In an article published by Barron’s Penta, Delegate Advisors’ managing partner, Andy Hart, is cited among industry experts on land-related tax breaks available to property owners. People who own as little as three acres and engage in agricultural hobbies have a variety of available tax incentives with potential significant discounts they may not have been aware of.
The article delves into a variety of these incentives that include, agricultural hobbies, timber use, charitable giving, conservation easement and transfers to future generations. Mr. Hart discusses potential estate and gift-tax benefits when passing land on to the next generation. “You may be able to pass on a property worth $100 million for $65 million and (potentially) save (as much as) $35 million from taxes off the top.”