The Courier Electronic Edition

OSU offering income tax schools


Ohio State University is offering eight "income tax schools" across Ohio from Nov. 12 through Dec. 11, plus a farm tax workshop on Dec. 18. The schools are designed for tax preparers with some experience preparing and filing federal tax returns for individuals and small businesses. Instruction focuses on tax law changes and on the problems faced in preparing tax returns.

The two-day schools will also provide an Ohio income tax update. Highly qualified instructors will explain and interpret tax regulations and recent changes in tax laws.

Participants receive a 700-page workbook prepared by the Land Grant University Tax Education Foundation especially for the income tax schools held in Ohio and 30 other states. The workbook is available only as a part of tax school registration.

The workbook also covers the changes in filing Ohio tax returns. This workbook includes a searchable CD for the 2004-09 workbooks.

This year, participants will also receive RIA's Federal Tax Handbook. The registration fee includes the workbook and other reference materials, instructor fees, meals, meeting rooms, and other expenses.

The closest tax school location for us is Dec. 8-9 at the Lima Civic and Convention Center, 7 Towne Square, Lima.

Workshop information, a downloadable registration form as well as online registration are available at: http://aede.osu.edu/programs/taxschool/default.aspx

Information can also be received by contacting Warren Lee, Ohio Income Tax Schools, at 614-292-6308 or lee.69@osu.edu.

Tax practitioners with an interest in farm income taxes will also have an opportunity to attend a one-day farm tax workshop on Friday, Dec. 18 in eight locations across Ohio.

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

This 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 lecture given by Harris, supplemented with a showing of the slide presentation he used.

Harris will be available for questions during two conference calls during the day, and OSU 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 the five-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 (sale and leasing of water rights); and wind farms.

For northwest Ohio, this program will be held at the Educational Services Center at 124 Putnam Parkway in Ottawa and at the Wyandot OSU Extension office in the courthouse in Upper Sandusky.

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.

Wilson is "area leader, Maumee Valley, extension educator, agriculture and natural resources," for The Ohio State University Extension service in Findlay. He can be reached at 419-422-3851 or via e-mail at wilson.26@cfaes.osu.edu.