Ag Business

Agricultural & Natural Resources Income Tax Issues Webinar

Written by Jeffrey K. Lewis, Esq., Legal Associate, Agricultural and Resource Law Program, Income Tax Schools

Barry Ward, Director, Income Tax Schools at The Ohio State University
Jeff Lewis, Legal Associate, Income Tax Schools at The Ohio State University

Tax practitioners, farmers, and farmland owners are encouraged to connect to the Agricultural and Natural Resources Income Tax Issues Webinar (via Zoom) on December 15th from 8:45 a.m. to 3:30 p.m. The event is sponsored by Income Tax Schools at The Ohio State University and Purdue Income Tax Schools.

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. Farmers who prepare and file their own taxes will also benefit from the webinar.

 

Topics to be covered during the Ag Tax Issues webinar include:

Outlook for Farm Economy
Legislative and Regulatory Update
Farm Partnership Tax Matters
Installment Method on the Farm
Healthcare Options for Farmers in 2026
Sale and Exchange of Farm Property
Cost Recovery in 2025 and Beyond
CCC Marketing Assistance Loans
Residual Fertility/Fertilizer Deduction
Taxability of Highly Pathogenic Avian Influenza (HPAI) Indemnity Payments
Income Tax Issues – 4-H & FFA Projects
R&D Tax Credits – Credit for Increasing Research Activities (I.R.C. § 41)
Changes to Corporate Transparency Act – Beneficial Ownership Information (BOI) Reporting
Managing Basis in Estates

The cost for the one-day school is $180 if registered by December 1st. After December 1st, 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 also 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.

Instructors will include Jared Foos (President, Foos Garvin Accounting, Inc & instructor for many Ohio and National Tax Courses), Barry Ward, Jeff Lewis, David Marrison, Robert Moore (all with The Ohio State University) and Michael Langemeier (Purdue University).

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/tax2025

For any questions, please contact Barry Ward or Jeff Lewis at taxschools@osu.edu

Pasture and Forage Risk Protection? – Enroll by December 1st

By: Eric Richer, Aaron Wilson, Mike Estadt, Garth Ruff

It is no secret that hay producers and pasture managers in Ohio have experienced lower production in the past two years than the previous several years due to significant drought in parts of the state. Similar to row crop production, weather risk can present significant challenges for our livestock producers who produce their own forages and/or graze livestock. Those producers may consider Pasture, Rangeland, and Forage (PRF) Insurance as part of their risk management strategy. Enrollment in this insurance product closes December 1st each year.

The Basics

PRF is a single-peril (rainfall only) and area-based insurance product. Area-based means that indemnity payments will not be based upon individual producer’s experience, rather, payments will be based upon a grid’s deviation from historically normal rainfall. It covers less than average rainfall levels in a particular grid up to the level of coverage that a farmer selects. Rainfall is measured through the National Oceanic and Atmospheric Administration Climate Prediction Center (NOAA CPC). A producer will have to make several choices including the coverage level of forage production they wish to insure, the rainfall index months to cover, the productivity level of the field or fields they wish to enroll and the number of acres they wish to insure. Continue reading Pasture and Forage Risk Protection? – Enroll by December 1st →

Lorain County Planning for the Future of your Farm Workshop, December 11 & 17

 This program will be held on December 11 and 17 from 6-9 PM with a light meal starting at 5:30 pm.

If you and your family are grappling with the critical issue of how to transition your farm operation and assets to the next generation, OSU Extension invites you to attend the “Planning for the Future of Your Farm Workshop” on _December 11 & 17_from 6:00 – 9:00 p.m. at _the Lorain County Extension Office with a light meal starting at 5:30.

This two-evening workshop will help your family to actively plan for the future of the farm business.  Learn how to have crucial conversations about the future of your farm and gain a better understanding of the strategies and tools that can help you transfer your farm’s ownership, management, and assets to the next generation. We encourage parents, children, and grandchildren to attend together to develop a plan for the future of the family and farm.

Teaching faculty for the workshop are David Marrison, OSU Extension Farm Management Field Specialist, and Robert Moore, Attorney with the OSU Agricultural & Resource Law Program.

