More than half of U.S. land is privately owned—much of it farmed—so tax incentives for land protection could significantly boost efforts to save farms across the country. The 2008 Farm Bill extends substantial tax incentives for “qualified farmers and ranchers” who donate conservation easements. Qualified landowners can deduct the value of donated easements up to 100 percent of their adjusted gross income and carry the unused deduction forward. For the latest on tax incentives and other farm business and family transfer issues, see our updated Farm Transfer and Estate Planning (pdf) fact sheet and the 2008 Conservation Tax Update (pdf).
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