Farm Taxes

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

Farmer and Farmland Owner Income Tax Webinar

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

Barry Ward & Jeff Lewis, Income Tax Schools at The Ohio State University

Are you a farmer or farmland owner wanting to learn more about recent tax law changes which were a part of the One Big Beautiful Bill Act? If so, join us for a live webinar on Friday, November 14, 2025, from 10:00 a.m. to noon, as part of our Farm Office Live Series.

To register visit: https://go.osu.edu/register4fol

This webinar will focus on issues related to farmer and farmland owner income tax returns as well as the latest news on CAUV and property taxes in Ohio. This two-hour program will be presented in a live webinar format via Zoom by OSU Extension Educators Barry Ward, David Marrison, Jeff Lewis, and Robert Moore. Anyone who operates a farm, owns farmland, or rents agricultural property will benefit from this timely update.

Topics to be discussed include:

  • Tax Provisions of the One Big Beautiful Bill Act:
    • Changes to Section 179 Expensing and Bonus Depreciation
    • Changes to 1099 Thresholds
    • Changes to Estate Tax Exemption
    • And many more….
  • Tax Planning in Low Income Years
  • Residual Fertility / Excess Fertility Deduction
  • Research & Development Tax Credit
  • Sale of Inherited Farm Assets
  • Valuation of Unharvested Crops
  • Special Use Valuation
  • Income Tax Issues for 4-H & FFA Projects
  • Ohio Tax Update (CAUV/Property Tax Update, Income Tax Changes)

Registration: https://go.osu.edu/register4fol

For more information, contact Barry Ward at ward.8@osu.edu or Jeff Lewis at lewis.1459@osu.edu

Income Tax Schools at The Ohio State University Summer Tax School 2025

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

Income Tax Schools at The Ohio State University Announces Summer Income Tax School Webinar
Barry Ward & Jeff Lewis, OSU Income Tax Schools

An “Update on Current Tax Issues and Law Changes” along with a section on “Taxpayers in Trouble” are the focus of the upcoming Summer Tax School Webinar featured by Income Tax Schools at The Ohio State University.

This webinar is scheduled for August 11th and registration is now open. The registration page can be accessed at: go.osu.edu/summertaxschool.

This Summer Tax School is designed to update tax preparers about current tax issues, new law changes and tax legislation. This school will also include a section on working with “taxpayers in trouble”. Continue reading Income Tax Schools at The Ohio State University Summer Tax School 2025 →

How Many Farms Pay Estate Taxes?

Written by Robert Moore

Estate taxes have been a hot topic lately, especially with the looming expiration of the Tax Cuts and Jobs Act (TCJA). The TCJA significantly increased the federal estate tax exemption, which stands at $13.99 million per person for 2025. However, if Congress does not intervene, that exemption will drop to approximately $7.2 million in 2026, reverting to pre-TCJA levels.

Estate Taxes and Farms: The Current Reality

Despite the frequent debate about estate taxes, very few farm estates actually owe them. According to the USDA, only about 0.3% of farm estates are subject to federal estate tax under the current exemption. In fact, in 2022, the USDA estimates only 87 farm estates nationwide had to pay any federal estate tax at all.

If the exemption decreases in 2026, more farms will be affected, but the overall percentage will still be relatively small. Here’s what the numbers look like:

  • The percentage of all farms owing estate taxes would rise from 0.3% to 1.0%.
  • Large farms (those with $1 million to $5 million in gross income) would see the biggest jump, with taxable estates increasing from 2.8% to 7.3%.

See the chart below for a full breakdown.

Why Estate Taxes Matter for Farm Families

Even though only a small percentage of farms will be affected, for those that are, estate taxes can pose a significant challenge to passing the farm on to the next generation. Many farms are asset-rich but cash-poor, meaning they have substantial land and equipment value but limited liquid assets. This can create difficulties in paying estate taxes without selling off land or assets critical to farm operations. Continue reading How Many Farms Pay Estate Taxes? →

Form 1099 Information Returns – Report Deadline Nears

By: David L. Marrison, Field Specialist, Farm Management, Barry Ward, Director of the OSU Income Tax Schools, and Jeff Lewis, Attorney and Program Coordinator- OSU Extension.

It is tax season! The Internal Revenue Service (IRS) expects over 140 million individual tax returns to be filed by the April 15, 2025 deadline. With tax returns set to be accepted by the IRS starting January 27, it’s crucial for individuals and businesses to stay on top of important tax reporting deadlines.

One of the key requirements during this time is the proper reporting of income through 1099 forms. These forms, which report various types of non-wage income, need to be furnished to taxpayers by January 31. Additionally, copies also need to be sent to the IRS by the January 31st deadline (with a few exceptions) to avoid penalties and ensure timely processing of tax returns.

This article will provide an overview of 1099 forms, highlighting the specifics of the 1099-NEC, 1099-MISC, and 1099-K forms. Additionally, we will share reporting deadlines, penalties for non-reporting, and provide resource links from the IRS. Continue reading Form 1099 Information Returns – Report Deadline Nears →