The Peck Group, LC
  • Comprehensive Tax Law Representation Since 1995

    We handle every aspect of tax law: preparing tax returns, representing clients during audits, resolving IRS and state tax controversies, and creating tax planning strategies for the future.

  • Problems With The IRS Or State Tax

    Our attorneys are committed to providing efficient and effective tax solutions for individuals and businesses in Georgia and nationwide.

  • Planning For The Future

    Our lawyers help individuals and businesses with all aspects of estate and tax planning. We help our clients use proactive strategies to minimize tax implications in the future

  • Changing The Balance Of Power

    Does it feel like the government has all the power? Taxpayers have rights, too. We use our knowledge of tax law to shift the balance of power and ensure that your rights are protected.

  • Tax Solutions … And Peace Of Mind

Conservation easements and what they can do for your taxes

Donald Trump is undoubtedly a polarizing figure, particularly these days when you can't go a day without reading a story about him running for office. Regardless of your feelings of Trump as a politician and presidential candidate, he is an established -- albeit controversial -- businessperson from whom other business owners can learn various lessons.

For instance, if you run a business and/or own property in Atlanta, you may be thinking of doing what Trump has done multiple times to take advantage of certain tax breaks. You may decide to use conservation easements to claim deductions.

Conservation easements are held by various parties who agree to let other parties hold an interest in a particular property. This land is then protected and cannot be divided, developed or otherwise used in a way that violates the easement. Owners then get a significant tax break for the appraised value of that land.

However, these deductions can grab the attention of the IRS and spark an audit, especially in instances where the deductions add up to millions of dollars, as is the case with Trump who has claimed easements on golf courses and lavish estates.

When the IRS takes a closer look at specific conservation easements, it can identify serious problems that jeopardize the deductions. Further, building or land owners can face serious penalties if they misuse easements or overstate appraisals. There can also be penalties if a land or property owners fails to comply with the various conditions of a specific easement.

Taking advantage of tax breaks and deductions can save Georgia business owners and individuals a lot of money now and in the long run. However, they can be very complicated and confusing, as is the case with conservation easements.

Before you make a critical mistake that could lead to an audit, it can be a good idea to discuss tax-saving strategies and options with an experienced tax attorney.

No Comments

Leave a comment
Comment Information
Email us for a Response

Talk to an Attorney

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

The Peck Group, LC
5855 Sandy Springs Circle N.E., Suite 190
Atlanta, GA 30328

Phone: 770-884-6914
Fax: 770-933-2369
Atlanta Law Office Map

Payment Cards