Quote from
Dopely on March 6, 2024, 7:26 am
https://policyfinder.refed.org/federal-policy/federal-tax-incentives#:~:text=Under%20the%20enhanced%20deduction%2C%20all,taxable%20income%20for%20food%20donations.&text=The%20enhanced%20deduction%20would%20be,(the%20%2430%20basis%20value).
- Federal tax incentives should be expanded to include an alternative tax credit that can be used by low-margin businesses, like many farms, in lieu of the enhanced deduction.
- Federal tax incentives should be strengthened by adding a deduction or credit specifically to cover the cost of transporting donated food.
- Congress should foster the development of innovative, sustainable food recovery models by repealing the “no-charge” provision that does not allow the enhanced deduction to be claimed if donated food is “transferred by the donee in exchange for money, other property, or services.”
- Congress should amend the enhanced deduction to only require compliance with safety standards and safety-related labeling Food, Drug, and Cosmetic Act requirements.
I think we could develop an app that would allow certified trained volunteers to connect with sources of food waste in their communities, and offer better tax incentives for everyone involved, and have more strategically placed redistribution.
https://policyfinder.refed.org/federal-policy/federal-tax-incentives#:~:text=Under%20the%20enhanced%20deduction%2C%20all,taxable%20income%20for%20food%20donations.&text=The%20enhanced%20deduction%20would%20be,(the%20%2430%20basis%20value).
- Federal tax incentives should be expanded to include an alternative tax credit that can be used by low-margin businesses, like many farms, in lieu of the enhanced deduction.
- Federal tax incentives should be strengthened by adding a deduction or credit specifically to cover the cost of transporting donated food.
- Congress should foster the development of innovative, sustainable food recovery models by repealing the “no-charge” provision that does not allow the enhanced deduction to be claimed if donated food is “transferred by the donee in exchange for money, other property, or services.”
- Congress should amend the enhanced deduction to only require compliance with safety standards and safety-related labeling Food, Drug, and Cosmetic Act requirements.
I think we could develop an app that would allow certified trained volunteers to connect with sources of food waste in their communities, and offer better tax incentives for everyone involved, and have more strategically placed redistribution.
