Farmer and Farmland Owner Income Tax Webinar

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 15th, 2023 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 as well as the latest news on CAUV and property taxes in Ohio and the big changes to the Ohio Commercial Activity Tax (CAT). This two-hour program will be presented in a live webinar format via Zoom by OSU Extension Educators Barry Ward, David Marrison and Jeff Lewis along with Purdue faculty member Dr. Michael Langemeier. 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

  • Depreciation Update

  • Employee vs. Independent Contractor

  • Corporate Transparency Act/Beneficial Owners Information Reporting

  • 1099-K Changes

  • Charitable Remainder Trusts

  • 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 Estate/Gift Tax Limitation

  • Reminder – Keeping an Eye on Tax Cuts and Jobs Act Provisions Sunsetting After 2025 Tax Year

  • Ohio Tax Update (CAUV/Property Tax Update, CAT Changes, Beginning Farmer Tax Credit, Ohio Tax Law Interpretation – Ohio Supreme Court Issues New Ruling)

  • Indiana Tax Update

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

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

Updates from around OSU Extension

Harvest Delays – Light vs. Temperature | Agronomic Crops Network 

Harvest Complete? It’s Time To Assess SCN Levels In Your Fields! | Agronomic Crops Network 

2023 Ohio Soybean Performance Trials: Results For All Trial Locations | Agronomic Crops Network 

Presynchronization and Improving Fertility of Beef Cows | Ohio BEEF Cattle Letter 

Why is This Time Different? | Ohio BEEF Cattle Letter 

The Cost of Money | Ohio BEEF Cattle Letter 

Time to Plan a Winter Feeding Program | Ohio BEEF Cattle Letter 

Living on a Few Acres: Sheep and Goat Production | OSU Sheep Team 

Lambing and Kidding Assistance | OSU Sheep Team 

An Environmental Law Harvest | Farm Office 

New law limits who can own agricultural land in Ohio | Farm Office 

New Publication Discusses Wills and Trusts | Farm Office 

Announcing our “Planning for the Future of Your Farm” Fall and Winter Workshops | Farm Office 

Weather Update: Fall Weather Settles In But No Freeze Yet

The weather pattern over the last couple of weeks has certainly brought cooler temperatures to the region. However, temperatures are still above average across the state through the first 16 days of October. In fact, most locations across the northern half of Ohio typically experience their first 32°F (freeze) in the first two weeks of the month. As Figure 1 shows, this is not the case in 2023, with only a couple of stations having reported freeze conditions so far.

Read More

Corn Dry Down

Cooler than normal temperatures and wetter than normal precipitation can impact corn drydown (figure 2). Once corn reaches physiological maturity (when kernels have obtained maximum dry weight and black layer is formed), it will dry approximately 0.75 to 1% per day during favorable drying weather (sunny and breezy) during the earlier part of the harvest season (from mid‑September to late September). By early to mid‑October, dry-down rates usually drop to 0.5 to 0.75% per day. Between late October to early November, field dry‑down rates drop to 0.25 to 0.5% per day. Finally, by mid November, drydown rate is stimated at about 0 to 0.25% per day. The later it gets, drying rates go lower and at times drying can be negligible.

An excerpt from: Ohio Crop Progress: Precipitation, Cool Weather, and Corn Dry Down

 

Ohio State University to Provide Resolution Services for Ohio Farms

Ohio has over 76,000 farms and 13 million acres of farmland.  In such a large and diverse industry, conflicts commonly arise that can lead to disputes, litigation, and appeals.  Ultimately, these conflicts can cause harmful effects that threaten the viability of Ohio agriculture.  To address these issues, a new program has been developed – Ohio Farm Resolution Services at The Ohio State University (OFRS).  The goal of OFRS is to cultivate solutions to the conflicts that impact Ohio’s farms and farm families.

OFRS will provide a three-pronged approach to assist farms and farm families in resolving problems and conflicts:

  1. Education resources.  The first approach will be to provide educational resources that may lead to a resolution.  Educational resources may be in the form of bulletins, publications, articles or individual discussions.  For example, OFRS may provide a law bulletin on farm leasing to a tenant and landowner involved in a lease dispute.  Some disputes can be resolved through education alone.
  2. Consultation and informal resolution services.  OSU Extension attorneys and farm management specialists will be available to meet with parties to assist with resolving their issues.  These services will be more informal and may include sitting at the kitchen table with a family struggling with transition planning or perhaps meeting in a pasture to discuss shared fence line concerns between neighboring farmers.
  3. Formal mediation.  Sometimes conflicts escalate to hard feelings and entrenched positions.  When this happens, formal mediation may be appropriate.  This process will involve the intervention of a trained mediator to assist the parties in negotiating jointly acceptable resolution of issues in conflict. The mediator meets with the parties at a neutral location, often shuttling between separate rooms, where the parties can discuss the dispute and explore a variety of solutions.  Formal mediation is often the last step before litigation.

