Are you a farmer or farmland owner wanting to learn more about recent tax law changes and proposals? If so, join OSU Extension Educators Barry Ward, Jeff Lewis, Robert Moore and David Marrison on Friday, December 6 at 10 a.m. for a special edition of our Farm Office Live webinar presented by OSU’s Income Tax School. The team will discuss tax issues that may affect farmers and farmland owners for the 2024 tax season and beyond.
Topics include:
- Farm Economy and Tax Planning
- Tax Planning in Low Income/Drought Years
- Beneficial Ownership Information (BOI) Reporting
- Pending Sunset of Larger Estate Tax Exclusion Amount (Unified Credit)
- Residual Fertility/Fertilizer Deduction
- Clean Fuel Production Credit (I.R.C. § 45Z)
- Current Ag Use Valuation (CAUV) Changes in 2024
- IRC § 45Q – Credit for Carbon Oxide Sequestration
- Farm Loan Immediate Relief Under Inflation Reduction Act: Income Tax Options Triggered by Corrected 1099s
- Taxability of USDA Discrimination Financial Assistance Awards
- Pending Expiration (Sunsetting) of other Tax Cuts and Jobs Act (TCJA) Provisions
This two-hour program will be presented in a live webinar format via Zoom. Individuals who operate farms, own property, or are involved with renting farmland are encouraged to participate. Registration is necessary and if you’re a regular Farm Office Live attendee, you’re already registered for the webinar. For others, register at https://go.osu.edu/farmofficelive.