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National Park Service - Demystifying the Federal Historic Preservation Tax Incentive Program
The CPA Journal, March 2003 - Gold at Your Client's Doorstep: Federal Tax Incentives for Historic Properties
The Journal of Financial Planning, June 2003
Historic Preservation Easements
The National Park Service has published an article entitled "Historic Preservation Easements" under the Historic Preservation Tax Incentives" section of their website. To link to the article, click on http://www.cr.nps.gov/hps/tps/tax/easement.htm, or click below to read the text of the article here.
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Demystifying the Federal Historic Preservation Tax Incentive Program
The CPA Journal, www.cpaj.com, published an article on the tax incentive for historic preservation easements:
An Underutilized Deduction for Property Owners
Façade conservation easements, under the Federal Historic Preservation Tax Incentive Program, are one of the most underutilized tax deductions available to historic property owners. Many taxpayers are uncertain if their property qualifies and are worried about refinancing and marketability. Historic trusts, not-for-profit organizations that administer conservation easements, can make the procedure easier for taxpayers and their financial advisors. Taxpayers should be aware of this opportunity to save money while also serving the public interest by preserving historic properties in urban settings for future generations.
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Gold at Your Client's Doorstep: Federal Tax Incentives for Historic Properties
Two income tax incentives are readily available to owners of historic property. The better known of the two is the rehabilitation tax credit for qualified commercial property. The other is a tax deduction for the donation of a façade conservation easement. The façade conservation easement, under the Federal Historic Preservation Tax Incentive Program, applies to historic properties regardless of use (commercial and residential) or value, and is a tax incentive that is typically overlooked. Historic trusts - charitable organizations dedicated to the preservation of historic architecture - can make the procedure easier for taxpayers and their financial advisors to take advantage of these programs.