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, 9:30 to 11:30 a.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