September 26, 2006

Purdue tax workshops offer wise deductions for 2006 filings

"If you've got a habit of putting money in the Salvation Army kettles, you'll need to get a receipt in order to claim that as a deduction," said George Patrick, a Purdue University agricultural economist.

The tax code change is one of several covered at the Purdue Income Tax School. The 38th annual workshop series takes place in 10 Indiana cities in November and December.

A companion workshop series dealing with agricultural taxes is scheduled for three Hoosier cities in November.

Both tax programs are designed to update tax preparers on new wrinkles in federal and state tax laws and regulations before the busy filing period begins.

Among the notable changes for the 2006 tax year is a provision requiring additional proof of charitable giving.

"Congress recently passed the Pension Protection Act, and this legislation did quite a few things to charitable contributions," Patrick said. "For instance, it used to be that people could donate clothing to Goodwill, the Red Cross or other agencies and deduct those contributions. Now they have to have a receipt that specifies that the clothing was in good condition. I'm not quite sure what 'good condition' means."

Tax preparers also have a lot to remember when helping farmers file their taxes.

"There are a large number of laws that Congress has passed that try to protect farmers from some of the tax changes that occur from year to year," Patrick said. "There are almost 50 provisions that deal specifically with agriculture."

The two-day income tax schools run from 8:30 a.m. to 4:30 p.m. local time. Instructors include Patrick, certified public accountants and current or former Internal Revenue Service and Indiana Department of Revenue representatives.

Tax school dates and locations include:

• Nov. 1-2, Evansville — Vanderburgh County 4-H Center, U.S. 41.

• Nov. 13-14, South Bend — Century Center, 120 S. Saint Joseph St.

• Nov. 13-14, Valparaiso — Valparaiso University Union Building.

• Nov. 16-17, Fort Wayne — Indiana University-Purdue University Fort Wayne Walb Union Building, 2010 Coliseum Blvd.

• Nov. 16-17, Kokomo — Johanning Civic Center, 1500 N. Reed Road.

• Nov. 20-21, West Lafayette — Purdue University Stewart Center.

• Nov. 20-21, Indianapolis — Marriott Hotel, 7202 E. 21st St.

• Nov. 27-28, Seymour — American Legion Post 89, 402 W. Second St.

• Nov. 27-28, Muncie — Horizon Convention Center, 401 S. High St.

• Nov. 30-Dec. 1, Indianapolis — Adam's Mark Hotel, 2544 Executive Drive.

• Nov. 30-Dec. 1, Terre Haute — Indiana State University Hulman Memorial Student Union.

Registration is $264 before Oct. 20 and $304 thereafter. The registration fee includes the 2006 National Income Tax School Workbook and other materials. Accountants, enrolled agents, attorneys and certified financial planners are eligible for continuing education credits.

The Agricultural Tax Workshops take place from 8:30 a.m. to 12:30 p.m. local time at the following dates and locations:

• Nov. 6, Evansville — Vanderburgh County 4-H Center, U.S. 41.

• Nov. 7, Indianapolis — Adam's Mark Hotel, 2544 Executive Drive.

• Nov. 8, Warsaw — Ramada Inn, 2519 E. Center St.

Registration is $94 for those who attend the Purdue Income Tax School and $144 for those who do not. The fee includes workshop materials. Continuing education credits are available for accountants, enrolled agents and attorneys.

To register online or download workshop brochures for either workshop, go online. Additional information is available by calling the Purdue Conference Division at (800) 359-2968 or Patrick at (765) 494-4241, gpatrick@purdue.edu.

Writer: Steve Leer, (765) 494-8415, sleer@purdue.edu

Source: George Patrick, (765) 494-4241, gpatrick@purdue.edu

Ag Communications: (765) 494-2722;
Beth Forbes, forbes@purdue.edu
Agriculture News Page

Related Web site:
Purdue Department of Agricultural Economics

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