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 9, 2021 | Timber Tax Resources
After reading What is Basis and Why Does It Matter, you’re probably asking yourself, how do I calculate timber basis? As discussed in my previous article, a forest landowner must calculate an accurate timber basis for maximum tax savings. This article will explain how...
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 | Feb 28, 2021 | Timber Tax Resources
An accurate timber basis is extremely important for every forest landowner. After my webinar on the Top 5 Ways Forest Landowners Save Taxes, I received many comments requesting further explanation of basis. This is the first article in a three-part series on...
