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 Christmas tree growers new to my site.
First Things First
If you’re a new Christmas tree grower or just new to my site, first of all, welcome! If you’re wondering who I am and why I started this site, read this article about me: Why I’m Passionate About Christmas Tree Tax.
How to Save Taxes and Other Accounting/Business Tips
The following articles will give you a good overview of ways Christmas tree growers save taxes, as well as accounting and business tips for Christmas tree growers:
The number one way to save taxes as a Christmas tree grower is by using the capital gain method when filing your taxes. How to Save Thousands on Taxes as a Christmas Tree Grower and How an Average Christmas Tree Grower Can Pocket an Additional $27,782 Each Year explain the capital gain method and how to implement it for your farm.
Proper bookkeeping and recordkeeping is extremely important, especially if you are ever audited by the IRS. Read The Best Bookkeeping System for Christmas Tree Growers to learn which system to use for your farm.
Most Christmas tree farms don’t generate a profit in the early years, especially if you are starting the farm from scratch. Make sure to check out Does Your Christmas Tree Farm Ever Lose Money? Beware the IRS Hobby Loss Rules!
If you have children under 18, you can make them millionaires by employing them to work on the farm. Sounds too good to be true? Not at all! How to Save Taxes by Employing Your Children explains this often overlooked strategy.
There is always work to be done on a Christmas tree farm and never enough time to do it all. How do you decide what to do or what to focus on? Follow the 80/20 Principle discussed in Using the 80/20 Principle to Increase Christmas Tree Profits and Using the 80/20 Principle to Decrease Expenses.
Read Differentiate Your Farm from the Competition with this One Simple Tip to learn how to use a Unique Selling Proposition to get more customers to buy Christmas trees from your farm.
Other Resources
While my articles are a great source of tax, business, and accounting insights, other great resources exist for new Christmas tree growers.
All growers should be involved in their state and regional Christmas tree associations. I learned a lot by joining my state’s association when I was just starting out…the wealth of knowledge is incredible and most Christmas tree growers are more than happy to help new growers learn.
The National Timber Tax website also has a helpful webpage about Christmas tree tax.
There is also a chapter in Ag. Handbook 731 (Forest Landowners’ Guide to the Federal Income Tax) about Christmas trees. Stay tuned for an updated version of this publication…I’m one of the reviewers of it!
Finally, feel free to can contact me with any questions, to book a consulting call, or to discuss any other ways I might be able to help you maximize profits and minimize taxes!
