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Apply Today for a Cash Payment from the Government

Apply Today for a Cash Payment from the Government

by Christmas Tree Tax Team | Sep 29, 2020 | Christmas Tree Tax Resources

Last week, the USDA opened up applications for the 2nd round of the Coronavirus Food Assistance Program (CFAP 2).  Eligible Christmas tree growers can apply and potentially receive cash payments to offset some of the increased marketing costs associated with the...
What the Coronavirus Stimulus Act Means for Christmas Tree Growers

What the Coronavirus Stimulus Act Means for Christmas Tree Growers

by Christmas Tree Tax Team | Mar 27, 2020 | Christmas Tree Tax Resources, Saving Taxes

On Friday, March 27, the House and Senate agreed on a stimulus package to mitigate the impact of the COVID-19 pandemic. President Trump is expected to quickly sign into law the Coronavirus Aid, Relief, and Economic Stimulus (CARES) Act. [Update: President Trump...
IRS Extends Tax Deadline to July 15 – 3 Additional Months to Save Thousands

IRS Extends Tax Deadline to July 15 – 3 Additional Months to Save Thousands

by Christmas Tree Tax Team | Mar 22, 2020 | Christmas Tree Tax Resources, Saving Taxes, Timber Tax Resources

The IRS announced yesterday that the deadline for filing and paying 2019 taxes is extended to July 15, 2020 due to the COVID-19 pandemic. The extension is automatic; individuals and businesses do not need to file any paperwork to take advantage of the extension....

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RECENT POSTS

What is the Capital Gain Method?

https://youtu.be/B5LgKFL78O4 Understanding the Capital Gain Method for Christmas Tree Growers If you're a Christmas tree grower, there’s a unique tax-saving strategy that could benefit you during tax season: the "capital gain method." While it’s not an official term...

Is Your Christmas Tree Farm a Hobby or a Business?

https://youtu.be/D4PxVnJ64vA Understanding the IRS Hobby Loss Rule for Christmas Tree Farms Introduction If you own a Christmas tree farm, you might be wondering whether your operation is classified as a hobby or a business for tax purposes. In this article, I’ll...

How to Deduct Christmas Tree Planting Costs

A Christmas tree grower should not deduct Christmas tree seedlings and planting costs in the year of planting. Rather, Christmas tree seedlings and planting costs should be capitalized and deducted when the trees are eventually sold. As most Christmas tree growers are...

Alabama Forest Owners’ Association Interview

I was interviewed last week by the Alabama Forest Owners' Association as part of their Capital Ideas - Live! podcast. In the short interview, I discuss why many forest landowners find taxes confusing, as well as common tax mistakes forest landowners make. Check out...

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The information presented on this website is for informational purposes only and is not intended to provide specific tax or legal advice, or create a professional/fiduciary relationship, including an attorney/client relationship.

Each tax situation is different and consultation with your own personal tax professional is strongly recommended before acting on any of the information provided on this website. Tax laws change frequently and the information on this website is only accurate as of the date the individual articles are published.

In particular, the IRS requires us to advise you no person or entity may use any tax advice in this website to (i) avoid any penalty under federal tax law or (ii) promote, market or recommend any purchase, investment or other action.

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