Gifts of Grain: Tax Benefits for Farmers

If you’re a farmer looking to reduce your tax burden, RCCF has an option you should consider. Making a gift of grain is an easy way to lower your taxable income while benefiting your community.

 

When grain is donated at the time of sale, it is not counted as income. Less income means fewer taxes to pay. Production costs are still deductible. It’s a simple process to follow. Just decide on a dollar or bushel amount you’d like to donate when you’re ready to sell.* Each local elevator has a short form to complete or you can download it. It’s really that easy.

 

I am not successful on my own. Society provides me with countless support including education, research, good roads, stable markets and supplies. I feel called to support our society that supports me, and that’s why I donate grain to the Rush County Community Foundation,” shared Doug Miller, donor and Rush County farmer.

 

RCCF receives your donation with the proceeds going into the Rush County Ag Fund. This fund provides grants to nonprofits providing agricultural training, supporting youth farmers and preserving the history of agriculture in Rush County. If you’d prefer that your gift benefit a different fund, we’re happy to accommodate your request.

 

When you make a gift of grain to RCCF, you reap tax benefits while harvesting for the future of Rush County! If you have any questions, please contact us as at info@rushcountyfoundation.org or (765) 938-1177.

 

*We encourage you to talk with your tax professional to determine the best option for your financial goals.

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