“This is an important and financially valuable question with extraordinary ramifications on many levels at the heart of the legislative proposition on the table before congress,” says tax attorney, Drew Miles, President of Pathfinder Business Strategies.
Sebastian, FL (PRWEB) September 19, 2013
Imagine being able to help small business owners save money on their taxes while at the same time helping American farmers and land owners enjoy the financial incentive of tax deductions combined with preserving the legacy of their land for the benefit of preservation and future enjoyment for Americans? “This is a big, important and financially valuable question with extraordinary ramifications on many levels at the heart of the legislative proposition on the table before congress,” says tax attorney, Drew Miles, President of Pathfinder Business Strategies, (http://www.TaxSavingProfessionals.com) a tax saving, tax consulting company that has more than 7000 clients from around the country to its credit.
The Legislative Issue
“The Enhanced Easement Incentive Tax Incentive Bill, H.R. 2807,” essentially presently provides financial incentives to American Farmers and Land Owners financial incentives not to develop their property provided it meets various criteria; these incentives fall in the category of Charitable Deductions. Explains Drew Miles: “These are permanent restrictions that don’t allow any further development of a property, and in exchange for this arrangement the land owner would receive very attractive tax deductions.”
How attractive and valuable are these tax deductions? According to Miles, participants in just such a financial structure could make a charitable donation of up to 50% of their adjusted gross income that is presently allowed with a conservation easement tax deduction. But the financial incentives don’t stop there. There is a 15 year carry-forward of any unused deductions under the current rules. This can provide taxpayers valuable future tax benefits.
Good News, Bad News: The Financial Clock is ticking on this Legislation
The good news is that the laws that permit significant tax deductions for the donation of conservation easements are currently in effect until the end of 2013. The bad news is that the legislation and the concomitant tax saving advantages are up for a vote in the form of the House Bill 2807 by December 31st, 2013; what this means is that the current favorable tax deductions status could change.
The Current Bill, Proven to Work for Land Owners and Investors
A report has shown that the present and existing version of Conservation Easement Preservation Act has increased the pace of conservation by a third nationwide. “The only thing we seek,” says Miles, who is a nationally recognized tax authority, lecturer, author and successful entrepreneur, “is to ensure that the present interpretation of the Internal Revenue Code and regulations remains as is, nothing more, nothing less.”
Miles’ Company, Pathfinder Business Strategies, helps clients save money, reduce their taxes and protect their assets. To that end, after more than 5 years of intense and scrupulous research of scouring the IRX tax codes, the company has identified more than 400 tax deductions that are time tested and proven. Miles points out that the average tax professional generally uses only between 15 to 20 tax strategies. Since 1998, Miles’s company has helped more than 7000 client’s save more than half a billion dollars in taxes. Moreover, the average American tax payer pays 31% in taxes. Pathfinder Business Strategies clients pay on average 15% in taxes.
According to Miles, Conservation Partnerships are one of the more effective strategies used on behalf of clients. “Not everyone owns land,” says Miles, “but through the ‘Conservation Partnerships’ program individuals do have the opportunity to participate in not only helping to preserve worthwhile property but also to receive economic benefits through tax deductions.” A free 10-page report “Conservation Partnerships: What You Should Know” has been produced by Pathfinder Business Strategies that can be obtained by clicking on the following link: http://bit.ly/1dsMDhx
Land Owners: Act Now, Contact Your Representative to Preserve the Current Status of “The Enhanced Easement Incentive Tax Incentive Bill, H.R. 2807”
House conservation champions Reps. Jim Gerlach (R-PA) and Mike Thompson (D-CA) introduced the Conservation Easement Incentive Act (H.R. 2807), to make permanent the deduction for the donation of a conservation easement. H.R. 2807 has 136 cosponsors.
- Check to see if your Representative is on the list
Please ask your representative and both senators to co-sponsor new legislation in the 113th Congress to make the easement incentive permanent:
Other bills similar to this:
S. 526: Rural Heritage Conservation Extension Act of 2013
Sponsor: Sen. Max Baucus [D-MT]
Introduced: Mar 12, 2013
Referred to Committee: Mar 12, 2013
H.R. 2713: Capital Gains Easement Act of 2013
Sponsor: Rep. Mark Meadows [R-NC11]
Introduced: Jul 17, 2013
Referred to Committee: Jul 17, 2013
H.R. 523: Protect Medical Innovation Act of 2013
Sponsor: Rep. Erik Paulsen [R-MN3]
Introduced: Feb 06, 2013
Referred to Committee: Feb 06, 2013
H.R. 1918: Brewers Excise and Economic Relief Act of 2013
Sponsor: Rep. Tom Latham [R-IA3]
Introduced: May 09, 2013
Since 1998 Pathfinder Business Strategies (http://www.TaxSavingProfessionals.com) has helped more than 7,000 clients nationally save more than half-a-billion dollars in taxes. The average American pays 31% in taxes, the average Pathfinder clients pays 15% in taxes. Founded by tax attorney Drew Miles, Drew spent more than 6 years pouring over the IRS tax codes seeking ways in which he could reduce his own personal taxes. The majority of tax professionals regularly use between 15 and 20 tax strategies to help clients reduce their taxes. Pathfinder utilizes more than 400 rarely used, misunderstood or simply unknown tax strategies by the majority of tax professionals. These strategies were developed by Drew along with a team of tax lawyer’s and CPAs, including a former IRS Revenue Officer and a former prosecutor with the Department of Justice with a 100% conviction rate. Not one of Pathfinders tax saving strategies has ever been overturned by the IRS. Pathfinder Business Strategies achieves this through record keeping and documentation combined with diligent compliance for provisions in the tax code by our Paralegals and Tax Pros - CPA’s, Attorneys and Enrolled agents. Drew Miles is an accomplished entrepreneur, author and lecturer.