Roots Of The 250% Solution To Charitable Easement Tax Abuse
The 2.5 limit knocks out the most egregious abuse, but it still strikes me as overly generous. If I was going to put in a limit it would probably be 90% on a three year hold and gradually rise. Remember the deduction is for an easement on the property. And unless you drink the Kool-Aid mixed by Partnership For Conservation (P4C), as easement can’t be worth more than the property itself.
Oakbrook Land Holdings A Major 2020 Tax Court Decision
The conservation deed was problematic for two reasons. It took the value of any subsequent improvements off the top of any extinguishment proceeds and it gave the donee the fixed amount determined at the time of donation.
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Over and over again courts have said that there is nothing sinister in so arranging one’s affairs as to keep taxes as low as possible. Everybody does so, rich or poor; and all do right, for nobody owes any public duty to pay more than the law demands: taxes are enforced exactions, not voluntary contributions. To demand more in the name of morals is mere cant.