What people are saying... “Charitably-minded operating farmers will often reduce their tax bill if they give raised grain rather than cash.” "Gifting grain to a charitable organization can be a very viable and desirable option for cash method farmers. Farmers... sidestep both the income tax and Social Security tax on donated commodities by not including them on the Schedule F."
“'Gifts of Grain' is a easy and helpful tool that every charitably minded farmer should consider using. The National Christian Foundation is one of the most respected charitable foundations in the country. Farmers can use their (and their affliates) services with confidence.” Stuart Boehning, Attorney “Charitable donations of current or prior year commodities may reduce taxes for cash basis farmers, especially those who cannot itemize deductions.” "The immediate tax savings from a gift of grain invested at a five percent return will grow to more than the gift’s cost in 15 years (at a 28 percent federal tax rate). "Gifts of Grain" works great! And it is as easy to use as they claim. Any farmer who gives to church and charity will definately want to check this out. It can save a lot of money and make life simpler at the same time. |
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