OSU Extension Announces Two-Day Tax Schools for Tax Practitioners & Agricultural & Natural Resources Income Tax Issues Webinar

For well over 55 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.

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).

Some highlights include details of energy and vehicle tax credits, Beneficial Ownership Reporting (BOI), upcoming expiring provisions of the Tax Cuts and Jobs Act, and more. We have a couple of chapters in this year’s National Income Tax Workbook (NITW) that we haven’t had in a number of years that may be of interest – Real Estate Rental Activity Issues and Related Party Issues.

What sets our schools apart is 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 2025 Checkpoint Federal Tax Handbook at a substantial discount, and 50% off our Ethics/PSR Webinar.

Registration for 2024 is open and can be found by visiting https://go.osu.edu/tax2024

If you cannot register online, email Jeff Lewis (lewis.1459@osu.edu) to set up an alternative.

Dates and Locations for 2024 Income Tax Schools

Oct. 31 – Nov. 1 Ole Zim’s Wagon Shed, Gibsonburg (Fremont)

Nov. 4-5 Presidential Banquet Center, Kettering (Dayton)

Nov. 7-8 Old Barn Restaurant & Grill, Lima

Nov. 12-13 Muskingum County Conference and Welcome Center, Zanesville

Nov. 19-20 Ashland University, John C. Meyers Convocation Center, Ashland

Nov. 21-22 Hartville Kitchen, Hartville

Nov. 25-26 – Intro Course (Columbus)

Dec. 4-5 Nationwide & Ohio Farm Bureau 4-H Center, Columbus

Dec. 9, 10, 12, 13 Four-Part Virtual Webinar Series, Zoom

Dec. 16 – Ethics Webinar, Zoom

Dec. 19 – Ag Tax Issues Webinar, Zoom

Two-Day Tax Schools Topics Include:

• Trusts and Estates
• Related Party Issues
• Limited Liability Company Issues
• Business Entity Tax Issues
• IRS Issues
• Business Tax Issues
• Real Estate Rental Activities
• Agricultural and Natural Resource Tax Issues
• Individual Tax Issues
• New and Expiring Legislation
• 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. 16^th. 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 on Thursday, Dec. 19, from 8:45 a.m. to 3:30 p.m. If you are a tax practitioner who represents farmers or rural landowners or is a farmer or farmland owner who prepares your taxes, this 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 mail or online at:

Intro to Tax Preparation Course

Our new Introduction to Tax Preparation for the Beginning Tax Professional is offered for the second year. This year will be held in Columbus on Nov. 25-26 at the Nationwide & Ohio Farm Bureau 4-H Center. This introductory course seeks to not only introduce beginning tax professionals to tax vocabulary, 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, participants may contact Barry Ward at 614-688-3959, ward.8@osu.edu, or Jeff Lewis at 614-247-1720, lewis.1459@osu.edu.

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 6th, 2024, 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, the latest news on CAUV and property taxes in Ohio, and another reminder regarding changes to the Ohio Commercial Activity Tax (CAT). OSU Extension Educators Barry Ward, David Marrison, and Jeff Lewis will present this two-hour program in a live webinar format via Zoom. 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)

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

Tax practitioners, farmers, and farmland owners are encouraged to connect to the Agricultural and Natural Resources Income Tax Issues Webinar (via Zoom) on December 19th from 8:45 a.m. to 3:30 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. The webinar will also benefit farmers who prepare and file their own taxes.

Tentative topics to be covered during the Ag Tax Issues webinar include:

• New Legislation and Hot Topics
• Tax Planning for Lean Years
• Conservation Issues
• Disaster and Drought Tax Issues
• Entity Tax Issues: Split Interest Purchases, Partnership Issues
• Expensing and Depreciation, with a deep dive on Section 179
• Retirement Issues
• Lease v. Purchase, Capital Leases on the Farm
• Selling and Trading Property

The cost for the one-day school is $180 if registered by December 5th. After December 5th, 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://go.osu.edu/2024agtaxissues

For any questions, please get in touch with Barry Ward at ward.8@osu.edu or Jeff Lewis at lewis.1459@osu.edu