Farm Recordkeeping

Many grain farmers are anticipating unusually high income tax liabilities when they file their 2011 tax return. Even if they did not have a bumper crop, grain prices have been well above normal for the year. If a farmer is charitably minded, this would be a good year to consider making a donation of grain to their favorite church or charity. The tax advantages of donating commodities far outweigh those for a contribution of cash.

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