PARKER, Colo. (RFD News) — The “One Big Beautiful Bill” is changing how farmers can deduct charitable contributions, potentially creating a new strategy for producers who regularly donate grain or commodities to churches and food banks.
Farm CPA Paul Neiffer joined us on Thursday’s Market Day Report to help producers navigate the new tax considerations.
In his conversation with RFD News, Neiffer discussed how the legislation changes charitable deduction rules and what the update could mean for farmers moving forward.
The discussion also focused on why donating commodities instead of cash may now make more sense in certain situations, along with some of the rules producers should keep in mind when making charitable donations.
Related Stories
Dr. Jim Mintert of Purdue University spoke with RFD-TV’s Suzanne Alexander about contributing factors, producer opinions on trade policy, and the reading’s big takeaways.
“Now, we don’t know if income is dependent on a trade issue, and extra payment or disaster... or any number of things that we used to not have as high on the list of potential problems.”
