by Christmas Tree Tax Team | Jan 30, 2021 | Q & A, Timber Tax Resources
A common question forest landowners ask me is: how are cost-share payments taxed? Are the payments capital gain or ordinary income? The short answer is that a forest landowner generally must report cost-share payments as ordinary income. However, a forest landowner...
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 | 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...
by Christmas Tree Tax Team | Oct 4, 2020 | Timber Tax Resources
As I write this post, wildfires are raging along the West Coast, hurricanes have battered the Southeast, and heavy rains have brought flooding to many parts of the country. Even North Carolina, where I call home, had a minor earthquake earlier this year. Even if a...
