Farm Bill Decisions and Risk Mitigation in 2023

Source: Chris Bruynis, Extension Educator, Ross County

If I could accurately predict the future, I would then know which Farm Bill decision to elect for my farm. Even without knowing future yield and prices, I can determine what risks I face, and which are mitigated by the different farm bill programs. Each farm might have its own inherent risk related to yield and price, making the farm bill program election different for each FSA farm number.

Price Loss Coverage (PLC) – PLC is considered a disaster loss program and covers price risk when the market year average price falls below the reference price. The reference price can adjust over time, but even with the higher prices in recent years, they will remain the same for 2023 at Corn $3.70; Soybeans $8.40; and Wheat $5.50.  The market year average price (MYA) for the 2023 crops is from harvest to the following year’s harvest (July through June for Wheat and September through August for Corn and Soybeans).  PLC is paid on 85% of program (base) acres not planted acres as well as the program (base) yields not actual yields. If your actual planted acres vary significantly from the base acres, this may not cover your actual risk. In a November 2022 article from Chad Hart, Extension Economist from Iowa State University, prices were projected to be $5.70 for corn and $13.00 for soybeans click here .  These projections are clearly above the PLC reference prices for corn and soybeans.

Agricultural Risk Coverage County (ARC-CO) – ARC County is a revenue risk management program compared to the price loss component of PLC. It is considered a shallow loss program that works well when there is a 1- or 2-year revenue decline. Is compares actual revenue to a calculated county revenue guarantee which is different in each county.  The ARC-CO benchmark revenue is the 5-year Olympic average MYA price multiplied by the 5-year Olympic average county yield. Benchmark yields and MYA’s are calculated using the 5 years preceding the year prior to the program year. The ARC-CO guarantee is determined by multiplying the ARC-CO benchmark revenue by 86%. Payments under this program are also tied to 85% of the base acres and not actual planted acres. Calculating the eighty-six percent of the revenue guarantee, using an Ohio average yield and the estimated MYA for 2023, results in a $645.65 guarantee for corn and $466.35 guarantee for soybeans.  With the previously mention projected prices, it is unlikely that ARC-CO will make a payment for the 2023 crop year unless there are significant production issues.

Agricultural Risk Coverage Individual (ARC-IC) – ARC Individual is similar to ARC County with a few adjustments. This program still compares a benchmark revenue calculated the same way as ARC County with the 86% reduction factor. The difference is this program uses 65% of the base acres to calculate payments. Additionally, the actual revenue is based on the actual planted crops, not the base acre crops, tying this closer to actual crop income. This is a good option under certain circumstances such as high year-to-year production variability or relatively large acreage of fruits and vegetables.

2023 Program Year Decision – If crop yields and market prices were predictable, then electing the farm bill program that protects the farm business best would be easy. The question one should be asking is which component of revenue am I more concerned with, price or yield. If one believes that prices will not fall below the reference prices, then one of the ARC programs would be a better election. This is especially true if one believes that yields in 2023 may be reduced by weather conditions such as a widespread drought. However, if one uses the Supplemental Crop Insurance (SCO) product in their crop insurance portfolio, then PLC would need to be elected. The reason is that SCO insurance and ARC Farm Bill programs cover similar risk and the USDA will not permit farms to participate in both at the same time on the same acres. Either Farm Bill election, PLC or ARC, is not expected to make a payment with the current price and trend yield projections for 2023. The real question is will price and yield expectations be realized in 2023?  If you want additional information on the Farm Bill programs, go to https://www.fsa.usda.gov/programs-and-services/arcplc_program/index.

 

 

 

 

 

 

 

USDA ERS America’s Farms and Ranches at a Glance – 2021 Financial Performance

by: Chris Zoller, Extension Educator, ANR in Tuscarawas County

The United States Department of Agriculture Economic Research Service (USDA ERS) released this report (https://www.ers.usda.gov/webdocs/publications/105388/eib-247.pdf?v=4061.7) in December 2022.  The United States Department of Agriculture Economic Research Service America’s Farms and Ranches at a Glance summarizes a number of metrics about U.S. agriculture.  This paper highlights two indicators (Operating Profit Margin and Current Ratio) of the financial performance of U.S. farms and ranches.

