Conservation Land Easement Warning:
I'm very familiar with them. First off, they are "listed transactions" which the IRS has identified as potentially abusive. Special disclosures are required with the IRS if you participate in one, with very high audit risk and penalties. In December of 2018 the DOJ opened a case against one of the largest promoters to shut them down permanently, and in November 2019 issued another notice they would also pursue promoters, advisors, and tax preparers that assist with the strategy.
So, while we are keeping a close eye on the DOJ case, take these off the table.
We do have access a strategy to provide the results your clients are looking for. This is not a listed transaction, and I personally worked with a large client that paid $40,000 in 2019 to hire an ex Tesla attorney to write an opinion on this strategy. This strategy was sold out for 2019, but there is 2020 opportunities available.
Keep in mind though, all these are just one-offs. We don't pursue selling a single idea or strategy or investment, as attractive as that might be, but as part of a bigger plan they can help boost the overall benefit.
To your success,
Scott Fedyshyn, The Tax Reduction CPA™
CPA Certified Public Accountant
CFP® Certified Financial Planner
CTC Certified Tax Coach
CTP Certified Tax Planner
CMA Certified Managerial Accountant
CFM Certified Financial Manager
MSA Masters of Science in Accounting