If you are a cash-basis farmer, you may have the opportunity for tax benefits by gifting the grain directly to Answers in Genesis. While donations of grain are not tax deductible, the benefits to you are that you may be able to deduct the cost of production and avoid income taxation on the gift portion of the grain, which would reduce both income tax and self-employment tax. We strongly suggest that you consult with your trusted tax advisor prior to making your gift for current tax laws and to determine whether this method of giving is advantageous to your circumstances.
Contact your grain elevator and have them set up an account in the name of Answers in Genesis (as Seller) using the following address:
Answers in Genesis
Attn: Finance Dept.
PO Box 510
Hebron, KY 41048
All gifts to Answers in Genesis, a 501(c)(3) non-profit organization, are tax deductible to the fullest extent allowed by law. Gifts given to a specific program will be used for that program unless we receive more contributions than can wisely be used for that program.