“Are Christmas trees depreciable?” is a common question I receive from Christmas tree growers. The short answer to this question is...
Q & A
Q&A: How Are Cost-Share Payments Taxed?
A common question forest landowners ask me is: how are cost-share payments taxed? Are the payments capital gain or ordinary income? The short answer...
Q&A: Deducting the Cost of Forest Roads
A question I frequently receive from forest landowners is: can I deduct the cost of forest roads on my tax return? Generally, a forest landowner may...
Q&A: Converting to the Capital Gain Method
I’ve written previously about how electing capital gain treatment can result in tax savings of thousands of dollars for most Christmas tree growers....
Q&A: Deducting Culled Trees
I recently received a question from a reader that I figured would be helpful to share: Can we deduct our older mature trees that did not sell...
Q & A: Allocating Expenses Between IRC 631 Income and Ordinary Income
I recently received a question from a reader of Christmas Trees Magazine that I figured would be helpful to share: “I wanted to ask why in your...