We still have a few spots left for the June 13th Class.
Contact us at 513-732-7070 or email jenkins.188@osu.edu to sign up today!!
Author: burdsall.9
2023 Junior Fair Royalty Interest Form
Some exciting new changes this year with our Junior Fair Royalty.
A male and female representative will be chosen. In addition, the representatives have expanded to include the following: Dairy Goat Industry Representative, Meat Goat Industry Representative, Pygmy Goat Representative, and Fiber Representative.
Interest forms are being accepted for Clermont County Junior Fair Royalty candidates. Interest forms must be submitted no later than 11:59 p.m. on Friday, June 16th. Junior Fair Royalty represent the Junior Fair and their respective industries at shows, contest, and events throughout the Clermont County Fair. After submitting your interest form, you will receive a link via email for the online royalty application (within 2-4 days).
Please make sure the email address you provide below is a current one and spelled correctly. If you have questions, please contact Stacey Sandfoss, Cindy Stegbauer, or Faith Stegbauer.
FairEntry Is now Open!!!
FairEntry is open for registration and will close on May 11th.
All Clermont County Junior Fair livestock exhibitors are required to register their livestock projects in FairEntry. All livestock coming to the fair with the exception of horses and steers need to register via FairEntry. Steers will be added separately, by JFB, since they have already tagged and weighed in. Horses need to register using the previously communicated form at this link.
The link for FairEntry is https://fairentry.com/Fair/SignIn/18423. If the exhibitor is a 4-H member use the 4-H Online sign-in option using the same log-in information you used to register for 4-H this year. FFA members who are not in 4-H should use the FairEntry Sign-In.
FairEntry is also where you will have to sign up for showmanship as well as registering your animals.
If the livestock you are registering does not have a tag yet, please put an X’s in that field and JFB will populate that at the tag-in in May. All other livestock are REQUIRED to enter the entire tag or scrapie number. ALL 15 digits for RFID round button tag. All letters and numbers on scrapie or tattoo for those that use that identifier.
For Market Hogs, Breeding Ewes and Meat Breeding Goats, exhibitors will be required to upload clear pictures of the animals with legible tags since they are not coming to tag-in day at the fairgrounds.
Please note: The following animals will NOT come to the fairgrounds for tag in but will need to register on FairEntry by May 11: dairy cattle, dairy goats, harness, pack, Pygmy, fiber, poultry, and rabbits.
Also, please remember that any goats or sheep may have a scrapie tag or tattoo. Please use your respective tag or tattoo to register your goats or sheep.
When registering your goats and sheep in FairEntry be sure to enter the complete Scrapie Tag number to include the state letters and all the numbers. Below are pictures showing what the tag numbers look like and are good examples of the photos you should upload. In this example you would enter all digits, example OH72591282
Attention All Clermont County Fair Horse Exhibitors
Registration is now open. Members registered for a horse project will need to complete the Horse Registration form, found at the link below. Exhibitors are required to upload a picture of their horse on this form and can register up to three horse projects. This includes a horse, pony and/or a yearling/driving horse. Registration deadline is May 10th at midnight.
Horse Lease Agreement
Members planning to lease their project horse will need to complete a lease agreement and turn it in to their club advisor by May 10th.
You can also find the horse lease guidelines below.
Dining with Diabetes Virtual Classes
Virtual Dining with Diabetes Cooking School
Do you or someone you love have diabetes? With 30 million diabetics in America, you are not alone! You will learn how to incorporate good, healthy cooking techniques and other practices to help control your blood sugar through our cooking school and nutrition education program designed for people with diabetes and their family members or caregivers.
Dates:
Cost: FREE
Registration: go.osu.edu/dwdspring23
Ohio Saves Week Kicks-off
Make time to shout out for Ohio Saves Week February 27 – March 3.
Take this opportunity to improve your financial wellness by joining the movement! This is a good time of year to set a goal, make a plan and keep in touch as we as citizens and taxpayers gather our receipts, statements and W-2 forms to file income tax and pay our fair share for living and working in the United States of America.
- Kick-off the week by taking the America Saves Pledge
PLEDGE NOW
- Join a daily lunch and learn from 12:00-12:30 pm to explore this year’s theme, “A Financially Confident You” For more details, including registration for the lunch and learns click on link below:
PLEDGE NOW!!
