From Donald Trump's Donations Put Him in Line for Conservation Tax Breaks - WSJ (sub), by Richard Rubin, 2016 March 10:
Donald Trump might be scoring millions of dollars in federal tax breaks by promising to limit development on some of his properties. The self-described "ardent philanthropist" donated development rights for some of his most valuable properties to conservation groups and local governments, protecting songbirds and big brown bats, and giving himself the ability to claim federal tax deductions, according to land records in four states. Last year, the front-runner for the Republican presidential nomination pledged not to build on 74% of his Westchester County, N.Y., estate, and in 2014, he promised not to construct houses on a driving range in California, according to the records. He previously donated so-called conservation easements on his Mar-a-Lago Club in Palm Beach, Fla., and his Bedminster, N.J., golf course. The land restrictions are legally binding and permanent. Mr. Trump's campaign in a news release described him last year as a "major contributor" to charities, citing donations of "valuable parcels of land throughout the country." The campaign said he had donated $102 million over five years, far exceeding reported gifts to his foundation. The campaign hasn't provided a detailed list of donations and didn't respond to requests for comment. Because Mr. Trump has so far declined to release his tax returns, citing continuing audits, it is impossible to tell what he deducted, how he valued the donations and whether the Internal Revenue Service challenged him. ..... < snip > ..... The break can be susceptible to abuse by wealthy landowners through inflated appraisals and tenuous definitions of conservation. The IRS routinely fights taxpayers over the tax break in audits and court cases, and the government often looks skeptically at easements on golf courses. ..... < snip >
Republican front-runner frequently donates development rights for properties, giving him the ability to claim a tax break in return
What about cost of living?
Ron Insane-a. Another quack doctor declaring that HE really knows what’s wrong with Donald Trump. The phrase, “Consider the source” really counts here; that being CNBC, containing those three deadly letters, N-B-C. Those three letters, in that order, are deadly to truth and honesty.
I should also add military hardware to our exports.
Tell us why u posted the article on land donations please? I’m sure u always pay more tax than you need to ? What’s your point?
I take any Legal tax break I can, don’t you?