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Tuesday, February 28, 2012

President Obama Proposes Elimination of Charitable Deductions for Golf Course Easements

Nancy A. McLaughlin Golf(Utah), Proposal to Eliminate Charitable Deductions for Golf Course Easements:

Several years ago the IRS suffered a major defeat when the Tax Court blessed a $28.6 million charitable income tax deduction for the donation of a conservation easement encumbering the Kiva Dunes golf course, which is located on the gulf coast in Baldwin County, Alabama. Kiva Dunes Conservation, LLC v. Comm’r, T.C. Memo. 2009-145. ... [E]limination of the charitable deduction for contributions of conservation easements on golf courses is included in the Obama administration’s fiscal 2013 revenue proposals [page 140].

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» First Golfer proposes end to golf course charitable tax deduction from Don't Mess With Taxes
President Obama is a golfer. And I suspect like a lot of duffers this weekend, he's watching The Masters tournament being played at Augusta, Ga. But Obama also is a golfer facing a $777 billion dollar federal deficit in the first half of fiscal year 20... [Read More]

Tracked on Apr 7, 2012 4:40:17 PM

Comments

For a President who spends half his time on a golf course, you would think that Obama would be more sympathetic to tax breaks for them.

Posted by: Woody | Feb 28, 2012 10:20:35 PM