Monday, January 28, 2013

Two Farm Tax Webinars to be Held

Due to the many changes made by the fiscal cliff legislation, OSU Extension will be hosting two “Farm Tax Webinars.” The first will be held on Tuesday, January 29 from 9:00 to 11:00 a.m. and the second session on Wednesday, February 6 from 7:00 to 9:00 p.m. Farmers are encouraged to choose whichever session fits their schedule best and to connect via the internet at their home. This webinar will be a great way to learn the latest on farm taxes and the impacts of the fiscal cliff legislation.

The following topics will be discussed during this two hour webinar:

  • Fiscal Cliff Legislative Update
  • Farm Bill Extension-what does it mean?
  • Acre & SURE Program Updates
  • New Income Tax Brackets (Income & Capital Rates)
  • Section 179 Extension & Increase
  • Special Depreciation Increase
  • Payroll Tax Increase
  • Filing Status delay due to Form 4562
  • 2012 Weather-Related Sales
  • Crop Insurance and Disaster Payments
  • Weather Related Sales of Livestock
  • Estate Tax Issues
  • New Federal Income Tax Limitations ($5 million, portability, 40%)
  • Elimination of Ohio Estate Tax- 1/1/2013
  • Miscellaneous Farm Issues
  • CAUV Tax Increase Explanation in Counties Across Ohio
  • Oil & Gas Lease & Royalty Income
  • Hunting Lease Income
  • Conservation Easement Deduction

This program is being offered by the OSU Income Tax School Program of OSU Extension. The speakers will include Larry Gearhardt, Dr. Chris Bruynis and David Marrison. No pre-registration is required and producers can attend by logging on to

This will be a great chance to learn more about the changes in agricultural taxes.

More information about this program can be obtained by contacting David Marrison at or 440-576-9008.

For more detailed information, visit the Darke County OSU Extension web site at, the OSU Extension Darke County Facebook page or contact Sam Custer, at 937.548.5215.

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