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FR1: Tax Law for Conservationists

George Asimos, Saul Ewing LLP (Bio)
George Asimos is a partner in the law firm of Saul Ewing LLP at their office in Chesterbrook, PA. He has practiced exclusively in the area of real estate and land-use law for over 20 years. His experience includes real estate transactions, zoning and land development law and drafter of conservation easements for the North American Land Trust. He has written and negotiated conservation easements on more than 10,000 acres of land in 11 states. George is a frequent speaker on the law of conservation easements and on other real estate law topics. He is a founding Board Member of the North American Land Trust. In the past he has served as a member of the Environmental Committee of the Brandywine Conservancy, a member of the Board of Supervisors of Pennsbury Township, a member of the Board of the Chadds Ford Historical Society, and a member and Chairman of the Chester County Planning Commission. Though a native of the Delaware Valley, he attended the University of Virginia and the School of Law, College of William and Mary in Virginia.
Harry Shapiro, Saul Ewing LLP (Bio)
Harry Shapiro is a partner for Saul Ewing in the Baltimore Office an focuses on taxation law, tax litigation, and tax-exempt financing law, and has included matters for multinational companies, non-U.S. corporations having U.S. businesses, pass-through entities, professional associations, and wealthy individuals, as well as for numerous tax-exempt organizations such as schools, hospitals, and municipalities. He has advised numerous land trusts and landowners on the issue of donated easements and related matters.
Friday May 04, 2012
09:00am – 12:00pm
Easements, Legal

Description

Two lawyers experienced in tax and conservation law will discuss the Income Tax and Estate Tax provisions of the Internal Revenue Code and Treasury Regulations and related cases that a practitioner should understand to advise a client on the donation of a conservation easement. Among the topics will be:

1. Basic Income Tax principles with an emphasis on charitable contributions and determining the income tax effect of a conservation contribution

2. Basic Estate Tax principles with an emphasis on Section 2031 © pertaining specifically to planning for the estate tax implications of conservation easement donations

3. Section 170(h) and the requirements of a qualified conservation contribution including: qualified organizations, conservation purposes, perpetuity, the “exclusively for conservation purposes” requirement, and the essential contents of a conservation easement document

4. Appraisal requirements for valuing the tax deduction

5. Areas of present interest concerning IRS audits and Section 6700 investigations.

Last updated on 12/08/2011 by Nicole Faraguna

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The people of the Pennsylvania Land Trust Association envision a prosperous Pennsylvania, where communities know that their treasured green places will endure. We envision a Commonwealth where the lands that guarantee our water quality are safeguarded; where every child can safely play at a nearby park; where our productive farmland and forests are protected, securing our food and timber supply; and where wild places are preserved for wildlife and people.

Thank you to the Pennsylvania Department of Conservation and Natural Resources for supporting the Association’s conservation efforts.

© 2012 Pennsylvania Land Trust Association