Get ready for tax season!
Are you getting the most from your tax return? Consider attending OSU Extension’s Farmer and Farmland Owner Income Tax Webinar. This two-hour event will address tax issues specific to this industry. Content focuses on important tax issues and will offer insight into new COVID-related legislation.
The date is December 3 from 6:30 to 8:30 p.m. If you are not able to attend the live webinar, all registered participants will receive a link to view the recorded webinar at a time of their convenience. This link will be available through the tax filing season.
The cost for the webinar is $35. To get more details and to register, go to https://go.osu.edu/farmertax2020.
OSU Extension Greene County and the Farm Office Team invite you to the 2020 Farmer and Farmland Owner Income Tax Webinar
Thursday, December 3
6:30 – 8:30 p.m.
Cost: $35.00
Details and registration: https://go.osu.edu/farmertax2020
Topics to be discussed include:
- Tax Planning in an Unusual Year – Income Issues (CFAP & other government payments, prevent plant indemnity payments, revenue crop insurance indemnity payments)
- 1099-MISC & 1099-NEC
- Depreciation Issues
- Farm Lease Income and Self-Employment Tax
- Like Kind Exchanges (farm machinery and equipment no longer are eligible for this provision – this is a significant change), how this change may affect state income tax, your Social Security credits and eventual payments
- Tax Issues Related to COVID-related Legislation (tax credits, PPP loans, EIDL loans etc.)
- Qualified Business Income Deduction, Sales to Cooperatives, Lease Income