Charitable Contributions of Conservation Easements  

Oleh:

Lafond, C. Andrew ; Schrader, Jeffrey J.

Jenis: Article from Bulletin/Magazine
Dalam koleksi: Journal of Accountancy vol. 212 no. 5 (Nov. 2011), page 58-62.
Topik: Tax Regulations; Charitable tax deductions; Conservation Easements
Fulltext: Charitable Contributions.pdf (66.49KB)

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ85.31 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

Charitable contributions of conservation easements allow taxpayers to obtain a federal tax benefit while helping to conserve land for public use or enjoyment or to preserve a historic structure. Through the use of these easements, ownership of land or a historic building is kept in private hands but with restrictions on its use. The easement creates a discounted value for the property that provides a charitable contribution tax deduction and tax savings for the owner of these properties, while the public benefits from the conservation objectives. From 2003 through 2007 approximately 3,000 tax returns per year contained a charitable deduction for donation of a qualified conservation contribution. Tax practitioners need to be aware of the rules and procedures to successfully support these transactions and their tax treatment. They must be able to select a qualified appraiser and assess an appraisal for compliance with procedural and substantiation requirements.

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