by Christmas Tree Tax Team | Jul 15, 2022 | Christmas Tree Tax Resources, Live Presentations, Saving Taxes
Want a summary of the talks I gave at the CTFANY Summer Meeting on July 15 & 16, 2022? Download the summaries below! CTFANY – Pricing Christmas Trees to Maximize ProfitsDownload CTFANY – #1 Way Christmas Tree Growers Save TaxesDownload CTFANY –...
by Christmas Tree Tax Team | Jun 30, 2022 | Christmas Tree Tax Resources
Time flies when you’re having fun! I’ve been posting articles to this site for over two years now and have accumulated a decent amount of resources for Christmas tree growers. This article will link to some of my most helpful articles for new growers or...
by Christmas Tree Tax Team | Jun 15, 2022 | Q & A, Saving Taxes, Timber Tax Resources
My last article analyzed the factors that affect how much money a Christmas tree grower can save by making a capital gain election. I often receive similar questions from forest landowners about how much money they can save on timber sales by qualifying for capital...
by Christmas Tree Tax Team | Jun 1, 2022 | Christmas Tree Tax Resources, Q & A, Saving Taxes
One question I receive frequently from Christmas tree growers is how much money can I save by switching to the capital gain method? A previous article analyzed how the average Christmas tree grower would save approximately $27,000 a year by switching to the...
by Christmas Tree Tax Team | May 14, 2022 | Saving Taxes, Timber Tax Resources
A 1031 exchange (also known as a “like-kind exchange”) allows a forest landowner to save taxes by exchanging timberland (or possibly timber) the landowner currently owns for other real property. Forest landowners who own appreciated timber or timberland are prime...
by Christmas Tree Tax Team | Apr 13, 2022 | Christmas Tree Tax Resources, Q & A
This article discusses the application of IRC § 631 to Christmas tree farms. If you are a forest landowner, read this article about the application of § 631 to timber. I recently received a great question from a reader: I have read lots of information on the capital...
by Christmas Tree Tax Team | Mar 27, 2022 | Christmas Tree Tax Resources
From time to time, especially in the start-up phase, Christmas tree farms show a tax loss rather than a profit. Fortunately, this loss is normally deductible against a grower’s other income, resulting in tax savings. However, if the IRS deems a Christmas tree farm a...
by Christmas Tree Tax Team | Mar 22, 2022 | Christmas Tree Tax Resources, Timber Tax Resources
With the tax filing deadline for individual income tax returns a little less than a month away (the deadline this year is actually April 18th due to the Emancipation Day Holiday in D.C.), below are some helpful resources on Christmas tree and timber tax topics. Check...
by Christmas Tree Tax Team | Feb 19, 2022 | Christmas Tree Tax Resources, Live Presentations, Saving Taxes
Want a copy of the slides I presented at the 2022 PickTN Conference on February 19th? Download the slides below! PickTN Profitability PresentationDownload PickTN Top 5 PresentationDownload Are you subscribed to my email newsletter? If not, sign up...
by Christmas Tree Tax Team | Jan 22, 2022 | Christmas Tree Tax Resources, Live Presentations, Saving Taxes
Want a copy of the slides I presented at the 2022 Wisconsin Christmas Tree Producers Association Winter Convention on January 22nd? Download the slides below! 2022 WCTPA Winter Convention PresentationDownload Are you subscribed to my email newsletter? If not, sign up...