Workshop topics include: Developing Legacy Goals; Planning for the Transition of Management; Planning for the Unexpected; Communication and Conflict Management; Legal Tools and Strategies; Developing Your Team; Getting Your Affairs in Order; and Selecting an Attorney.

The base registration fee of $35_includes course materials, refreshments and light meal prior to evening’s workshop.  Registration is limited and should be received no later than December 9.

To get registered, please reach out to the Extension office or stop by to fill out a registration form. There are limited spots available, so don’t wait! We hope to see you there! You can also find the flyer and registration form on our county page here: https://lorain.osu.edu/events/planning-future-your-farm-workshop

Webinar for New Owners of Farmland

Written by Peggy Kirk Hall, Attorney and Director, Agricultural & Resource Law Program

Are you a new owner of farmland? Whether inheriting or purchasing farmland for the first time, a new farmland owner must choose what to do with the land. Farm it, sell it, lease it, preserve it — all are viable options that require an understanding of economic considerations and legal requirements.

Our upcoming webinar for the National Agricultural Law Center can help. Join me and Robert Moore on October 15, 2025 at Noon EST as we present “So Now You Own a Farm: A Beginner’s Guide to Farmland Ownership.” 

Based on our recently published Beginner’s Guide to Farmland Ownership, this webinar will provide practical insights and strategies on new farmland ownership.  We’ll cover topics such as:

  • Estimating the value of farmland;
  • How to sell, lease, manage, or preserve the land;
  • Protecting the farmland from risk.

The session can help both new farmland owners and the professionals who advise them better navigate the responsibilities, options, and decision-making that comes with farmland ownership.  Register for the free online webinar at https://nationalaglawcenter.org/webinars/beginners-farmland-ownership/. 

Annual Cost of Storing Ohio Corn and Soybeans Since 1973

By: Carl Zulauf, Professor Emeritus, Ohio State University; and Eric Richer, Associate Professor and Field Specialist , Ohio State University Extension

The cost of storing the average Ohio corn and soybean bushel since 1973 is examined.  Storage cost is measured three ways:  per bushel, relative to harvest price, and per acre of production.  All three measures are at or near post 1973 highs as total costs to store corn and soybeans have roughly doubled since 2020 and now exceed $1 per bushel for both corn and soybeans over a 12 month storage period.  This notable increase occurred after a long period (1974-2019) during which declining interest rates and thus interest opportunity storage cost per bushel largely offset increasing physical storage cost per bushel.  These storylines underscored the important role of interest rates and thus interest opportunity cost in offsetting or reinforcing on-going increases in physical storage cost.  The reinforcing role has been especially noticeable since 2020.

Procedures:

Starting this study with the 1974 marketing year postdates the increase in price variability that occurred in the early 1970s (Kenyon, Jones, and McGuirk).  The study ends with the last complete marketing year, 2024.  Cash price is the average monthly price paid to Ohio farmers by first handlers as reported by USDA (US Department of Agriculture), National Agricultural Statistics Service.  Storage starts in October, the month with the lowest average cash price.  Storage cost includes (a) physical storage cost at commercial facilities to keep the crop in useable condition and (b) interest opportunity cost of storing instead of selling at harvest.  Annual physical storage cost is from USDA, Commodity Credit Corporation through the 2005 marketing year.  Thereafter, it is for an Ohio country elevator, cross checked with another first delivery point.  Interest opportunity storage cost is calculated by multiplying (a) the October Ohio cash price times (b) the average one year US Treasury bill rate quoted on an investment basis for October as reported by the Federal Reserve Bank of St. Louis.

Physical storage cost for corn and soybeans can vary, even within a state, across different local markets in any year due, in part, to different local supply and demand conditions for storage.  Moreover, the structure of commercial storage cost for corn and soybeans often varies from year to year.  Common structures are (a) monthly or daily charge per bushel, (b) monthly or daily charge per bushel plus an upfront charge, and (c) an initial charge for a period, for example 3 months, then a monthly or daily charge per bushel.  To create a standard format across years, physical storage cost were converted into a cost for the year (i.e., 12 months of storage). Continue reading Annual Cost of Storing Ohio Corn and Soybeans Since 1973 →

Planning for the Future of Your Farm Online Farm Transition and Estate Course Now Available

OSU Extension is pleased to announce that a new online self-paced course titled “Planning for the Future of Your Farm” is now available through OSU’s Professional and Continuing Education platform. This course is designed to help farm families navigate the complex process of farm transition and estate planning.

