Legacy Soil & Land Advisors is quickly becoming a leading name in the world of agricultural consulting.

Established with the goal of helping landowners maximize the value and productivity of their properties, the company stands at the forefront of a groundbreaking initiative that is reshaping the way soil health is understood, managed, and monetized.

At the helm of the company is Mike Newsom, whose entrepreneurial journey began with a simple investment strategy.

“I started out purchasing agricultural land in Tennessee and Arkansas," says Newsom, CEO, and a Member/ Corporate Partner of Agronomic Science Foundation(ASF), Soil Science Society of America(SSSA), Crop Science Society of America(CSSA), American Society of Agronomy(ASA).

What began as a way to diversify his investment portfolio quickly turned into something greater. As he started acquiring land primarily for recreation such as waterfowl hunting, turkey hunting, and deer hunting, he discovered an opportunity that would change his approach to land ownership and also create an entirely new niche within the agricultural sector.

Newsom’s background as an entrepreneur meant that he was no stranger to managing multiple revenue streams, and with his growing interest in land investment, he saw a need to optimize his financial strategy. Faced with a significant tax obligation, Newsom enlisted the help of an ex-IRS agent and one of the top agricultural accounting firms in the nation.

Together, they began to explore creative ways to reduce his tax burden. It was during this exploration that they stumbled upon Section 180 of the Internal Revenue Code, a provision that would forever change the landscape of agricultural land investment.

The Multi-Million Dollar Tax Strategy Sitting Right Beneath Your Boots

For decades, farmers and landowners believed that land could not be depreciated or used as a tax-deductible asset. Typically, if a farmer purchases equipment, vehicles, or buildings, they could depreciate the value of those assets over time to reduce taxable income. Land, however, was considered a static asset that could not generate deductions the same way. But many are unaware of the fact that the Section 180 of the IRS Code allows for the deduction of land value based on the micronutrients it contained.

“For the first time ever, a farmer could purchase land and take a deduction for the excess micronutrients in the soil,” says Newsom.
These micronutrients such as boron, manganese, calcium, zinc, and copper are essential for healthy soil and plant growth. The revelation that these could be factored into a tax deduction was nothing short of revolutionary.

The mechanics behind Section 180 are complex, but at its core, the policy allows farmers and landowners to test their soil for micronutrient levels. Once the soil is professionally analyzed, the excess micronutrients above the baseline standards set by the USDA are valued as inventory. This creates a unique opportunity for landowners to significantly reduce their tax burden.

Newsom’s team began evaluating hundreds of thousands of acres, and they found that, on average, they can help farmers achieve tax deductions of around $1,800 per acre.

For farms, this translates to a substantial sum especially when compared to the costs of purchasing new equipment or taking on significant debt. The process involves minimal upfront costs and provides a lasting financial benefit. This discovery positions Legacy Soil & Land Advisors as a trailblazer in the land management industry.

Your Land Holds More Than Crops. It Holds Wealth the IRS Recognizes

One of the most profound impacts of Newsom’s discovery is the leveling of the playing field. While larger agricultural operations have long had access to sophisticated financial strategies and tax deductions, smaller and mid-sized farms have often found themselves at a disadvantage. Large corporations are able to invest significantly by leveraging these strategies, driving up the cost of land acquisition and leaving smaller farmers struggling to compete.

Legacy Soil & Land Advisors helps these small and mid-sized farmers access the same tax advantages that have previously been available only to large agricultural businesses. With the ability to leverage micronutrient analysis for tax deductions, even farmers with limited capital can now make more informed and financially advantageous land purchases.

For example, one bidder may not know that the land contains substantial amount of micronutrients per acre that can be used to reduce their tax obligations. Meanwhile, the other bidder is fully aware of this advantage, and they’re willing to bid higher because they know that the micronutrient value will offset their cost. This knowledge can make the difference between securing valuable farmland and losing it to larger competitors.

Through a combination of educational outreach, hands-on soil testing, and expert analysis, Legacy Soil and Land Advisors is setting the stage for an agricultural revolution. By making these micronutrient-based tax deductions accessible to all farmers, Newsom hopes to make a lasting impact on the industry. Whether through carbon credit programs, wetland reclamation, or recreational land development, the company’s holistic approach ensures that farmers are equipped with the knowledge and tools they need to thrive.

It's Not Just Farmland. Its a Tax Goldmine

Legacy Soil & Land Advisors goes beyond tax analysis. It offers a full suite of services that help landowners improve the overall health and profitability of their land. Whether it’s transforming underperforming agricultural land into valuable recreational properties or navigating complex government programs, Legacy Soil & Land Advisors provides innovative solutions that enhance the value of each property.

A key component of their services is the implementation of carbon credit programs, wetland restoration (WRP), and the Conservation Reserve Program (CRP). By converting underutilized or environmentally sensitive land into wildlife habitats or hunting grounds, landowners can earn substantial returns.
This focus on sustainable land management practices extends to its partnership with the Soil Science Society of America (SSSA), a relationship that underscores their commitment to following strict soil health standards. By working closely with the SSSA, Legacy Soil & Land Advisors ensures that their micronutrient analyses are accurate, reliable, and defensible which is an important consideration when dealing with the IRS.

Legacy Soil & Land Advisors’ commitment is evident in an example of a farm in northeast Arkansas, which spanned 780 acres, consisted of both tillable farmland and forested timberland. After conducting a soil analysis, the company was able to determine that the land contained an excess of micronutrients, particularly in the forested areas, which had higher concentrations of valuable nutrients than the farm ground itself.

For this landowner, Legacy Soil & Land Advisors was able to save far more than the original tax obligation. Without this insight into the land’s true value, the farmer would have faced a difficult choice: either go into debt, purchasing new equipment or face a significant tax bill.

“We’re providing data that is accurate and defensible in the event of an IRS audit,” says Newsom.

Your CPA Missed It. We Didn't

Legacy Soil & Land Advisors is not content with resting on its laurels. The company has big plans for the future, with the goal of expanding its services across North America. By focusing on regions like Arkansas, Tennessee, Missouri, and Illinois, Legacy Soil & Land Advisors aims to capture the growing interest in micronutrient analysis and tax deductions. Its long-term strategy includes positioning as the premium provider of these services, focusing on accuracy, compliance, and defensibility.

By year three, the company’s revenue goal is to reach $50 million, a target it plans to achieve through regional domination and a growing network of referrals from banks, CPAs, and agricultural professionals.

As Legacy Soil & Land Advisors gains momentum, the future looks increasingly bright for both the company and the farmers it serves. An emphasis on precision analysis, education and consultation ensure that farmers are able to take advantage of tax deductions and also better understand the long-term potential of their land. The goal is to help landowners achieve their financial objectives while also promoting sustainable, responsible land management practices.

With a focus on soil health, tax optimization, and sustainable land management, the company is setting the standard for what’s possible in the agricultural consulting space. By empowering landowners to leverage the full potential of their land, Legacy Soil & Land Advisors is redefining the future of agriculture itself.

Have questions about how to reduce your IRS tax bill? Farmers, reach out today to learn how we can help you claim substantial tax deductions.