Farmers and farmland owners wanting to learn more about the recent income tax changes can do so during a webinar from 6:30 to 8:30 p.m. Dec. 3.
Registration is $35, and for those who can't attend, a link will be provided to allow viewing the recorded webinar at a later time. Participants have unlimited views of the replay, and it will be available throughout the 2020 tax filing season.
This webinar will focus on issues related to farmer and farmland owner tax returns, and the COVID-19-related legislation introduced in 2020.
The two-hour program will be presented in a live webinar format via Zoom by Ohio State University Extension educators Barry Ward and David Marrison.
Topics to be discussed during the webinar include:
- tax issues related to COVID-related legislation, including tax credits, Paycheck Protection Program loans, Economic Injury Disaster loans, etc.
- new 1099-Misc and 1099-NEC
- tax planning in an unusual year: prevented planting crop insurance indemnity payments, Revenue Crop Insurance payments, Coronavirus Food Assistance Program 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 your Social Security credits and eventual payments
- qualified business income deduction, sales to cooperatives, lease income
Register at web.cvent.com.