Farm Tax Update to be held in Coshocton County

OSU Extension in Coshocton County is pleased to be offering a Farm Tax Update on Monday, December 2 2019 from 7:00 to 8:37 p.m. at the Coshocton County Services Building – Room 145 located at 724 South 7th Street in Coshocton, Ohio.

OSU Extension Educator David Marrison will provide a Farm Tax Update. We will examine year farm tax strategies and learn more about the new Section 199A deduction for Qualified Business Income.  It is not business as usual in the world of farm taxes. Wrap up the year learning how to better manage your farm taxes.

This program is free & open to the public!  However, courtesy reservations are requested so program materials can be prepared. Call 740-622-2265 to RSVP or for more information.

Farm Bill Meetings to be held across Ohio

Click here for complete article with locations of meetings

Ohio State University Extension and the USDA Farm Service Agency in Ohio are partnering to provide a series of educational Farm Bill meetings this winter to help producers make informed decisions related to enrollment in commodity programs.

The 2018 Farm Bill reauthorized the Agriculture Risk Coverage (ARC) and Price Loss Coverage (PLC) safety net programs that were in the 2014 Farm Bill. While the ARC and PLC programs under the new farm bill remain very similar to the previous farm bill, there are some changes that producers should be aware of.

Farm Bill meetings will review changes to the ARC/PLC programs as well as important dates and deadlines. Additionally, attendees will learn about decision tools and calculators available to help, which program best fits the needs of their farms under current market conditions and outlook.

Enrollment for 2019 is currently open with the deadline set as March 15, 2020. Enrollment for the 2020 crop year closes June 30, 2020. Producers can enroll for both 2019 and 2020 during the same visit to an FSA county office. Producers have the opportunity to elect to either ARC or PLC for the 2019 to 2023 crop years, with the option to change their program election in 2021, 2022, and 2023.

To find out about upcoming meetings, and get information about the Farm Bill, visit go.osu.edu/farmbill2019

Agricultural & Natural Resources Income Tax Issues Webinar

by: Barry Ward, Director, OSU Income Tax Schools

Tax practitioners, farmers and farmland owners are encouraged to connect to the Agricultural and Natural Resources Income Tax Issues Webinar on Dec. 16 from 9 a.m. to 3 p.m. The event is sponsored by Ohio State University Extension and participants can attend the webinar at host locations throughout Ohio or connect at home or office.

The webinar focuses on issues specific to farm tax returns related to agriculture and natural resources, and will highlight timely topics and key regulations of the Tax Cuts and Jobs Act.

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 in the Ag Tax Issues Workbook that is provided to all participants include:

Tax planning for farmers

Proposed §199A Cooperative Regulations

199A and farm rentals

Form 4797 issues

Form 4562 depreciation and expensing issues

Disaster-related tax issues

Farming C corporations electing S corporation status

Getting out of the farming business

Allocating purchase price to depreciable items

Discounted sales and leases

Current H2A labor issues

Taxation of contract feeding arrangements

Industrial hemp considerations

Timber tax issues

Conservation easements

Case study and forms update

The cost for the one-day school is $150, and applications have been made 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 includes the Agricultural Tax Issues Workbook. The deadline to register is Dec. 6 to ensure participants will receive the workbook in the mail before the workshop. The live webinar, which will also feature a real-time Q-and-A, can be viewed at several host locations statewide and will include lunch. Participants also have the option to view the webinar from home if unable to attend a host location. For those who choose not to attend at a host location, a web address for the webinar will be sent in advance of the Dec. 16 presentation.

Host locations include:

Auglaize County, OSU Extension Office, 208 S. Blackhoof St., Wapakoneta

Clermont County, OSU Extension Office, 1000 Locust St., Owensville

Putnam County, OSU Extension Office, 1206 E. Second St., Ottawa

Wayne County, Wayne County Administration Building, 428 West Liberty St., Wooster

Wyandot County, Elks Lodge, 320 E. Wyandot Ave., Upper Sandusky

More information on the workshop, including how to register, can be found at go.osu.edu/agissuesreg

Contact Barry Ward at 614-688-3959, ward.8@osu.edu or Julie Strawser at 614-292-2433, strawser.35@osu.edu with questions.

