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Enhanced Conservation Easement Tax Incentives Enacted for 2011

A provision of the tax bill signed into law by the President last week increases the tax benefits for qualifying conservation easements placed in effect between January 1st of this year and December 31st of next year.

These temporary incentives increase the amount of income that can be shielded from 30 to 50 percent (100% for farmers and ranchers), and they extend the carry-forward period for any unused portion of a deduction from 5 to 15 years.

These enhanced incentives are scheduled to expire automatically at the end of 2011, and, with mounting concern about Federal debt levels, it may be many years before the incentives are again made this attractive.

If you are looking for a tax deduction, please note these new provisions. This a great time to buy and conserve land. For more information, please contact me matthews@raveis.com.

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