by Christmas Tree Tax Team | Jan 16, 2022 | Live Presentations, Saving Taxes, Timber Tax Resources
Andrew Bosserman will be presenting at the Woodland Stewards Forestry Taxes Webinar series beginning Tuesday January 18th at 1:00pm EST. The webinar series will cover forestry tax topics including timber basis, capital gains on timber sales, casualty losses, activity...
by Christmas Tree Tax Team | Jan 2, 2022 | Christmas Tree Tax Resources, Saving Taxes
It’s the start of a new year and people around the world are making resolutions for things they would like to change or improve in 2022. While many popular resolutions focus on personal aspects, such as losing weight or finding a new job, I developed a list of five...
by Christmas Tree Tax Team | Dec 6, 2021 | Christmas Tree Tax Resources
Over the past few weeks, I’ve been interviewed by the media about the current state of the Christmas tree industry, as well as my speciality–taxation of Christmas trees. Business North Carolina magazine called me “The N.C. Christmas Tree Tax...
by Christmas Tree Tax Team | Oct 25, 2021 | Timber Tax Resources
Every forest landowner should properly report basis on Form T. This is the fifth and final article in the Back to Basis Series. Previous articles have explored what basis is and why it matters, how to calculate an accurate timber basis under different...
by Christmas Tree Tax Team | Sep 11, 2021 | Christmas Tree Tax Resources, Saving Taxes
Yes, you read the title correctly…you can save taxes by employing your children to work on your Christmas tree farm! You can also use this strategy to give your children substantial retirement savings, while lowering your Christmas tree farm taxes each year....
by Christmas Tree Tax Team | Aug 31, 2021 | Timber Tax Resources
Every forest landowner should setup and properly maintain timber capital accounts to maximize their tax deductions. If you have not read them yet, be sure to check out my previous articles in the Back to Basis series that covered what basis is and why it matters, how...
by Christmas Tree Tax Team | Aug 5, 2021 | Christmas Tree Tax Resources, Live Presentations, Saving Taxes
Want a copy of the slides I presented at the 2021 North Carolina Christmas Tree Association Summer Meeting on August 6th? Download the slides below! 2021-NCCTA-Summer-Meeting-PresentationDownload Are you subscribed to my email newsletter? If not, sign up...
by Christmas Tree Tax Team | Aug 5, 2021 | Christmas Tree Tax Resources, Saving Taxes, Timber Tax Resources
Most of my articles focus on how Christmas tree growers and forest landowners can save income taxes. Income taxes usually offer the best opportunity for tax savings because they are often the largest tax paid by most individuals and business owners. However, Christmas...
by Christmas Tree Tax Team | Apr 23, 2021 | Saving Taxes, Timber Tax Resources
The Qualified Reforestation Expenditures deduction is one of the best ways forest landowners can lower their taxes. This deduction permits a forest landowner to accelerate the deduction of timber basis, rather than waiting to deduct the associated basis until he...
by Christmas Tree Tax Team | Apr 16, 2021 | Christmas Tree Tax Resources, Q & A
“Are Christmas trees depreciable?” is a common question I receive from Christmas tree growers. The short answer to this question is no, Christmas trees are not depreciable. However, the cost of Christmas trees is deductible in other ways, through...