Most consultation and mediation services will be conducted by OFRS’ primary consultants/mediators: Peggy Hall, David Marrison, Jeff Lewis and Robert Moore.  OFRS will also develop a pool of outside mediators who can assist with matters that require special or unique technical knowledge.  OFRS is committed to providing individuals who have both the knowledge and skill to help understand and resolve issues.

OFRS will be able to assist on a wide variety of matters.  The following are issues for which OFRS can provide assistance:

  • Family communication
  • Farm transition planning
  • Business entities
  • Business practices
  • Land use
  • Property issues/neighbor issues
  • Zoning
  • Farm leases
  • Energy leases
  • Farm labor issues
  • Farmland drainage
  • Crops/agronomy/soils disputes
  • USDA administrative appeals
  • ODA administrative appeals
  • Farm lender/creditor negotiations

OFRS is available to provide educational and consultation services now.  Mediation services will be available beginning in January 2024.  For more information or to refer someone to OFRS, contact Robert Moore at moore.301@osu.edu or 614-247-8260.  Information is also available at farmoffice.osu.edu/ofrs.

 

This article originally appeared at farmoffice.osu.edu on October 13, 2023: Ohio State University to Provide Resolution Services for Ohio Farms | Farm Office (osu.edu)

Alexus Masterson Starts as Family and Consumer Sciences Educator in Muskingum County

The Muskingum County office of Ohio State University Extension is pleased to announce that Alexus Masterson has been hired as the Family and Consumer Science Educator. She will provide leadership to the Muskingum County Family and Consumer Science program, which consists of clientele at many stages of life, from birth to death.

Alexus is a native of Morgan County and has served as the Family and Consumer Science Program Assistant in the Washington County Extension office for the past 9 months. During that time, she coordinated Food Preservation classes, Healthy Living programs, and Real Money. Real World., while helping to deliver many other aspects of the county FCS program. She is a 4-H Alumni of 7 years from Morgan County as well.

Alexus obtained a Bachelor of Science degree in Community and Public Health from Ohio University and a Master of Public Health from Ohio University.

Contact Alexus at 740-454-0144 or masterson.98@osu.edu

Extension News Headlines

Making the Most of Your Fall Grazing | Ohio BEEF Cattle Letter 

Grazing Corn Residue, a Feed Alternative! | Ohio BEEF Cattle Letter 

Dry Weather? Don’t graze down to the nubbins! | Ohio BEEF Cattle Letter 

Livestock Forage Disaster Program (LFP) | Ohio BEEF Cattle Letter 

Demand for CHOICE Beef Strengthens | Ohio BEEF Cattle Letter 

Is AI Ready to Draft Your Farm Lease? | Farm Office 

Ohio Contemplating Temporary CAUV Changes | Farm Office 

OSU Extension Weather Extremes Committee and the State Climate Office of Ohio to Host Climate Smart: Farming with Weather Extremes Conference | Agronomic Crops Network 

Recent News and Headlines

Late-season Pigweed Scouting | Agronomic Crops Network
 

Corn Yield Forecasts as of August 23, 2023 | Agronomic Crops Network
 

Meet Your Soil Fertility Extension State Specialist- Dr. Manbir Rakkar | Agronomic Crops Network
 

Lep Monitoring Network Update #17 – Fall Armyworm Monitoring Starting Across Ohio | Agronomic Crops Network
 

Join OABA and OSU Extension for the 4R Technology Review Field Day on September 6 | Agronomic Crops Network
 

Stockmanship and Stewardship Tour for the Beef Industry Hosted in Caldwell, Ohio | Ohio BEEF Cattle Letter
 

August Hay Production Estimates are Encouraging, but Variation Still Exists | Ohio BEEF Cattle Letter
 

Mineral Supplementation on Pasture | Ohio BEEF Cattle Letter
 

Ask The Experts take the stage at FSR | Ohio Ag Manager
 

Shearing Preparations | OSU Sheep Team