3 ms·
This is a tax scheme to offset massive amounts of income. I have looked at many of these deals. You can generally get multiples of 3-10x the value based on the
by RayVR 10y ago
This is a tax scheme to offset massive amounts of income. I have looked at many of these deals. You can generally get multiples of 3-10x the value based on the government discount tables.
Congrats to him for playing it this way.
- formula1 10y agoPlease provide a source(s). I appreciate this kind of knowledge because I have little faith in american upperclasses approach to good will. But unless I see proof, I dont want to feel like ab angry fool
- 1123581321 10y agoYou don't need to either way. Our government provides this large tax break incentive intentionally because it is good for the earth.
- RayVR 10y agoIf you simply google this incentive you'll see that it's history long predates any popular notion of environmental preservation.
- 1123581321 10y agoYou're right, and in the last ten years or so (after the IRS took notice and started cracking down on abuses) it's become an intentional conservation strategy. The recent legislation to increase the valuation demonstrates this.
- RayVR 10y agoShouldn't really have to go to google for you but here's the first link: http://www.landtrustalliance.org/topics/taxes/income-tax-incentives-land-conservation http://www.landtrustalliance.org/topics/taxes/income-tax-inc... And by the way, Trump uses these deals extensively. When he builds a golf course he'll donate the right to build condos on ~30% of the property to avoid taxes.