Congress recently renewed a 2006 incentive that enables family farmers and other landowners to get a significant tax benefit for donating a conservation easement on their land, according to the Western PA Conservancy.

Landowners who act quickly to conserve their land can now enjoy these enhanced tax benefits, but they’re currently set to expire December 31, 2013.

Landowners who donate voluntary conservation easements to the Western Pennsylvania Conservancy are inspired by many things: they love nature, they feel connected to their land and they wish to leave a legacy for future generations. This inspiration is central to the Conservancy’s work to permanently protect important natural places.

But for almost all donors, donating a conservation easement is a major financial decision, and the federal income tax deduction that comes with a donation helps make easements possible for landowners.

The enhanced incentive allows easement donors to: Deduct up to 50 percent of their adjusted gross income in any year (up from 30 percent); Deduct up to 100 percent of their adjusted gross income if the majority of that income came from farming, ranching or forestry; and Continue to take unused deductions for as long as 16 years (previously six years).

As always, potential easement donors should consult their tax advisor to find out if this opportunity is right for them.

For more information on conservation easements, contact WPC’s Dawn Morrison at 412-288-2777 or or send email to: dmorrison@paconserve.org.

(Reprinted From Water, Land, Life the Western PA Conservancy monthly online newsletter.)

2/4/2013