December 3, 6:30pm–8:30pmWhat
Farmers and farmland owners who wish to increase their tax knowledge should consider attending this live webinar that will address tax issues specific to this industry. Content focuses on important tax issues and will offer insight into new COVID-related legislation.
The event is a joint offering from OSU Income Tax Schools which are a part of OSU Extension and the College of Food, Agricultural and Environmental Sciences and Purdue University Income Tax Schools. If unable to attend the live webinar, all registered participants will receive a link to view the recorded webinar at a time of their convenience. This link will be available through the tax filing season.
The two-hour program is targeted toward owners who file their own farm taxes or simply wish to arm themselves with more tax information that will help them to better plan for tax filing.
Topics to be discussed
- Tax Issues related to COVID-related legislation including tax credits, PPP loans, EIDL loans etc.
- New 1099-Misc and 1099-NEC
- Tax planning in an unusual year: prevented planting crop insurance indemnity payments, Revenue Crop Insurance Payments, CFAP payments, etc.
- Like Kind Exchanges (farm machinery and equipment no longer are eligible for this provision – this is a significant change), how this change may affect state income tax and how this change may affect Social Security credits and eventual payments
- Qualified Business Income Deduction, sales to cooperatives, lease income
- Other topics
The cost for the webinar is $35. For more information, contact Julie Strawser at [email protected] or call the OSU Extension Farm Office at 614-292-2433.