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OSU Extension
to Offer Year-end Tax Tips for Farmers
By Sam Custer
OSU Extension, Darke County
Farmers and producers looking to plan ahead for tax filing this year
can learn about federal tax law changes and updates, as well as
potential money-saving tips they can use when filing 2015 tax returns,
from tax experts at Ohio State University’s College of Food,
Agricultural, and Environmental Sciences.
A December 17 workshop offered by OSU Extension, Darke County with
Larry Gearhardt, director of the Ohio State University Income Tax
School Program of Ohio State University Extension, will focus on
interpreting tax regulations and recent changes in tax laws and is
designed to help farmers learn what questions to ask to make more
informed decisions about their taxes, he said.
OSU Extension is the statewide outreach arm of the college.
The “Year End Tax Tips for Farmers” program is at 7 p.m. at 603 Wagner
Ave. in Greenville, in OSU Extension’s Darke County office. The
workshop cost is $5 per person. Reservations can be made by calling
937-548-5215.
Workshop topics will include:
• Section 179 expense deductions
• Bonus depreciation
• Regular depreciation
• CAUV Update
Gearhardt said the topics were chosen because they are “key issues for
farmers.”
The workshop will focus on factors farmers need to weigh individually
when deciding how to file their taxes, including: how old are they; do
they plan to expand their operations; how much they made this year; is
there a younger generation coming up; and which area of agriculture
they are in, Gearhardt said.
“We encourage farmers to sit down with their tax advisors to make the
best decisions for their individual situations, but want to hold this
workshop to let them know more about these major provisions that are
set to expire,” he said. “We like to think of taxes as a risk
management tool, and encourage people to think and plan ahead rather
than at the end of the year when it is too late.
“Preplanning is key.”
For more detailed information, visit the Darke County OSU Extension web
site at www.darke.osu.edu, the OSU Extension Darke County Facebook page
or contact Sam Custer, at 937.548.5215.
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