Whether you are hoping to begin saving or are working toward a specific goal, Ohio State University Extension Educators are ready to share tools and information to support you on your way. Savers who make a plan are twice as likely to save successfully.
Keep thinking as we follow the lead from a popular Broadway musical Annie!
Tomorrow “You’re only a day away”
Written by: Margaret Jenkins, OSU Extension Educator, Clermont County, jenkins.188@osu.edu
Reviewed by: Beth Stefura, OSU Extension Educator, Mahoning County, stefura.2@osu.edu
References:
https://americasaves.org/for-savers/pledge/
https://americasaves.org/connect-to-a-campaign/ohio-saves/
Koskelainen, T. “Financial literacy in the digital age-Research agenda.” The Journal of Consumer Affairs Volume 1 (2023): 1-22
Come join The OSU Extension Team of Clermont County
Excess Fertilizer Tax Strategy
Recently, there has been renewed interest in a tax strategy involving excess fertilizer in farmland. The idea behind this strategy is to allocate a value to any residual fertilizer in farmland that was recently purchased or inherited. The value of the fertilizer is then deducted to offset income. While this strategy does have merit, it is considered by some tax professionals to be an aggressive tax strategy and caution should be used when implementing.
This strategy is centered on excess fertilizer being in the soil when farmland is acquired. Excess fertilizer is that amount of fertilizer over and above the base nutrient levels. The excess fertilizer is treated as a separate asset that can be distinguished from the soil. A value is attributed to the excess fertilizer and that value is amortized based on the depletion rate of the fertilizer. In essence, the new owner of the farmland is claiming they can put a verifiable value on the excess fertilizer and then amortize the value of the fertilizer.
In a 1992 Technical Advice Memorandum (TAM), the IRS stated that to amortize the cost of fertilizer acquired with land, the landowner must establish the extent of the fertilizer, the value of the fertilizer and the depletion rate of the soil nutrients. The burden is on the taxpayer seeking the deduction to prove the extent, value and depletion rate of the soil nutrients. It is important to note that a TAM is not legal authority and cannot be cited as authority, but it does potentially give insight as to the position the IRS would take in a similar matter.
To help explain this concept, consider the following example:
Arthur applied $15,000 of fertilizer to his farm in November 2022 in anticipation of growing a crop in 2023. In January 2023, Arthur dies unexpectedly, and his son Alex inherits the farm. Alex is a farmer and intends to grow a corn crop on the farm in 2023. Alex hires an agronomist who determines that all the fertilizer applied by Arthur is in excess of base nutrient levels and will be depleted over a three-year period. Alex deducts the $15,000 of excess fertilizer in 2023, 2024 and 2025.
If an attempt is made to deduct excess fertilizer, something like the above example is an ideal scenario. The fertilizer applied is easily documented, no crop has yet been planted, and the agronomist can establish the depletion rate. All aspects of the strategy should be carefully documented, including a report from the agronomist. Peril awaits those who implement this strategy after they have applied additional fertilizer, grown a crop or can otherwise not properly document the excess fertilizer and/or depletion rate.
While the above example uses an inherited farm, the same strategy can be used with purchased farms. Farms purchased at public auction may sell for a premium if excess fertilizer is present. The premium, if properly documented, can potentially be deducted as excess fertilizer. For farms purchased at private sale, the buyer and seller should address excess fertilizer in the purchase contract and declare a mutually agreeable amount and value. If the buyer allocates a portion of the purchase price to excess fertilizer but the seller does not, the inconsistency in reporting could cause the IRS to deny the strategy.
While identifying excess fertilizer can be a benefit to the buyer, it may be detrimental to the seller. The seller should treat the excess fertilizer as a sale of fertilizer which is subject to ordinary income and thus possibly a higher tax rate. Thus, the seller may be reluctant to participate in allocating a portion of the purchase price to excess fertilizer. Also, if the buyer were to sell the land in the future, they will need to recapture the excess fertility as ordinary income.
