OSU Extension invites Ohio grain producers to grab a cup of coffee and join a grain marketing conversation with Dr. Seungki Lee, Assistant Professor in the Department of Agricultural, Environmental, and Development Economics (AEDE), from 7:30 to 8:00 a.m. on October 18, 2024. During this webinar held via Zoom, Dr. Lee will provide his insight on the October 11 World Agricultural Supply and Demand Estimates (WASDE) crop report and the current state of the Ohio grain market. “This early morning webinar will be a great way for Ohio farmers to learn more about the factors impacting the corn, soybean, and wheat markets,” said David Marrison, Interim Director for OSU Extension’s Farm Financial Management and Policy Institute. There is no fee to attend this webinar. Pre-registration can be made at go.osu.edu/coffeeandgrain. These webinars are sponsored by OSU Extension, Farm Financial Management & Policy Institute (FFMPI), and the Department of Agricultural, Environmental and Development Economics (AEDE), all located in The Ohio State University College of Food, Agricultural, and Environmental Sciences (CFAES). More information can be found at http://farmoffice.osu.edu.
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Farm Office Live Scheduled for October 18
OSU Extension will be offering the October Farm Office Live webinar on Friday, October 18, from 10:00 to 11:30 a.m. Farm Office Live is a monthly webinar of updates and outlooks on legal, economic, and farm management issues that affect Ohio agriculture. Some of the topics that will be addressed during this webinar include Fall Crop Insurance Update, USDA Drought Assistance Programs, Legal Update, Tribute to Paul Wright, Practical Out of Country Labor Resource for Farms, 4th Quarterly Fertilizer Price Summary, and Winter Program Update. Featured speakers include guest Farm Office members Peggy Hall, Jeff Lewis, David Marrison, Robert Moore, Eric Richer, and Clint Schroeder. Register for this and future Farm Office Live webinars through this link on farmoffice.osu.edu.
Farmer Tax Webinar 2024
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
Ag Tax Issues Webinar
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
2024 Agricultural Outlook and Policy Conference
Join us for the 2024 Agricultural Outlook and Policy Conference on November 19.
The 2024 Agricultural Outlook and Policy Conference is scheduled for Tuesday, November 19, 8 a.m. – 4 p.m., at the Nationwide & Ohio Farm Bureau 4-H Center on Ohio State Campus. The Agricultural Outlook and Policy Conference is the premier annual forum related to Ohio’s agricultural and food industry, covering issues important to producers, agribusinesses, and elected officials.
Agenda:
- 8 a.m. Refreshments
- 8:30 a.m. Energy Market Outlook w/ Brent Sohngen, Professor
- 9 a.m. Labor Market Outlook w/ Margaret Jodlowski, Assistant Professor
- 9:30 a.m. Food Retail Outlook w/ Jared Grant, Assistant Professor
- 10 a.m. Coffee Break
- 10:15 a.m. Farm Income Outlook w/ Ani Katchova, Professor and Farm Income Enhancement Chair
- 10:45 a.m. Livestock Outlook w/ Chen-Ti Chen, Assistant Professor
- 11:15 a.m. Macroeconomic Outlook w/ Ben Ayers, Nationwide
- 12 pm Lunch and Remarks by Dean Cathann A. Kress
- 1 p.m. Panel: “Farm Margins: Prospects and Coping Strategies for Lean Times Ahead” w/ Barry Ward, Lecturer, and Bruce Clevenger, Associate Professor and Field Specialist
- 1:45 p.m. Coffee Break
- 2 p.m. Trade Outlook w/ Ian Sheldon. Professor and Andersons Chair of Agricultural Marketing, Trade and Policy
- 2:30 p.m. Grain Market Outlook w/ Seungki Lee, Assistant Professor
- 3:15 pm Wrap Up
Special thanks to our sponsor: Ag Resource Management
Connect and Learn About Farmer Grants from SARE
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Mark Your Calendars For Ohio Maple Days!
Ohio Maple Days will be December 6th and 7th at the Ashland University Convocation Center. On Friday December 6th there will be a farm transition and estate planning workshop taught by David Marrison and Robert Moore. Then on Saturday there will be a variety of speakers covering everything maple. Sign up for one day or both days, please see the following brochures for more information. We hope to see you there!
Carbon Sequestration: for the Farmer and Landowner
Ohio State University Extension Energy Outreach Program is hosting “Carbon Sequestration: for the Farmer and Landowner” on October 29, 2024, from 8:00 to 9:30 a.m. You may join the call by going to go.osu.edu/carbon2024 or clicking the link.
Carbon Sequestration Panel:
Peggy Hall: Attorney & Director, Agricultural & Resource Law Program
Michael Estadt: Assistant Professor & Extension Educator, Pickaway County
John Porter: Outreach & Partnership Liaison | Truterra, LLC
Visit the Small Farm Area at the 2024 Farm Science Review
The Small Farm Team is excited for the 2024 Farm Science Review Small Farm Area. If you are at the 2024 Farm Science Review make sure you visit the Small Farm area at the corner of Beef Street and Equipment Ave.
to see great educational speakers, displays and demonstrations. Please see this years great line up of speakers here!
Supporting Farmers Through Dry Conditions
With an estimated 2,709,128 Ohioans currently living in some sort of dry or drought conditions, times are not easy. Unfortunately, with no relief in sight, we could be sitting in this position for quite some time. The map below indicates where each county in Ohio stands in its current dry/drought condition.
Our team at OSU Extension and other professionals around the state of Ohio are working around the clock to monitor the situation and provide resources for on-the-ground support and daily observation of the weather outlook. Click here for more information and resources.
We often forget to check in on our mental health during this time of high stress and anxiety. While many people can cope with the everyday stress of farming, it is important to know it is okay not to be okay. Especially with extreme weather conditions, it can be difficult for any farmer.
There may be no way to control this drought, but we can control how we manage our stress. Here are a few simple ways:
- Recognize the signs of it, which manifest differently in everyone.
- Acknowledge and share with someone that you are feeling
- Ensure that you are getting enough sleep, eating properly, and maintaining good physical
- When you have the time to connect with loved ones, Spending quality time with others boosts your mental health.
What are some of the signs of stress:
- Poor sleeping and/or eating habits
- Feeling overwhelmed by life
- Overly anxious or stressed
- Increased use of drugs and/or alcohol
- Increase in risky behavior
- Overly tired and/or forgetful
- Thoughts of hopelessness
If you have been feeling any of these for more than a few weeks, please reach out to someone. We have your back, and you are not alone in these thoughts. Please talk with someone.
Resources that are available to you:
go.osu.edu/farmstress go.osu/educountyresourceguide
988 Suicide and Crisis Lifeline Call, Text, or Chat 24/7 365 Ohio Care Line 1-800-720-9616
Please reach out if you have any questions or need more information to Bridget Britton at 330-365- 8160.
Bridget Britton, MSW, LSW Behavioral Health Field Specialist