Extension of Federal Income Tax Benefits

The US Congress extended for two more years the federal income tax benefits for donors of conservation easements. The incentives make it more beneficial for average-income Americans, especially working family farmers to donate easements on their land. The legislation provides the following benefits:

Raises the deduction from 30% of adjusted gross income in any year to 50%

Increases the number of years over which a donor can take deductions from 5 to 15

Allows qualifying farmers to deduct up to 100% of adjusted income, provided the land remains available for agricultural production

These incentives encouraged hundreds of landowners across the country to protect important open space during the past two years. If you own land that has conservation value, donating a voluntary conservation easement can be a way to conserve the land you love while maintaining your private property rights and possibly realizing income tax deductions or credits.

For more information, contact Laura Hall at 706-613-0122.