Two Definitions

Since the 1970’s, USDA ERS has defined a farm as any place where, each year, $1,000 of agricultural goods were produced and sold.  USDA ERS uses acres of crops and heads of livestock to determine whether the definition is met.  Farm size is measured by Gross Cash Farm Income (GCFI), a measure of revenue, including acres of crops or numbers of head of livestock produced and sold.

Types of Farms

USDA ERS classifies farms into several types.  The following definitions are taken from the report:

Small family farms (GCFI less than $350,000)

  • Retirement farms: Small farms whose principal operators report having retired from farming, though continuing to farm on a small scale.
  • Off-farm-occupation farms: Small farms whose principal operators report a primary occupation other than farming.
  • Farming-occupation farms: Small farms whose principal operators report farming as their primary occupation. Farming-occupation farms are further sorted into two classes:
  • Low-sales: Farms with a GCFI of less than $150,000.
  • Moderate-sales: Farms with a GCFI between $150,000 and $349,999.

Midsize family farms (GCFI between $350,000 and $999,999)

  • Farms with a GCFI between $350,000 and $999,999.

Large-scale family farms (GCFI of $1,000,000 or more)

  • Large farms: Farms with a GCFI between $1,000,000 and $4,999,999.
  • Very large farms: Farms with a GCFI of $5,000,000 or more.

Nonfamily farms

  • Any farm where any operator and any individuals related to them do not own a majority (50 percent) of the business.

The table below summarizes farms by type, number, acres, and value of farm production.

Financial Performance

The Operating Profit Margin (OPM) is one measure of farm financial performance.  The OPM is the share of gross income that is profit.  In 2021, between 50 and 81 percent of small family farms had an OPM in the danger zone (less than 10 percent).

Large family farms, in 2021, were more likely to have a positive OPM (of at least 25 percent).  Positive on-farm income was also more likely for this classification.

Farms in the medium-risk category had an OPM greater than 10 percent and less than 25 percent.  Between 5 percent and 32 percent of these farms were in this category in 2021.

 

The current ratio is another measure of financial performance.  This ratio is calculated by taking current assets divided by current liabilities and is a simple method to determine whether a farm has enough capital to pay current liabilities.  A ratio less than one indicates a farm is unable to pay its current liabilities if all current assets were liquidated.

In 2021, 57 percent of farms had a current ratio greater than one.

In 2021, 52 percent and 47 percent of retirement and off-farm occupation farms, respectively, had the highest percentage of farms with a current ratio of less than 1.  However, many of these farms rely on off-farm income to compensate for the lower current ratio.

Between 23 percent and 25 percent of moderate, mid-size, and large family farms were in danger of being unable to meet current obligations in 2021.

Assistance

If you are interested in learning more about your financial performance, talk to your lender or your local OSU Extension professional about the OSU Extension Farm Business Analysis and Benchmarking Program.  Additional information is available here: https://farmprofitability.osu.edu/.

Reference

America’s Farm and Ranches at a Glance, 2022, United States Department of Agriculture Economic Research Service, available at: https://www.ers.usda.gov/webdocs/publications/105388/eib-247.pdf?v=4061.7

Farm Office Live Webinar Slated for December 16

The Farm Office Team of OSU Extension will be holding their December Farm Office Live Webinar on Friday, December 16 from 10:00 to 11:30 a.m. via Zoom. Farm Office Live is a monthly webinar of updates and outlooks of legal, economic, and farm management issues that affect Ohio agriculture.

In this webinar, the teaching team of Peggy Hall and Robert Moore (Attorneys from the OSU Agricultural and Resource Law Program) and Eric Richer and David Marrison (Field Specialists, Farm Management) will share the following topics:

  • Federal and State Legislative and Legal Updates
  • Time to Review Estate Plans
  • Year End Balance Sheet Strategies
  •  Federal Farm Program Updates
  • Food Safety Certification for Specialty Crops Program
  • Emergency Relief Programs
  • House Bill 95 Beginner Tax Credit Update
  • Upcoming Programs

The webinar is free.  Registration and more details can be made at go.osu.edu/farmofficelive

Join OSU Extension for Annie’s Project series this fall in Chillicothe, OH in Ross County.