 

 

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

by: Barry Ward & Julie Strawser, OSU Income Tax Schools

How to deal with the new tax law (Tax Cuts and Jobs Act) for both individuals and businesses are among the topics to be discussed during the upcoming Tax School workshop series offered throughout Ohio in late 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 2019 tax returns.

The tax schools are intermediate-level courses that focus on interpreting tax regulations and changes in tax laws 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.

This is another important year for tax education as the new tax law continues to create some challenges for tax practitioners to prepare tax returns. We have an excellent set of instructors with a great deal of experience and training along with a top reference workbook to prepare tax practitioners to best serve their clients during this ongoing process of incorporating recent tax law changes in completing tax returns.

The workbook alone is an extremely valuable reference as it offers over 700 pages of material including helpful tables and examples that will be valuable to practitioners. Sample chapters of the reference workbook can be found at: https://go.osu.edu/WorkbookChapters.

In addition to the tax schools, the program offers a separate, two-hour ethics webinar that will broadcast Dec. 11 at 1 p.m. and again on Dec. 13 at 10 a.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

Register two weeks prior to the school date and receive the two-day tax school early-bird registration fee of $375. This includes all materials, lunches and refreshments. The deadline to enroll is 10 business days prior to the date of each school. After the school deadline, the fee increases to $425.

Participants can also choose to attend just day one of the workshop for $250. Additionally, the 2019 RIA Federal Tax Handbook is available to purchase by participants for a discounted fee of $40 each. Registration information and the online registration portal can be found online at:
http://go.osu.edu/taxschools
The schools run from 8 a.m. to 4:30 p.m. on the following dates and locations:

• Oct. 30-31 — Ole Zim’s Wagonshed, 1387 State Route 590, Gibsonburg.
• Nov. 4-5 – Sheraton Suites, 1989 Front St., Cuyahoga Falls.
• Nov. 6-7 — Ashland University Convocation Center, 820 Claremont Ave., Ashland
• Nov. 12-13 — Presidential Banquet Center, 4548 Presidential Way, Kettering.
• Nov. 14-15 — Old Barn Out Back, 3175 W. Elm St., Lima.
• Nov. 19-20 — Der Dutchman Restaurant, 445 S. Jefferson Rt. 42, Plain City.
• Nov. 21-22 – Christopher Conference Center, 20 N. Plaza Dr., Chillicothe.
• Dec. 2-3 — Ohio University, Zanesville Branch Campus Center, 1425 Newark Road, Zanesville.
• Dec. 5-6 — The Ohio State University, Nationwide & Ohio Farm Bureau 4-H Center, 2201 Fred Taylor Dr, Columbus.

A daylong webinar on Ag Tax Issues will be broadcast Dec. 16 from 9 a.m. to 3 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 regulations of the Tax Cuts and Jobs Act related specifically to those income tax returns.

You can choose to attend a host location or participate at home or in the office. Host locations will provide a facilitator, refreshments and lunch. You are encouraged to bring your computer as there will be real-time Q&A. If you choose not to attend a host location, a web address will be e-mailed to you prior to the webinar.

Registration, which includes the Ag Tax Issues workbook, is $150. Register by mail or on-line at http://go.osu.edu/AgIssuesReg

More information on the workshops, including how to register, can be found at go.osu.edu/2019taxschools. Participants may contact Ward at 614-688-3959, ward.8@osu.edu or Julie Strawser 614-292-2433, strawser.35@osu.edu for more information.

“Timber Harvesting-Things to Consider” program held at Zaleski State Forest on Friday, September 13

Timber harvest is a tool you can utilize to not only provide much needed income, but also to help you achieve a wide range of goals from improving forest health to enhancing wildlife habitat. However, without proper planning and implementation, harvests can have long-term negative consequences for your woodland and for your family’s ability to earn a sustainable income from your property in the future.

