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Wednesday, Aug. 27, 2014

Two great income tax deduction options

Tuesday, December 27, 2011

If you would like to lessen state income tax burden, you can always make a donation to your local Extension Office.

No, I am not joking and did not have too much eggnog.

Seriously, up to $200 per individual and $400 for couples filing jointly given to an Indiana-funded university will receive a direct deduction of 50 percent of the amount given off the state income tax bill. Therefore a $100 contribution to the Purdue Extension-Putnam County program would only cost you $50.

You can also specify how you would like the money to be used (i.e. 4-H, youth development, agriculture, natural resource, or consumer family science educational programming). One could even specify the gift be used for a specific educational program or topic (i.e. 4-H workshop, advanced Master Gardener workshop, resume/job application preparation workshop, etc.).

Give the office a call and ask about this excellent way you can support community programs for minimal cost to your pocket due to the additional state tax break.

Also, one can make a donation to the Putnam County Community Foundation and name the "Putnam County Fairground Endowment" as the recipient. While this option is not eligible for the 50 percent state tax credit that a state funded university or college provides, it is a great option in that the Putnam County Community Foundation is a 501(c)3 entity which provides the federal income tax reduction. And a donation to Fairgrounds endowment certainly helps Extension programs that often benefit by using the Putnam Fairgrounds facilities.

If you desire to see the fairgrounds maintained for your children and grandchildren, this option will certainly benefit the facility. The goal was $100,000 in the first year. That began during the summer with the endowment initiation and it is nearly to the halfway point.

The Extension Office is now located at 12 Central Square in the Pershing Accounting and PNC Bank Building. Check our website at www.extension.purdue.edu/putnam to view the most up to date info.

You can contact the local Purdue Extension Office by calling 653-8411 for more information regarding column topics or to RSVP for upcoming events. It is always best to call first to assure items are ready when you arrive and to RSVP for programs. While many publications are free, some do have a fee. All times listed are eastern time.

Upcoming Events

Dec. 27 -- Extension Office Reopens 8 am

Jan. 2 -- Extension Office Closed for New Year's Holiday

Jan.6 -- Putnam County 4-H Scholarship Intent to Apply e-form due to Putnam County Community Foundation

Jan. 13 -- Putnam County 4-H Scholarships Due to Putnam County Community Foundation

Jan. 15 -- Indiana 4-H Foundation Scholarships Due

Jan. 27 -- Registration Due to Extension Office for 2/18 4-H Judge/Leader Clinic

Feb. 18 -- Bi-state 4-H Judges and Leaders Clinic, Ivy Tech, Terre Haute