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Tax guides available for farmers

December 20, 2012
By DAVID L. MARRISON , Tribune Chronicle | TribToday.com

Happy holidays, Tribune Chronicle readers.

On behalf of our OSU Extension office, I hope that you and your family have a wonderful holiday season. I hope each of you have time to relax and recharge your "batteries" over the holidays.

As we creep closer to the Christmas, I would like to remind you about two upcoming meetings and announce that farmer tax guides are now available at our office.

I am pleased to announce that OSU Extension will help residents kick off the New Year by offering a workshop, titled "Getting your Financial Affairs in Order." This workshop will be held at 1 p. m. Jan. 10 at the Trumbull County Extension office, 520 W. Main St., Cortland.

Yours truly will teach this class which has been designed to help program participants make good on their New Year's resolution to get their financial affairs in order. This workshop will help participants learn how to get a grasp on their financial situation by learning how to develop a year-end balance sheet. January is the perfect time to examine your assets and liabilities and the material presented will be pertinent to homeowners, small business owners and farmers.

In addition to developing a balance sheet portfolio, this program will help participants develop letter of instructions to their heirs regarding their financial matters. Participants will learn how to consolidate all of their financial and personal information into one easy document.

Nothing is worse than searching every nook and cranny of your desk to find your important documents. I will share an easy to use document which allows you to document all your real property; asset list; savings, retirement, and investment accounts; and legal wishes into one place. Get your affairs in order so you can concentrate on your family, career, and bucket list.

The registration fee is $5 per person. Make checks payable to OSU Extension. Space is limited to 30 participants, so reservations are required. If Jan. 10 does not work for your schedule, another session is being held in Jefferson, from 10 a. m. to noon Jan. 5. More information about each of these programs can be obtained by calling 440-576-9008 or at trumbull.osu.edu.

Area farmers who hold a private pesticide applicator's license that expires on March 31 should have recently received in the mail information on the educational sessions the OSU Extension officeshave planned in 2013. Sessions will offer re-certification in CORE and all categories. A pre-registration fee of $35 is required. The registration deadlines will be strictly adhered and late registration fee will be $50. All registrations will be taken by the Geauga County Extension office at 440-834-4656.

Area farmers will want to drop by the Trumbull County Extension office to receive a free copy of IRS Publication 225 - the 2012 Farmers Tax Guide. This 90-page publication explains how the federal tax laws apply to farming. This guide can be used as a guide for farmers to figure taxes and complete their farm tax return. The tax guide can also be accessed on-line at: www.irs.gov/ pub/irs-pdf/p225.pdf

Have a good and safe holiday season!

Marrison is extension educator, agriculture and natural resources, Ohio State University Extension. He can be reached at 440-576-9008 or marrison.

 
 

 

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