Annie’s Project is an educational program dedicated to strengthening women’s roles in modern farm enterprises.

This 6-week workshop focuses on five key areas of risk management: human, financial, marketing, production, and legal. Women learn about argi-business practices from experts in their fields. They also form valuable networks with others in the class.

Registration http://go.osu.edu/rossannies2022
Cost is $75.00 per person
Registration deadline is October 24, 2022

Brochure

Session 1: October 27, Rm D

  • Welcome and Introductions
    •Real Colors Personality Test
    •Intro to Risk Management

Session 2: October 31, Rm C

  • Identifying & Managing Legal Liability on the Farm

Session 3: November 3, Rm D

  • Direct Marketing
    •Social Media Presence
    •Overview of Rules & Regs
    •Commodity Marketing
    •Knowing Your Production Costs
    •Different Marketing Tools

Session 4 November 7, Rm D

  • Record Keeping
    •Financial Statements
    •Budgeting & Benchmarking

Session 5: November 10, Rm D

  • Communication and Stress
    •Grandma’s Yellow Pie Plate
    •Estate Planning Strategies

Session 6: November 17, Rm D

  • Farm Services Agency
    •Natural Resources Conservation Service
    •Soil and Water Conservation District
    •Crop Insurance

Event Sponsors

Kingston National Bank
Farm Credit Services of Mid America
Atomic Credit Union
LCNB National Bank

 

 

Social Security Announces 8.7 Percent Benefit Increase for 2023

Source: Social Security Administration.

News Release: October 13, 2022

Social Security and Supplemental Security Income (SSI) benefits for approximately 70 million Americans will increase 8.7 percent in 2023, the Social Security Administration announced today. On average, Social Security benefits will increase by more than $140 per month starting in January.

The 8.7 percent cost-of-living adjustment (COLA) will begin with benefits payable to more than 65 million Social Security beneficiaries in January 2023. Increased payments to more than 7 million SSI beneficiaries will begin on December 30, 2022. (Note: some people receive both Social Security and SSI benefits). The Social Security Act ties the annual COLA to the increase in the Consumer Price Index as determined by the Department of Labor’s Bureau of Labor Statistics.

“Medicare premiums are going down and Social Security benefits are going up in 2023, which will give seniors more peace of mind and breathing room. This year’s substantial Social Security cost-of-living adjustment is the first time in over a decade that Medicare premiums are not rising and shows that we can provide more support to older Americans who count on the benefits they have earned,” Acting Commissioner Kilolo Kijakazi said.

To view a COLA message from Acting Commissioner Kijakazi, please visit www.youtube.com/watch?v=Vgm5q4YT1AM.

Some other adjustments that take effect in January of each year are based on the increase in average wages. Based on that increase, the maximum amount of earnings subject to the Social Security tax (taxable maximum) will increase to $160,200 from $147,000.

Social Security and SSI beneficiaries are normally notified by mail starting in early December about their new benefit amount. The fastest way to find out their new benefit amount is to access their personal my Social Security account to view the COLA notice online. It’s secure, easy, and people find out before the mail arrives. People can also opt to receive a text or email alert when there is a new message from Social Security–such as their COLA notice–waiting for them, rather than receiving a letter in the mail. People may create or access their my Social Security account online at www.ssa.gov/myaccount.

Information about Medicare changes for 2023 is available at www.medicare.gov. For Social Security beneficiaries enrolled in Medicare, their new higher 2023 benefit amount will be available in December through the mailed COLA notice and my Social Security’s Message Center.

Cost-of-Living Adjustment (COLA) Information for 2023

Social Security and Supplemental Security Income (SSI) benefits for approximately 70 million Americans will increase 8.7 percent in 2023.

