Manage episode 235919211 series 177207
My guest in this episode is Ernest Nesmith. Ernest brings over 15 years of financial services experience that include wealth management, insurance planning, and tax consulting. Ernest leverages the experience gained working in the corporate divisions of three Fortune 100 companies that include Bank of America and Merrill Lynch.
In today's show, we will discuss Land Conservation Easements and how to utilize this vehicle as an incredibly powerful vehicle to reduce taxes legally as part of an overall strategy.
A Land Conservation Easement is a land preservation agreement between a landowner and a qualified land protection organization in which the landowner donates "qualified" land under Internal Revenue Code 170(h) and exchange may receive a federal income tax deduction in the amount equal to value of their donation.
The tax deduction is determined by determining the current value of the land and subtracting that number from the value of the land at its "highest and best" use. These numbers are determine by thorough examination by a qualified appraiser.
How much can one deduct from his income? As of December 2015, a person may deduct up to 50% of their income using this strategy.
This is a vehicle that accredited investors can utilize and has been extremely powerful for W-2 wage earners.
This episode was originally published as episode 418, and with previous republished episodes, I know this will be extremely valuable for listeners old and new.
Ernest and his team just opened up their latest conservation easement project, if you would like to take advantage of this as part of your tax strategy, with guidance from your own tax advisor and team (Ernest and myself are not tax professionals nor do we claim to be), please reach out to us at email@example.com. The slots for projects such as this do fill up and did last year, there were folks that wanted to take advantage of their last project but were unable to do so. So reach out to us at firstname.lastname@example.org if you are interested because there are limited spots and they do go fast.
If you are interested in joining our investor's group, you can go to cashflowninja.com/investorsgroup and fill out an application form or e-mail me at email@example.com to start the discussion to see if you are a good fit for our group.If you are in the Philadelphia/Bucks County and Southern New Jersey area, we are hosting a live investors meetup event every month in Newtown, PA. For more information on the monthly event and information on how to join us at our next event, you can go to www.cashflowninja.com/events. I am speaking at the Multifamily Investor Nation Summit, coming up on June 27th thru the 29th? It’s a three-day information packed event for multifamily investors, with over 1,000 attendees and over 50 speakers! You will hear from experts about finding deals, raising capital, underwriting strategies, selecting markets, and so much more! To access the event you can go to apartmentevent.com to grab your ticket and use promo code NINJA to get $100 off! Interview Links:
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