Timber Harvesting-Things to Consider, a program designed to help you make informed decisions about harvesting timber, will take place at the Zaleski – ODNR Complex on September 13. If you are thinking about selling timber in the future, consider attending this workshop where you will have the opportunity to:

Learn how to make sure your timber harvest is compatible with your goal

Obtain information on how to market and sell your timber to ensure you receive a competitive price

Understand where to get help with planning and implementation of your timber harvest

Visit properly planned and implemented timber harvests at Zaleski State Forest

Learn about Call Before You Cut (1-877-424-8288 or http://callB4Ucut.com) and other available resources

The program starts at 9:00 AM and ends at 3:30 PM. A registration fee of $12 will cover the cost of lunch and program materials.

Please RSVP by calling OSU Extension Vinton County at 740-596-5212, or email Dave Apsley at apsley.1@osu.edu by September 9. The Zaleski ODNR Complex is located at 29371 Wheelabout Road, McArthur, Ohio 45651

“A Day in the Woods” and the “2nd Friday Series” programs run from May through November and are sponsored by the Education and Demonstration Subcommittee of the Vinton Furnace State Forest with support from Ohio State University Extension, Ohio Department of Natural Resources Divisions of Forestry and Wildlife, Central State University Extension, USDA Forest Service, Vinton County Soil and Water Conservation District, National Wild Turkey Federation, Pixelle Specialty Solutions, Ohio Tree Farm Committee, U.S. Fish and Wildlife Service, Hocking College, and Ohio’s SFI Implementation Committee.

“Ask the Expert” Area Seeks to Help Farmers Mitigate the Challenges of 2019 at this year’s Farm Science Review

Each year, faculty and staff of The Ohio State University address some of the top farm management challenges which Ohio farmers are facing during the “Ask the Expert” sessions held each day at the Farm Science Review at the Molly Caren Agricultural Center near London, Ohio.  The 20 minute “Ask the Expert” presentations at Farm Science Review are one segment of the College of Food, Agricultural, and Environmental Sciences (CFAES) comprehensive extension education efforts during the three days of the Farm Science Review which will be held September 17-19 in London, Ohio.

The 2019 growing season has particularly challenging for Ohio growers and producers due to the historic rainfall in Ohio. Twenty-seven of this year’s “Ask the Expert” sessions will feature discussions aimed at helping farmers mitigate the challenges faced by agricultural producers in 2019 and beyond.   Our experts will share science-based recommendations and solutions to the issues growers are facing regarding weather impacts, tariffs, and low commodity prices.   Producers are encouraged to attend one or more of the sessions throughout the day.

The sessions will take place in the Ohio State Area in the center of the main Farm Science Review exhibit area located at 426 Friday Avenue. The farm management sessions will be featured include:

Tuesday, September 17, 2019

“Tax Strategies Under the New Tax Law” presented by Barry Ward 10:00 – 10:20 a.m.

“Climate Smart- Weather, Climate & Extremes-Oh My!” presented by Aaron Wilson 10:20 – 10:40 a.m.

 “Before the Pearly Gates- Getting Your Farm Affairs in Order” presented by David Marrison 10:40 – 11:00 a.m.

“Crop Inputs & Cash Rent Outlook for 2020” presented by Barry Ward 11:00 – 11:20 a.m.

“Farm Stress-We Got Your Back” presented by Dee Jepsen 11:20 – 11:40 a.m.

“Farm Income Forecasts: Are Farmers Experiencing Financial Stress?” presented by Ani Katchova  12:20 – 12:40 p.m.

“How Much Money Stayed on the Farm? 2018 Ohio Corn & Soybean Production Costs” presented by Dianne Shoemaker  12:40 – 1:00 p.m.

“Where Are We on U.S. Trade Policy” presented by Ian Sheldon 1:00 – 1:20 p.m.

“Farm Accounting: Quicken or Quickbooks” presented by Wm. Bruce Clevenger  1:20 – 1:40 p.m.

“Commodity Markets – Finding Silence in the Noise” by Ben Brown 1:40 – 2:00 p.m.

Wednesday, September 18, 2019

“Climate Smart- Weather, Climate & Extremes-Oh My!” presented by Aaron Wilson 10:00 – 10:20 a.m.

“Solar Leasing Options” presented by Peggy Hall & Eric Romich 11:00 – 11:20 a.m.

 “Where Are We on U.S. Trade Policy” presented by Ben Brown 11:20 – 11:40 a.m.