The 8.7 percent cost-of-living adjustment (COLA) will begin with benefits payable to more than 65 million Social Security beneficiaries in January 2023. Increased payments to more than 7 million SSI beneficiaries will begin on December 30, 2022. (Note: some people receive both Social Security and SSI benefits)

Read more about the Social Security Cost-of-Living adjustment for 2023.

The maximum amount of earnings subject to the Social Security tax (taxable maximum) will increase to $160,200.

The earnings limit for workers who are younger than “full” retirement age (see Full Retirement Age Chart) will increase to $21,240. (We deduct $1 from benefits for each $2 earned over $21,240.)

The earnings limit for people reaching their “full” retirement age in 2023 will increase to $56,520. (We deduct $1 from benefits for each $3 earned over $56,520 until the month the worker turns “full” retirement age.)

There is no limit on earnings for workers who are “full” retirement age or older for the entire year.

Read more about the COLA, tax, benefit and earning amounts for 2023.

 

Ag Lender Seminars Offered in October

By Wm. Bruce Clevenger, Ken Ford, Grant Davis, Shelby Tedrow, and Frank Becker

Ohio State University Extension has scheduled four seminars in Ohio for Agricultural Lenders. The dates are Tuesday, October 18th in Ottawa, Ohio; Thursday, October 20 in Urbana, Ohio; Thursday, October 20 in Washington Court House, OH, and Friday, October 21st in Wooster, OH.

These seminars are excellent professional development opportunities for Lenders, Farm Service Agency personnel, county Extension Educators and others to learn about OSU Extension research, outreach programs and current agricultural topics of interest across the state.

2022 Topics and Speakers by Location

Ottawa, OH – October 18th, Putnam Co. Educational Service Center, 124 Putman Parkway, Ottawa, OH  45875

  • Farm Service Agency Loan Program Update – Kurt Leber, Northwest Ohio FSA, District Director – Farm Loan and Farm Program
  • Long Term Care Impacts on Farming Operations – Robert Moore, J.D., Ohio State University Extension, Attorney, OSU Agricultural & Resource Law Program
  • Beef and Small Ruminant Enterprise Opportunities – Garth Ruff, Ohio State University Extension, Field Specialist, Beef Cattle
  • Farm Business Analysis with FINPACK and OSUE Farm Office – Clint Schroeder, Ohio State University Extension, Program Coordinator, Farm Business Analysis
  • Examining Land Values, Rents, Crop Input Costs & Margins & New Tax Policy- Barry Ward, Ohio State University Extension, Leader – Production Business Management & Director – OSU Income Tax Schools
  • Ag Commodity Grain Markets: Trends and Prospects – Seungki Lee, PhD, Ohio State University, Dept of Agricultural, Environmental, & Development Economics

Urbana, OH – October 20th, Champaign Co. Community Center Auditorium, 1512 South US Highway 68, Urbana, OH  43078

  • Farm Service Agency Update – Shari Deao, Champaign County Director, FSA
  • Examining Land Values, Rents, Crop Input Costs & Margins in 2023 – Barry Ward, Ohio State University Extension, Leader – Production Business Management & Director – OSU Income Tax Schools
  • Mental Health and the Agriculture Community – Bridget Britton, Behavioral Health Field Specialist, Ag & Natural Resources, Ohio State University Extension
  • Update on Alternative Energy in Ohio – Eric Romich, Energy Development Field Specialist, Ohio State University Extension
  • Long Term Care Impacts on Farming Operations – Robert Moore, J.D., Ohio State University Extension, Attorney, OSU Agricultural & Resource Law Program

Washington Court House, OH – October 20th, Fayette County Agricultural Center, 1415 US Hwy 22 SW, Washington Court House, OH  43160

  • Farm Service Agency Update – Katie Maust, Fayette County Director, FSA
  • Update on Alternative Energy in Ohio – Eric Romich, Ohio State University Extension, Field Specialist Energy Development
  • Long Term Care Impacts on Farming Operations – Robert Moore, J.D., Ohio State University Extension, Attorney, OSU Agricultural & Resource Law Program
  • Examining Land Values, Rents, Crop Input Costs & Margins & New Tax Policy- Barry Ward, Ohio State University Extension, Leader – Production Business Management & Director – OSU Income Tax Schools
  • Mental Health and the Agriculture Community – Bridget Britton, Behavioral Health Field Specialist, Ag & Natural Resources, Ohio State University Extension