As stated above, allocating a value to excess fertilizer in newly acquired farmland does have merit. However, this strategy has never been formally approved by the IRS and, until it is, comes with the risk that the IRS could reject the deduction of excess fertilizer. Additionally, states are not obligated to follow the IRS’ lead and one state, Minnesota, has a history of closely scrutinizing the strategy. For anyone considering implementing this strategy, they should seek advice from their tax advisor to minimize risks of an adverse IRS ruling and employ an experienced agronomist or soil scientist to provide technical guidance on fertilizer levels and depletion rate. In addition to seeking good, qualified advice, the landowner should be sure that every aspect of the strategy is well documented.
Note: this strategy can apply to any addition to the soil such as lime or micronutrients.
To read this article from the Source click here.
2023 East Ohio Women in Agriculture Conference Youth Symposium
Ohio State University (OSU) Extension will host the 8th Annual East Ohio Women in Agriculture Conference. The conference is planned for Friday, March 24 from 9:00 a.m. – 3:30 p.m. at the Shisler Conference Center, 1680 Madison Ave, Wooster, OH 44691. All women and young women (high school age) who are interested, involved in, or want to become involved with food, agricultural, or natural resources production or small business are encouraged to attend.
New for 2023 – High school and college undergraduate students are invited to present on an agriculture-related topic. This may be a research project on a topic related to agriculture or natural resources, an aspect of an FFA Supervised Agriculture Experience (SAE), or an agriculture or natural resource topic of special interest to the student. Students may present as an individual or part of a team (maximum of 5 members).
Students are asked to submit their proposals (http://go.osu.edu/EOWIATeenPresenter) by Sunday, February 26, 2023. Scoring considerations are as follows.
50 Points – Agriculture or Natural Resources Related Topic
30 Points – Program description including connection between the topic and the field of agriculture and/or natural resources.
10 Points – Future Implications
10 Points – Research method, evaluation and/or sources for topic of interest
Five projects will be selected for 5-7 minute Ignite Sessions (2:45-3:30 pm). Those five projects, as well as additional projects, will be invited to display a poster during the event from 8:30 am until 3:30 pm. Posters do not need to be manned, although an optional meet the poster presenter time will be held 12:00 – 12:30 pm.
Students will be notified of their acceptance by March 3, 2023.
Students who are selected for the Ignite session and/or poster sessions may attend the full event, including lunch, for $10. There is no fee for students who are only attending the poster presenter time or the Ignite session and not having lunch.
For additional information, please contact Chris Kendle, OSU Extension Tuscarawas County at 330-339-2337.
2023 EOWIA Youth Symposium
OSU Extension to Host 2023 East Ohio Women in Agriculture Conference
Ohio State University (OSU) Extension will host the 8th Annual East Ohio Women in Agriculture Conference. The conference is planned for Friday, March 24 from 9:00 a.m. – 3:30 p.m. at the Shisler Conference Center, 1680 Madison Ave, Wooster, OH 44691. All women and young women (high school age) who are interested, involved in, or want to become involved with food, agricultural, or natural resources production or small business are encouraged to attend.
The conference program features a networking fair and sixteen breakout sessions presented by OSU Extension educators, producers, and partner agencies. Sessions this year are focused around four themes Business & Finance, Plants & Animals, Home & Family, and Special Interest (includes break-out with Ohio FFA State Officers). The conference keynote will be led by Rebecca Miller, Farm and Dairy Editor-in-Chief. Her keynote presentation “Clinging to context in a noisy world: don’t lose sight of the “why” in what you do” will. Agriculture is often so much more to us than a job, which makes it hard when we face push back — from people around us and from influences outside of our control. Rebecca will share her path through farming and journalism and how she’s grappled with the questions. New this year is a Youth Symposium opportunity for high school and college students to present their research, SEA, capstone, thesis, or other study projects.
Registered participants, community organizations, or businesses interested in sponsorship can contact 740-722-6074.
Interested individuals can register for the conference online at go.osu.edu/eowia2023 .
Cost of the conference is $60 for adult participants and $30 for students. Conference fee includes conference participation, breakfast, lunch, and conference handouts.
Deadline for registration is Friday, March 10.
For additional information locally, please contact Emily Marrison, OSU Extension Coshocton County at 740-722-6074.
Stay connected with the Ohio Women in Agriculture Learning Network on Facebook @OHwomeninag or subscribe to the Ohio Women in Agriculture blogsite at u.osu.edu/ohwomeninag.