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
• tax planning for a lower income environment
• depreciation update
• employee vs. independent contractor
• corporate transparency act/beneficial owners information reporting
• 1099-K changes
• 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 tax cuts and jobs act provisions sunsetting after 2025 tax year
• keeping an eye forward on estate/gift tax limitation
• Ohio tax update (CAUV/property tax update, CAT Changes, beginning farmer tax credit)
For more information, contact Ward at [email protected] or Lewis at [email protected].
