Gifts of Harvest Always Welcome
Did you know that giving bushels of grain instead of dollars allows you to make larger gifts that honor your heritage? The Foundation welcomes gifts of grain or livestock. Gifting grain and/or livestock instead of cash saves you tax dollars. For example, you could save 15% in federal an self employment taxes, and 5% in state and county taxes. Giving is a simple three step process. 1) Determine how many bushels you would like to donate or how many head of livestock. 2) Transfer your gift into the Fayette County Foundation account at your elevator or market. 3) Keep records of your donation for your records.
Local farmer Jon and Kay Eakins support the Foundation through gifts of grain. Jon said, “By doing this we are supporting grants that can go toward benefiting the entire community. We like to do this by gifting grain. Our accountant first advised us to do this as a way to make charitable donations while also being a tax savings. Anyone with grain to sell should check with their accountant and let them explain how you can help your community and lower your tax bill at the same time.”
« River’s Edge Canoe Launch Open! Emily Reese »