October 23, 2008

Income tax management for farmers to be discussed

Purdue University Cooperative Extension Service will host a discussion of year-end tax planning and management implications of recent tax law changes. George Patrick, Purdue Extension specialist, and David Frette, a certified public accountant from Washington, Ind., will lead the meeting and cover timely topics.

The meeting, which will be carried over IP Video at several Purdue Extension office locations, will be 7:30-9:30 p.m. EST Dec. 11. There is no registration fee but participants are to sign up for the program by contacting a local Purdue Extension office.

Patrick said taking action on sales and purchases before the end of the tax year and making decisions when completing the tax return could help manage taxes.

Topics to be covered include recent tax changes, basic depreciation options, and additional first-year depreciation and expanded Section 179 expensing.

"Participants will have a better understanding of current tax law and their management options after the workshop," said Patrick.

Extension offices that will carry the presentation include Clay, Dubois, Fountain, Hancock, LaGrange, Lake, Parke, Tippecanoe (campus), Vanderburgh and Whitley counties.

For more information, contact a local Extension office or call (888) 398-4636, extension 44191.

Writer: Elizabeth Fritz, (765) 494-8402, elfritz@purdue.edu

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

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