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OSU Extension, Darke
County
Farm
Management Webinars Announced
OSU Extension is pleased
to announce a series of farm
management webinars to be held in the upcoming two months. These
webinars are
designed to deliver current educational information for farmers,
landowners,
and other interested participants. There is no pre-registration
required for
these webinars. Just log on from the comfort of your home or business!
Attend
all or any of the meetings by logging on to: http://carmenconnect.osu.edu/ohioagmanager.
The following is a description of the upcoming webinars.
Financial & Tax
Implications of Oil & Gas Leases –
Wednesday, March 13, 2013, 7:00 p.m. – 9:00 p.m.
David
Marrison, Associate Professor & OSU Extension
Educator, will be the featured speaker for this webinar. Don’t get
caught
blindsided by the taxes which will be due from signing an oil &
gas lease.
Learn how the IRS handles oil & gas payments. Learn which
payments are
subject to ordinary income taxes versus capital gain; about the
percentage
depletion deduction; and how signing a lease may affect your CAUV
status. Learn
what questions to ask and receive financial planning tips for managing
the
potential income from these wells.
Navigating the ACRE/DCP
Decision in 2013 – Monday, March 18,
2013, 7:00 p.m. – 8:30 p.m.
Chris Bruynis, Assistant
Professor & Extension Educator
will be the featured speaker. With the passage of the 2012 American
Taxpayer
Relief Act, Congress extended many provisions of the 2008 Farm Bill.
Farmers
now can elect to enroll into the traditional Direct and Counter
Cyclical
Payment (DCP) Program, the Average Crop Revenue Election (ACRE)
program, or
neither program. Participants will learn the mechanics and restrictions
of the
programs as well as some strategies to decide which program may be the
best
election for their farm business.
Getting Your Financial
Affairs in Order – Wednesday, March
27, 2013, 7:00 p.m. – p.m.9:00 pm
David Marrison, Associate
Professor and Chris Bruynis,
Assistant Professor will be the featured speakers for this webinar.
Participants will learn how to get a grasp on their financial situation
by
learning how to develop a year-end balance sheet. In addition to
developing a
balance sheet portfolio, this program will help participants develop a
letter
of instructions to their heirs regarding their financial matters. Learn
how to
consolidate all of your financial and personal information (real
property,
savings & investment accounts, legal documents) in one easy
document. This
will help you get a better handle on your finances and allow you to get
a jump
start on your estate plan. Take time in 2013 to organize your financial
matters
for your peace of mind. This program will save you hundreds of dollars
as you
plan and develop your succession, retirement, and estate plans. Get
your
affairs in order so you can concentrate on your family, career, and
bucket
list!
Return to Drainage:
Calculating the Payback Period – Tuesday
April 9, 2013, 7:00 p.m. – 8:30 pm
Bruce Clevenger,
Assistant Professor & Extension
Educator and Eric Richer, Extension Educator will be the featured
speakers.
Participants will learn how farmland drainage enhances crop production
yields
from 40+ years of Ohio State University field research. Learn how
improved
field drainage has yield, soil quality and water quality advantages
compared to
poor field drainage. Farmers and landowners can mutually benefit from a
properly designed drainage system. Learn how to estimate the cost of
subsurface
(tile) drainage and estimate a drainage payback period for your
farmland. Do
today’s crop prices make drainage a good investment? Can a drainage
system be
designed to address water quality concerns? This program will help
answer your
questions on returns to drainage.
Financial & Tax
Implications of Oil & Gas Leases (repeat)
– Friday, April 12, 2013, 7:00 to 9:00 p.m.
David Marrison, Associate
Professor & OSU Extension
Educator, will be the featured speaker for this webinar. Don’t get
caught
blindsided by the taxes which will be due from signing an oil &
gas lease.
Learn how the IRS handles oil & gas payments. Learn which
payments are
subject to ordinary income taxes versus capital gain; about the
percentage
depletion deduction; and how signing a lease may affect your CAUV
status. Learn
what questions to ask and receive financial planning tips for managing
the
potential income from these wells.
For additional
information about these programs contact the
respective presenter.
David Marrison: marrison.2@osu.edu
or 440-576-9008
Chris Bruynis: bruynis.1@osu.edu
or 740-702-3200
Bruce Clevenger: clevenger.10@osu.edu
or 419-782-4771
Eric Richer: richer.5@osu.edu
or 419-337-9210
For more 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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