As 2008 draws to a close, The Samuel Roberts Noble Foundation will help Oklahoma's farmers and ranchers prepare for tax season by hosting a free Tax Update Seminar.

During the event, Agricultural Division economists Dan Childs, Dustin Oswald, Job Springer and Steve Swigert will provide information, tips and advice on:

• capital gains and capital purchase expensing;
• depreciation and Section 179; and
• year-end tax planning regarding equipment purchases, and prepayment of expenses.

The seminar will also provide answers related to Social Security topics, such as Social Security for spouses on the farm, rules that affect collecting disability and income levels that can impact Social Security benefits.

"Many of the provisions of the tax stimulus package approved by Congress are expiring at the end of 2008," Childs said. "This meeting will be a good opportunity to learn the latest information about these provisions as well as other issues that will help agricultural producers better manage their taxable income."

The event is offered at no charge, but advanced registration is required. To register, please contact Tracy Cumbie at 580.224.6411 or at www.noble.org/AgEvents.

08-051

###

News Release Issued: November 21, 2008

For media inquiries concerning the Noble Foundation, please contact J. Adam Calaway, Director of Public Relations, at 580.224.6209 or by email at jacalaway@noble.org.

The Samuel Roberts Noble Foundation, Inc. (www.noble.org), headquartered in Ardmore, Okla., is a nonprofit organization conducting agricultural, forage improvement and plant biology research; assisting farmers and ranchers through educational and consultative agricultural programs; and providing grants to nonprofit charitable, educational and health organizations.