“Crop Inputs & Cash Rent Outlook for 2020” presented by Barry Ward 12:00 – 12:20 p.m.

“Commodity Markets – Finding Silence in the Noise” by Ben Brown 12:20 – 12:40 p.m.

 Public Perception Risk: Building Trust in Modern Agriculture by Eric Richer 12:40 – 1:00 p.m.

“Farm Stress-We Got Your Back” presented by Dee Jepsen 1:00 – 1:20 p.m.

“How Much Money Stayed on the Farm? 2018 Ohio Corn & Soybean Production Costs” presented by Dianne Shoemaker 1:20 – 1:40 p.m.

 “Tax Strategies Under the New Tax Law” presented by Barry Ward 2:00 – 2:20 p.m.

 “Using On-Farm Research to Make Agronomic and Return on Investment Decisions” presented by Sam Custer 2:40 – 3:00 p.m.

Thursday, September 19, 2019

“Farm Stress-We Got Your Back” presented by Dee Jepsen 10:20 – 10:40 a.m.

“Tax Strategies Under the New Tax Law” presented by Barry Ward 10:40 – 11:00 a.m.

 “Solar Leasing Options” presented by Peggy Hall & Eric Romich   11:20 – 11:40 a.m.

 “Commodity Markets – Finding Silence in the Noise” by Ben Brown 11:40 – Noon

 “Crop Inputs & Cash Rent Outlook for 2020” presented by Barry Ward 12:00 – 12:20 p.m.

 “Where Are We on U.S. Trade Policy” presented by Ben Brown 12:40 – 1:00 p.m.

 “How Much Money Stayed on the Farm? 2018 Ohio Corn & Soybean Production Costs” presented by Dianne Shoemaker 1:40 – 2:00 p.m.

The complete schedule for the Ask the Expert sessions and other events at the 2019 Farm Science Review can be found at: https://fsr.osu.edu/

Additional farm management information from OSU Extension can be found at ohioagmanager.osu.edu or farmoffice.osu.edu

Source:

David Marrison, OSU Extension

740-622-2265

Marrison.2@osu.edu

#leanonyourlandgrant

Transition the Farm Business to the Next Generation

by Rory Lewandowski, OSU Extension Educator

Passing the farm business on to the next generation is not automatic. Failure to plan is a plan for failure. Successful farm transition requires preparation and planning. It takes time, effort, communication between family members and legal assistance. The Wayne County Extension office is offering a two-part farm transition workshop on Friday July 19 and Friday July 26 to help farm families with the farm transition process.

The location for the July farm transition workshop is the Secrest Arboretum Welcome Center located at 2122 Williams road, Wooster, near the OARDC campus.  The workshop will run from 10:00 am until 3:00 pm each day.  By attending the workshop, farm families will learn steps necessary for a successful farm transition, get a start on developing a transition plan for the future, discover ways to increase family communication regarding farm transition, and learn strategies on how to transfer management skills and the farm’s business assets to the next generation.

Thanks to support from our sponsors, Farmers State Bank, Wayne Savings Community Bank, Farmers National Bank and Farm Credit Mid-America, the registration fee for the workshop is only $25 for the first two persons from a farm business and $10 for each additional person from the same farm business when sharing a resource notebook.  Registration is limited to the first 50 persons with a registration deadline of July 12th.  Registration includes refreshments, lunch and a resource notebook.

An informational brochure that includes workshop instructors and agenda topics along with a registration form is available on the Wayne County Extension web site at http://go.osu.edu/2019WoosterFarmTransition.   Direct questions or requests for more information to the Wayne County Extension office at 330-264-8722.

REMINDER- Registration will close soon…Come Join Us for the…Small Farm Conference & Trade Show

The two day conference will be held on Friday, March 29th and Saturday, March 30th at the OSU South Centers in Piketon, Ohio.

The conference is designed for small farm owners wanting to learn more about how to make their farms work better for them. Many topics will be offered to help landowners expand their operations. Land owners can attend workshops and seminars taught by Extension professionals and industry leaders on a wide variety of agricultural enterprises.  Attendees will also get to meet various vendors at the trade show.  The trade show will be open part of the day on Friday, and all day Saturday.

