by Christmas Tree Tax Team | Mar 15, 2021 | Christmas Tree Tax Resources, Timber Tax Resources
This one simple mistake on a Christmas tree grower’s or forest landowner’s tax return could result in losing thousands of dollars. Many mistakes in growing Christmas trees, raising timber, and even preparing taxes can be fixed after the fact. Harvested too many...
by Christmas Tree Tax Team | Jan 14, 2021 | Q & A, Saving Taxes, Timber Tax Resources
A question I frequently receive from forest landowners is: can I deduct the cost of forest roads on my tax return? Generally, a forest landowner may deduct at least part of the cost of forest roads through depreciation. However, some of the cost may have to be...
by Christmas Tree Tax Team | Jan 3, 2021 | Christmas Tree Tax Resources, Saving Taxes
Reporting Christmas tree sales using the capital gain method is the best way for most Christmas tree growers to keep more of their profits by minimizing their federal tax liability. In fact, an “average” grower can save $27,782 just by making this simple switch. The...
by Christmas Tree Tax Team | Dec 17, 2020 | Saving Taxes, Timber Tax Resources
As I write this article, Joe Biden will be our next president and the Democrats will retain control of the House of Representatives. Control of the Senate is still up for grabs, pending the result of two Georgia run-off elections in January. 01/06/21 Update: The...
by Christmas Tree Tax Team | Oct 12, 2020 | Saving Taxes, Timber Tax Resources
I recently authored an article in Woodland Magazine titled “The Top Five Ways Timber Owners Save Tax Dollars.” In the article, I explain: The benefits of operating a timber activity as a business, rather than as an investmentHow to pay less tax on timber...
