The Ebb & Flow BLOG

The Enhanced Easement Incentive

The Senate approved the 2014 extension of enhanced tax benefits for conservation easements, IRA rollovers and other tax extenders. Here is an informative article from the Land Trust Alliance 

A synopsis of the conservation provisions are:
• Anyone who donates a conservation easement in 2014 may deduct 50% of their AGI per year for the year of donation and an additional 15 years, until they have deducted the full value of their donation. Qualified farmers, ranchers and forestland owners may deduct 100% of their AGI.

• S corporations may deduct the fair market value of their charitable contributions and are not limited to deducting no more than their basis in their S corporation stock.

• Donors who are older than 70 1/2 may donate up to $100,000 to charity out of their IRA without paying taxes or penalties on the withdrawal.