Wooster, OH – October 21st, – Buckeye Agricultural Museum, 877 West Old Lincoln Way, Wooster, OH  44691

  • Timber Management – John Kehn, State Service Forester, Ohio Dept of Natural Resources – Division of Forestry
  • Dairy Economics – Jason Hartschuh, Ohio State University Extension, Extension Educator Crawford County
  • Beef and Small Ruminant Enterprise Opportunities – Garth Ruff, Ohio State University Extension, Field Specialist, Beef Cattle
  • Examining Land Values, Rents, Crop Input Costs & Margins & New Tax Policy- Barry Ward, Ohio State University Extension, Leader – Production Business Management & Director – OSU Income Tax Schools
  • Farm Succession Planning – David Marrison, Ohio State University Extension, Extension Educator Coshocton County

The registration cost to attend one of the Ag Lender Seminars is $75.00 and the registration deadline is one week prior to the seminar you are attending. Payments can be made by check by mail or by credit card (by phone only to 419-782-4771). Registration forms are available online at: https://u.osu.edu/aglenderseminars/

Registration questions can be directed to OSU Extension Defiance County 419-782-4771 or email clevenger.10@osu.edu

OSU Extension conducts the seminars from input from Ag Lenders, County Extension Educators and Extension Specialists.  The seminars are designed to provide information that Ag Lenders will use directly with their customers, indirectly within the lending industry, and as professional development for current issues and trends in production agriculture.  OSU Extension has been offering Ag Lenders seminars for nearly 30 years.

OSU Extension Offering Beginner & Small Farm College in Coshocton and Greene Counties

The Extension offices in Coshocton and Greene counties will be hosting the 2022 Beginner & Small Farm College on October 24, 31 and November 7 from 6:30 to 9:00 p.m. This college is designed to help landowners examine potential ways to increase profits on their small acreage properties. The program is open to all new or aspiring farmers, new rural landowners, small farmers, and farm families.

During this college, participants will be challenged to develop realistic expectations for their new farm business. They will receive information on getting started, identifying the strengths and weaknesses of their property, and developing a farm business plan. Information on farm finances, insurance, liability, labor and marketing will be covered during the college. The topics included in this workshop include:

October 24th-Getting Started on Your New Farm Business

  • Developing real-life expectations for your farm.
  • Examining the available resources and opportunities for your property.
  • Developing a farm business plan, including setting your family and farm mission, goals and objectives.
  • An introduction to marketing and selling agricultural products.

October 31st–Money, Money, Money! Managing your Farm Finances

  • Developing a family and farm balance sheet.
  • Using enterprise budgets to project farm income.
  • Recordkeeping for farm businesses and farm taxes.
  • Managing family and farm income and expenses.

November 7th–There’s More to Farming than Just Growing Stuff!

  • Farm Management for New Farms
  • Setting up your farm business, including choosing a business entity and obtaining employer identification numbers.
  • Farm taxes.
  • Obtaining farm financing.
  • Insurance and liability for farms.
  • Licenses and permits needed for a small farm business.
  • Employer responsibilities related to farm labor and labor laws.

Farm Tour (Date & Location TBD)

Each site host will be planning a farm tour so participants can visit with a successful local farming operation to learn how they started and what they have learned during the development of their farm business.

Registration: The cost is $30 for the first person and $15 for each additional. Registration is limited to the first 50 registrants per location. Registration deadline is October 17th. There are two methods to register for this college.  Registration on-line can be made at: go.osu.edu/smallfarmcollegereg  Registration can also be made by mailing in a registration form to the site host for the location you plan to attend. Click here for registration flyer.