Attached is the brochure that includes a mail-in registration, the agenda with session descriptions, and the registration letter for vendors.

Please see the flyer below for additional information.

For full details, please go to go.osu.edu/OSUFARMConference2019.

Landowners Leaving a Legacy

by: Amanda Douridas

Land is an important investment. One that is often passed down through generations. Farmland needs to be monitored and cared for to maintain the value and sustainability if it is to be enjoyed and profitable for future generations. Following the success of Lady Landowners Leaving a Legacy offered this past summer, Landowners Leaving a Legacy is open to everyone. If you want to learn more about your land, farming and conservation practices and how to successfully pass it on to the next generation, this program is for you!

Farming has changed dramatically over the last several decades. The thought of trying to understand it all can be overwhelming, especially if not actively farming. This series is designed to help landowners understand critical conservation and farm management issues related to owning land. It will provide participants with the knowledge, skills and confidence to talk with tenants about farming and conservation practices used on their land. The farm management portion will provide an understanding of passing land on to the next generation and help establish fair rental rates by looking at current farm budgets. We will also visit a local farm to view practices currently implemented and hear from the landowners involved.

The series runs every other Monday, February 25 – May 13 from 6:00-8:30 pm in the Champaign County Community Center Auditorium in Urbana, Ohio. It is $70 for the series. If you are only able to attend a couple of session, it is $15 per session but there is a lot of value in getting to know other participants in the series and talking with them each week. Materials and dinner included. The registration flyer can be found at http://go.osu.edu/agevents. For questions or more information, please contact Amanda Douridas at 937-484-1526 or Douridas.9@osu.edu. Please register by February 19. The detailed agenda is below.

Feb 25- Building Soil Structure

    • Introductions
    • Soil Structure Discussion and Demo
    • Tillage Methods and Compaction
  • Soil Coverage Discussion and Demo

March 11- Implementing Conservation

  • Conservation Activity
  • Aquifer Demonstration
  • Watershed Maps of Participants Farms
  • Explanation of Conservation Practices

March 25- Value of the Land Beyond the Dollar

  • Land Value Diagram
  • Landowner/Tenant Relationship Panel
  • Wildlife Habitat Programs

April 15- Transition and Succession Planning

  • Peggy Hall and Wright Moore Law Firm

April 29- Leasing and Budgets

  • Good Leasing Contracts
  • Hunting Leases
  • Overview of Commodity Budgets

May 13- Farm Visit

Some activities developed by Women, Food and Agriculture Network for its Women Caring for the Land program.

“Improving Your Grain Marketing Plan” Workshops to be Held

Chris Bruynis, Ag & NR Extension Educator

 

Do you want to do a better job of pricing your corn and soybeans? Is grain marketing a confusing and daunting task? If so, this workshop is for you!

Ohio State University Extension is offering a three-session workshop focused on helping farmers become better grain marketers. Participants will have a better understanding of risk, marketing tools, and the development of written marketing plans. These workshops are funded through a North Central Risk Management Education Grant and being offered in six locations throughout Ohio. Additional information can be found at http://go.osu.edu/grainplan.

Participants will learn to identify their personal risk tolerance and their farm’s financial risk capacity. Both of these are important in developing a successful grain marketing plan. Participants will also learn how crop insurance products effect marketing decisions and effect risk capacity. Grain marketing consists of understanding and managing many pieces of information. Information on the different grain marketing contracts will be presented. These include basis, hedging, cash, futures, and option contracts. Additionally, participants will be provided an example of a grain marketing plan and the fundamental principles that should be included.

The courses will be offered on three consecutive Tuesdays, two locations each time. Programs in Paulding and Henry Counties will start January 8, 2019. The Fayette and Champaign County programs will commence on January 22, 2019. The final programs will be in Miami and Darke Counties starting on January 29, 2019. For specific times and locations, as well as program registration instruction, go to http://go.osu.edu/grainplan and select the county you plan to attend. Cost for the program is $45.00 for the first registration and $60.00 for two registrations from the same farm business. Included in registration are the workshop notebook and meals/refreshments (depending on location).

To request additional information or have questions answered, contact Amanda Bennett at 937-440-3945 or at bennett.709@osu.edu