Learning Farm Income Taxes

COLUMBUS, Ohio -- Tax practitioners with an interest in farm income taxes will have an opportunity to attend a one-day farm tax workshop scheduled for December 18 at one of eight locations across Ohio.

The workshop will be taught by Phil Harris, professor of agricultural economics at the University of Wisconsin via conference call.

The program has been designed for tax practitioners who have a significant number of farm clients and need a substantial amount of information on agricultural tax issues. Participants will hear an audiotape of a live lecture given by Harris, supplemented with a showing of the slide presentation Harris used during his lecture. Harris will be available for questions during two conference calls throughout the day, and Ohio State University faculty will be in the meeting rooms to answer questions. Registrants will receive a 300-page supplemental book.

Some of the topics to be discussed include: 5-year depreciation recovery period for equipment; futures and options; qualified deferred payment contracts; transitioning farm businesses to rental; social security strategies; soil and water districts; and wind farms.

The locations for the 2009 Agricultural Issues Workshops are:

OSU Extension Southeast Region Office, Caldwell, Ohio.

OSU Extension Darke County Office, Greenville, Ohio.

OSU Extension Putnam County Office, Ottawa, Ohio.

OSU Extension Wyandot County Office, Upper Sandusky, Ohio.

OSU Extension Champaign County Office, Urbana, Ohio.

OSU Extension Center at Wooster, Wooster, Ohio.

OSU Extension Ashtabula County Office, Jefferson, Ohio.

Agricultural Administration Building, OSU main campus, Columbus, Ohio.



The Agricultural Tax Issues program has been accepted for continuing education credits by the Accountancy Board of Ohio, IRS Director of Practice and the Ohio Supreme Court Commission on Continuing Legal Education.

Workshop information, a downloadable registration form as well as online registration are available at: http://aede.osu.edu/programs/TaxSchool/agissues.aspx or by contacting Warren Lee, Ohio Income Tax Schools, at (614) 292-6308 or lee.69@osu.edu.

The Agricultural Tax Issues Workshop is sponsored by the Ohio State University Department of Agricultural, Environmental and Development Economics and Ohio State University Extension.

Writer:
David Marrison
marrison.2@osu.edu
(440) 576-9008

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Keith L. Smith, Associate Vice President for Agricultural Administration; Associate Dean, College of Food, Agricultural, and Environmental Sciences; Director, Ohio State University Extension and Gist Chair in Extension Education and Leadership. TDD No. 800-589-8292 (Ohio only) or 614-292-1868.