Mail Registrations for Coshocton County Site to:

OSU Extension –Coshocton County

c/o David Marrison

724 South 7thStreet, Room 110

Coshocton, OH 43812

Mail Registrations for Greene County Site to:

OSU Extension –Greene County

c/o Trevor Corboy

100 Fairground Road

Xenia, OH 45385

More Information:

For more information about the Coshocton County location, contact David Marrison at

marrison.2@osu.edu or (740)722-6073

For more information about the Greene County location, contact Trevor Corboy at corboy.3@osu.edu or (937)736-7203

Ohio State University (OSU) Extension’s Ohio Women in Agriculture Program announces opportunities to Learn, Grow, Connect, Inspire and Empower at the 2022 Farm Science Review!

Some of the best conversations and discussions have occurred around the family kitchen table. Grab a cup of your favorite beverage, lunch, or snack and join us from our kitchen table or yours to engage in conversations in-person or “virtually” on September 20, 21, and 22, 2022 for “Kitchen Table Conversations” hosted by the Ohio Women in Agriculture of Ohio State University Extension.

These sessions are offered during the Farm Science Review daily from 11:30 AM-12:30 PM. In-person sessions will be located on the north side of the Firebaugh Building at 384 Friday Avenue at our kitchen table. ZOOM session registration is required to participate. Register @ https://go.osu.edu/2022fsrkitchentableconversation

Programs will focus on key topics related to health, marketing, finance, legal, and production for women in agriculture.  Each topic will feature a leading expert and moderators to generate dialogue and empower discussion among participants.  A list of daily topics and leaders is provided below.

TUESDAY

When Death Happens- Managing the Farm Without Your Business Partner

Death can change everything, especially your ability to manage the farm without your business partner.  How can you better prepare to manage your farm business without your spouse or sibling?  Learn some strategies that can help you plan for the challenge of managing a farm alone.

SPEAKER: David Marrison, OSU Extension Educator, Coshocton County

WEDNESDAY

Female Farmer Financing Options: Opportunities with USDA Farm Service Agency (FSA) Loans

Come participate in this kitchen table conversation on how you can find unique farmland financing options for females, veterans, and minority farmers. Learn a little bit more about the requirements, normal rates, and roles.

SPEAKER: Eric Richer, OSU Extension Educator, Fulton County

THURSDAY

The Devil is in the Details: Communication and Record Keeping for Improving Farm Management

Family farms are only as good as their communication.  A record-keeping system is a valuable form of communication when the level of detail fits the needs of the farm decision-makers.  Useful record keeping can move a farm management team beyond the basic tax return to exploring problem-solving and strengthening the family farm business.

SPEAKER: Bruce Clevenger, OSU Extension Educator, Defiance County

Your host for the event will be Extension Professionals of the OSU Extension Ohio Women in Agriculture Team. Visit our display inside the Firebaugh Building for additional women in agriculture opportunities.

For more information: Gigi Neal, neal.331@osu.edu, 513-732-7070 or Heather Neikirk, neikirk.2@osu.edu, 234-348-6145

Blog site: u.osu.edu/ohwomeninag

 

USDA Announces Details for the 2022 Census of Agriculture 

Source: Jodi Halvorson, National Agricultural Statistics Service

America’s farmers and ranchers will soon have the opportunity to be represented in the nation’s only comprehensive and impartial agriculture data for every state, county and territory. The U.S. Department of Agriculture (USDA) will mail the 2022 Census of Agriculture to millions of agriculture producers across the 50 states and Puerto Rico this fall.

The 2022 Census of Agriculture will be mailed in phases, starting with an invitation to respond online in November followed by paper questionnaires in December. Farm operations of all sizes, urban and rural, which produced and sold, or normally would have sold, $1,000 or more of agricultural product in 2022 are included in the ag census.

“Census of Agriculture data are widely used by federal and local governments, agribusinesses, trade associations, extension educators, and many others to inform decisions about policy and farm programs and services that aid producers and rural communities,” said NASS Administrator Hubert Hamer. “By responding to the Census of Agriculture – by being represented in these important data – producers are literally helping to shape their futures.”

