by Christmas Tree Tax Team | Feb 2, 2024 | Christmas Tree Tax Resources, Saving Taxes
With the tax filing deadline for business tax returns (partnerships & S corporations) a little more than a month away (March 15th) and individual income tax returns a little more than two months away (April 15th), below are some helpful tax season resources for...
by Christmas Tree Tax Team | Jan 23, 2024 | Christmas Tree Tax Resources, Live Presentations, Saving Taxes
I was interviewed yesterday by Brownfield Ag News after talking about The #1 Way Christmas Tree Growers Save Taxes to the Wisconsin Christmas Tree Producers Association at the 2024 Growing Wisconsin Conference. The interview goes over lots of good questions, including...
by Christmas Tree Tax Team | Apr 19, 2023 | Christmas Tree Tax Resources
Christmas tree growers who show a business loss on their tax return should not be worried about the hobby loss rules, so long as their farm shows an overall net profit. I’ve received a number of questions over the years dealing with the application of the hobby loss...
by Christmas Tree Tax Team | Nov 1, 2022 | Q & A, Timber Tax Resources
I often receive questions from forest landowners about the differences between Internal Revenue Code (IRC) § 631(a) and § 631(b). IRC § 631 provides capital gain treatment for qualifying timber sales. Capital gain treatment is beneficial to forest landowners,...
by Christmas Tree Tax Team | Aug 15, 2022 | Christmas Tree Tax Resources, Saving Taxes
The capital gain method often results in significantly lower taxes; however, avoid these pitfalls to prevent the IRS from taking your tax savings! If you’ve been reading my articles for any length of time, you’ve probably heard me talk at length about the capital gain...