Using OSU Extension’s structured five-phase approach, participants explore strategies for transferring ownership, management, and assets to the next generation. The course emphasizes effective family communication, legal and financial planning tools, and proactive decision-making.

Whether your farm is large or small, this course provides the guidance that will help you to create a customized transition plan that reflects your family’s goals and values. Families are encouraged to participate together to develop a shared vision for the future. Continue reading Planning for the Future of Your Farm Online Farm Transition and Estate Course Now Available →

Time to Review Your Health Care Power of Attorney and Living Will

Written by Robert Moore

Planning for the future of a farm involves much more than deciding who will operate the business or inherit the land. It also means making decisions about your personal care if you cannot speak for yourself. Few topics are harder to consider than end-of-life treatment, but addressing them in advance can save loved ones from confusion and  conflict at a difficult time. Two legal documents are especially important for these decisions: the Health Care Power of Attorney and the Living Will Declaration. Continue reading Time to Review Your Health Care Power of Attorney and Living Will →

2026 Crop Insurance Decision – a cut and paste from last year or not?

By Clint Schroeder, Program Manager for Ohio Farm Business Analysis Program and Eric Richer, Field Specialist, Farm Management

With the projected price discovery period now closed for winter wheat Ohio farmers have until September 30, 2025, to select the crop insurance coverage that best suits their operation. However, the decision on policy type and coverage levels for 2026 crops could be impacted by the passage of the One Big Beautiful Bill Act (OBBBA). Signed into law on July 4, 2025, OBBBA offers higher area-based policy coverage levels, increases premium support, and expands support for beginning farmers and ranchers. This article will highlight these key changes so that producers can make more informed decisions for 2026 production on their farm. Continue reading 2026 Crop Insurance Decision – a cut and paste from last year or not? →

A Recent Change to FSA Program Payments is Good for Farmers

By:Robert Moore

The One Big Beautiful Bill (HB 1) has received both praise and criticism from many commentators. However, one change that is clearly positive for farms is the provision allowing LLCs, corporations, and other liability-limiting entities to be eligible for multiple payments. This eliminates the need for some farms to choose between multiple FSA payments and unnecessary liability exposure.

Under the old rules, which remained in place through previous Farm Bills, LLCs and corporations were treated as a single “person” for FSA payment limitation purposes. This meant they were capped at one annual payment limit, historically $125,000 for programs such as Agricultural Risk Coverage (ARC) and Price Loss Coverage (PLC), regardless of the number of owners or shareholders involved. To access multiple payment limitations, many farms had to operate as general partnerships, which increased exposure to personal liability.

In contrast, the new rules introduced by HB 1 treat LLCs and S corporations as pass-through entities, similar to partnerships. This allows each actively engaged member or shareholder to qualify for a separate payment limit, now inflation-adjusted to a base of $155,000 per person or entity. Continue reading A Recent Change to FSA Program Payments is Good for Farmers →

USDA NASS Survey – County Cash Rent Averages for 2025

Barry Ward, Ohio State’s leader in production business management and director of the income tax schools at Ohio State University, recently sent out an update to Extension offices about the county cash rent estimates for 2025. This data was released by USDA NASS this past Friday.

For Lorain County Farmers, the 2025 estimate average came out to $141 per acre. This is a 6.8% increase on the estimate from 2024. The 5-year average is $131 per acre.

While this information can provide a good starting point for conversations between landowners and their tenants, there are other considerations that can help you settle on an agreed rate for your ground.

Some of the other things to consider would be the cost of property taxes on the rented land, soil type, production history, land improvements (like tile vs no tile), expected crop prices, input costs, and anything else that the landowner might prioritize.

Ultimately, a fair cash rent will usually balance the local going rates with what the land can realistically produce; while ensuring the tenant can earn a margin and the owner gets competitive compensation.

There is also good information regarding farm leases on the OSU Law Library which can be located on the OSU Farm Office webpage, here: https://farmoffice.osu.edu/home