Clock Ticking on New Deductions for Conservation Easements
Act soon to take advantage of tax incentives designed to help preserve farm and ranch land for generations to come.
by Jody Purdom
Jan 2007 Issue of Wine Business Monthly
There's been a flurry of activity at land trust organizations since a new law went into effect last fall that greatly increases tax deductions available to landowners who donate their property for conservation purposes. Known as "conservation easements," these land donations allow farmers and ranchers to continue using their land, while protecting it from future development. Deduction limitations associated with conservation easements have been temporarily expanded, and many are scrambling to t...
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