COLUMBUS, Ohio -- Looking for information on how the Tax Cuts and Jobs Act will affect your farm or rural property? Ohio State University Extension is hosting an upcoming webinar focused the new regulations affecting income tax returns.
Tax practitioners, farmers and farmland owners are encouraged to connect to the Ag and Natural Resources Income Tax Issues Webinar on Dec. 17 from 9 a.m. to 3 p.m. The event is sponsored by OSU Extension and participants can attend the webinar at host locations throughout Ohio or connect at home or office. Registration information is availabe by clicking here.
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 discussed during the webinar include:
- New Section 199A 20 percent Pass-Through Deduction
- Farm Loss Deduction Limits
- Depreciation of Farm Assets
- Farm and Ranch Tax Elections
- Section 199A and Agricultural and Horticultural Cooperatives
- Farm Lease Income and the QBI Deduction
- Entity Considerations
- Involuntary Conversions
- Taxation of Wetland Mitigation Credits
- Commodities Futures and Options Contracts
- Non-Cash Transactions
- Tax Implications of Payments from Energy Companies
- Case Study with Forms
The cost for the one-day school is $150, and applications have been made for continuing education credits with the Accountancy Board of Ohio--CPAs (6 hours), Office of Professional Responsibility--IRS (6 hours) and 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, will include lunch. Participants who choose to watch the webinar at home or office will receive a web address in advance of the Dec. 17 presentation.
Host locations include:
- Auglaize County, OSU Extension Office, 208 S. Blackhoof St., Wapakoneta
- Clermont County, OSU Extension Office, 1000 Locust St., Owensville
- Miami County, OSU Extension Office, 201 W. Main St., Old Courthouse, Troy
- Putnam County, OSU Extension Office, 1206 E. Second St., Ottawa
- Wayne County, Fisher Auditorium, 1680 Madison Ave., 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, firstname.lastname@example.org or Julie Strawser at 614-292-2433, email@example.com with questions.
CFAES provides research and related educational programs to clientele on a nondiscriminatory basis. For more information, visit cfaesdiversity.osu.edu. For an accessible format of this publication, visit cfaes.osu.edu/accessibility.
Writer and Source: Barry Ward, firstname.lastname@example.org, 614-688-3959