Collected in service to American agriculture since 1840 and now conducted every five years by USDA’s National Agricultural Statistics Service (NASS), the Census of Agriculture tells the story and shows the value of U.S. agriculture. It highlights land use and ownership, producer characteristics, production practices, income and expenditures, among other topics. Between ag census years, NASS considers revisions to the questionnaire to document changes and emerging trends in the industry. Changes to the 2022 questionnaire include new questions about the use of precision agriculture, hemp production, hair sheep, and updates to internet access questions.

To learn more about the Census of Agriculture, visit www.nass.usda.gov/agcensus or call 800-727-9540. On the website, producers and other data users can access frequently asked questions, past ag census data, partner tools to help spread the word about the upcoming ag census, special study information, and more. For highlights of these and the latest information on the upcoming Census of Agriculture, follow USDA NASS on twitter @usda_nass.

 

OSU Income Tax Schools 2022- Two-Day Tax Schools for Tax Practitioners & Agricultural & Natural Resources Income Tax Issues Webinar

By: Barry Ward & Jeff Lewis, OSU Income Tax Schools

Tax provisions related to new legislation as well as continued discussion related to COVID-related legislation for both individuals and businesses are among the topics to be discussed during the upcoming OSU Income Tax Schools offered throughout Ohio in October, November, and December.

The annual series is designed to help tax preparers learn about federal tax law changes and updates for this year as well as learn more about issues they may encounter when filing individual and small business 2022 tax returns.

OSU Income Tax Schools are intermediate-level courses that focus on interpreting tax regulations and changes in tax law to help tax preparers, accountants, financial planners, and attorneys advise their clients. The schools offer continuing education credit for certified public accountants, enrolled agents, attorneys, annual filing season preparers and certified financial planners.

Attendees also receive a class workbook that alone is an extremely valuable reference as it offers over 600 pages of material including helpful tables and examples that will be valuable to practitioners. Summaries of the chapters in this year’s workbook can be viewed at this site:

https://farmoffice.osu.edu/tax/2022-tax-school-chapters

A sample chapter from a past workbook can be found at:

https://taxworkbook.com/about-the-tax-workbook/

This year, OSU Income Tax Schools will offer both in-person schools and an online virtual school presented over the course of four afternoons.

In-person schools:

October 27-28, Ole Zim’s Wagon Shed, Gibsonburg/Fremont

October 31-November 1, Presidential Banquet Center, Kettering/Dayton

November 3-4, Old Barn Restaurant & Grill, Lima

November 8-9, Muskingum County Conference and Welcome Center, Zanesville

November 21-22, Ashland University, John C. Meyers Convocation Center, Ashland

November 29-30, Nationwide & Ohio Farm Bureau 4-H Center, Columbus

December 5-6, Hartville Kitchen, Hartville

Virtual On-Line School presented via Zoom:

November 7, 10, 14 & 18, 12:30 – 4:45 p.m.

Register two weeks prior to the school date for the two-day tax school early-bird registration fee of $400.  This includes all materials, lunches, and refreshments. The deadline to enroll is 10 business days prior to the date of each school. After the early-bird deadline, the fee increases to $450.

Additionally, the 2022 Checkpoint Federal Tax Handbook is available to purchase by participants for a discounted fee of $60 each. Registration information and the online registration portal can be found online at:

http://go.osu.edu/2022tax

In addition to the tax schools, the program offers a separate, two-hour ethics webinar that will broadcast Thursday, Dec. 8 at 1 p.m. The webinar is $25 for school attendees and $50 for non-attendees and is approved by the IRS and the Ohio Accountancy Board for continuing education credit.

A webinar on Ag Tax Issues will be held Tuesday, Dec. 13 from 8:45 a.m. to 3:20 p.m.

If you are a tax practitioner that represents farmers or rural landowners or are a farmer or farmland owner that prepares your own taxes, this five-hour webinar is for you. It will focus on key topics and new legislation related specifically to those income tax returns.

Registration, which includes the Ag Tax Issues workbook, is $160 if registered at least two weeks prior to the webinar. After November 29, registration is $210. Register by mail or on-line at https://go.osu.edu/agissues2022.

Participants may contact Ward at 614-688-3959, ward.8@osu.edu or Jeff Lewis at 614-247-1720, lewis.1459@osu.edu for more information.