A law boosting tax deductions for landowners who enroll land in a conservation easement is set to expire Dec. 31. Any landowner wishing to take advantage of the tax deduction that increased from 30% to 50% of a qualified donor's yearly income needs to act fast. For qualified working ranches and farms, the deduction is 100%.

The law tripled the carry-forward for deductions from five to 15 years, but the enhancements apply only to transactions made in 2006 and 2007. Talk with your tax or estate-planning consultant, or log on to www.lta.org/farmersandranchers.