by Christmas Tree Tax Team | Sep 4, 2020 | Timber Tax Resources
This is the fourth and final post in a series covering timber tax basics. Part 1 discussed timber activity classification and how classification affects timber taxation. Part 2 covered calculation of cost basis, capital accounts, and the reforestation deduction. Part...
by Christmas Tree Tax Team | May 27, 2020 | Saving Taxes, Timber Tax Resources
This is the third post in a series covering timber tax basics. Part 1 discussed timber activity classification and how classification affects timber taxation. Part 2 covered calculation of cost basis, capital accounts, and the reforestation deduction. This post (Part...
by Christmas Tree Tax Team | Apr 18, 2020 | Saving Taxes, Timber Tax Resources
This is the second post in a series covering timber tax basics. Part 1 discussed timber activity classification and how classification affects timber taxation. This post (Part 2) covers calculation of cost basis, capital accounts, and the reforestation deduction....
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....
by Christmas Tree Tax Team | Mar 18, 2020 | Timber Tax Resources
This is the first post in a series covering timber tax basics. Part 1 will cover timber activity classification. Future posts will explore issues such as calculating cost basis and depletion, taxation of timber sales, completing IRS Form T, reforestation deductions,...
