Canadian County OSU Extension Center offers seminars
El Reno area farming and ranching families need to place Oct. 25 on their schedules to attend the Free Estate Planning and Ag Tax Update Luncheon. This seminar will be held at the Canadian County Fair Grounds Educational Building, 220 N. Country Club Rd., El Reno, Oklahoma. Attendees will learn tools they can implement to begin their Estate Planning. It’s often a difficult subject, but an important step for families wanting to transfer assets from one generation to another. There are several tools available for estate planning, finding the one that is best, depends on everyone’s situation. OSU’s Area Ag Econ Specialist JJ Jones will discuss the tools that are available such as, wills and trusts, as well as what happens when no plans are made.
In addition, OSU’s State Tax Specialist JC Hobbs will discuss the current estate tax implications for both Federal and Oklahoma Taxes. The Tax Cuts and Jobs Act made many revisions to the tax laws affecting individuals and farm businesses. Discussion of individual items include lower tax rates, larger standard deductions, loss of personal exemptions, change of the child tax credit, suspension of many itemized deductions, and other items. Discussion of farm and business items include revisions and changes to depreciation rules including the Expensing and First Year Additional (Bonus) depreciation, modification of the Like-Kind Exchange rules, loss limitations, and other tax law changes.
The Estate Planning and Tax Update Seminars will begin at 10 a.m. which will include a free luncheon and will conclude by 2:30 p.m. This seminar luncheon is sponsored by: BancFirst, InterBank, Great Plains Bank and Oklahoma Ag Credit of Kingfisher.
The Cow Calf and Stocker Chili Luncheon Seminar will be on Oct. 30 will also be held at the Canadian County Fair Grounds Educational Building, 220 N. Country Club, El Reno. The Chili Luncheon will begin at 12 p.m. The luncheon is sponsored by the Canadian County Cattlemen’s Association and Banner Co-op. The guest Speaker for the luncheon is Jena Kellum, Purina Livestock Production Specialist. Kellum, has an extensive amount of experience with livestock nutrition and currently covering areas of central Oklahoma. Stockers and Wheat Production are two commodities that work hand in hand here in Oklahoma. While we want these stocker calves to fulfill their potential of maximizing their average daily gain, there are some nutritional aspects that we must consider for these calves as well. Kellum will speak on starter programs when receiving these calves and proper nutrition while on wheat pasture. Cow-calf operations are another key component of the cattle industry and make up a large percentage of the Oklahoma cattle market. These brood cows have nutritional requirements that vary based on the life stage that she is in. To ensure that we are maximizing production we need to make sure that these cattle have good nutrition and management to succeed. Kellum will touch on fetal programming and how to put together a nutritional program that fits your operation and goals.
Please contact the Canadian County OSU Extension Office to RSVP for the Estate Planning and Tax Update Seminar luncheon by Oct. 23 and RSVP for the Cow Calf/Stocker Chili Luncheon Seminar by Oct. 25.
For more information about this and other educational opportunities being offered by the Canadian County OSU Extension Center contact Kyle Worthington, Extension Educator Ag/4-H and CED at 405-262-0155.
