It is with great excitement that we inform you that, with the passing of the Farm Bill, the enhanced federal tax benefits for conservation easement donations have been extended for another two years!

As a reminder of these benefits, the enhanced tax incentives:

• Raise the deduction a landowner can take for donating a conservation agreement from 30% of their adjusted gross income in any year to 50%;
  
  
• Allow qualifying farmers and ranchers to deduct up to 100% of their adjusted gross income; and
  
  
• Increases the number of years over which a conservation easement donor can take those deductions from 6 to 16 years.
  

Clearly, this law provides substantial new tax incentives to landowners who wish to protect land.  It is important to remember that every conservation agreement donation must meet the requirements of Section 170(h) of the tax code and every deduction must be based on a thorough, honest, realistic, and clear appraisal based on existing market conditions and a supportable analysis of land use possibilities.

Please keep in mind that these tax benefits have only been extended through December 2009, and the process of working with landowners to create a conservation easement that meets all the landowners' goals and preserves the natural significance of properties may require several months to complete, so the earlier the process is started the better we are able to serve you. Our land protection specialists are happy to answer any questions you may have about these benefits or land protection in general.

Please contact us at (336) 633-0143 for Anson, Stanly, Richmond, Randolph and Montgomery Counties, and (704) 647-0302 for Cabarrus, Davie, Davidson, Iredell and Rowan Counties.  Thanks so much for your interest in land conservation, and we look forward to assisting you with your conservation goals.