Federal Income Tax on Timber - Key to Questions
http://sref.info/publications/online_pubs/federal_income_tax_faq.pdf
This publication examines the most common situations noncorporate taxpayers face when calculating Federal income tax on their timber holdings. It addresses aspects of each situation using a three column format.
(Added: 20-Feb-2002 Hits: 83 Rating: 0 Votes: 0) Rate It
Filing as an investor or business
http://msucares.com/forestry/tax/file.html
Thanks to the Taxpayer Relief Act of 1997 the tax rate on capital gains this year will be about half the tax rate for ordinary income. If the timber is held as an Investment, most timber sales will qualify for capital gains treatment. Unfortunately, the rules to qualify are stricter for landowners holding timber as a Business. But it can be done!
(Added: 19-Mar-2002 Hits: 31 Rating: 0 Votes: 0) Rate It
Forest Landowners’ Guide to the Federal Income Tax
http://www.srs.fs.usda.gov/pubs/misc/ah_718.pdf
This publication is the latest in a series of income tax handbooks for nonindustrial private forest owners that extends back over 45 years. It represents a major revision of Agriculture Handbook No. 708, Forest Owners’ Guide to the Federal Income Tax. It updates that publication to include tax legislation passed after 1994 and administrative changes promulgated through 2000.
(Added: 30-Apr-2001 Hits: 78 Rating: 0 Votes: 0) Rate It
Handling Reforestation Expenses
http://msucares.com/pubs/publications/pub2102.htm
Forest landowners who spend money on reforestation can take advantage of two federal income tax incentives.
(Added: 19-Feb-2001 Hits: 50 Rating: 0 Votes: 0) Rate It
Handling Stewardship Incentive Program Cost-share Payments for Income Tax
http://www.forestry.uga.edu/warnell/service/library/index.php3?docID=236
This paper addresses a selection of questions that landowners frequently asked about the income tax aspects of SIP cost-share payments.
(Added: 4-May-2001 Hits: 24 Rating: 0 Votes: 0) Rate It
Income Tax Treatment for SPB and Storm Damaged Timber, 1995
http://www.forestry.uga.edu/warnell/service/library/index.php3?docID=231
The corresponding article within this publication reviews income tax treatment for timber losses.
(Added: 4-May-2001 Hits: 29 Rating: 0 Votes: 0) Rate It
Income Taxes and Private Forest Landowners
http://www.sfrc.ufl.edu/Extension/pubtxt/for9.htm
This paper focuses on income tax concerns, although landowner decisions may also be influenced by property and sales taxes. It is divided into three major sections that address recordkeeping, land acquisition and timber sales, and tax requirements for other forest management activities.
(Added: 7-Feb-2001 Hits: 70 Rating: 0 Votes: 0) Rate It
Recovering Timber Costs-Capital Expenditures
http://ohioline.osu.edu/for-fact/0028.html
This factsheet discusses methods that a woodland owner may use to recover the oridinary and necessary expenditures associated with the production of timber held with the intention of making a profit.
(Added: 21-Mar-2001 Hits: 37 Rating: 0 Votes: 0) Rate It
Setting up the Books: A Forest Owner's Guide to Capital Accounts
http://www.utextension.utk.edu/publications/pbfiles/PB1691.pdf
...and Recordkeeping for Federal Income Tax Purposes
(Added: 22-Mar-2002 Hits: 38 Rating: 0 Votes: 0) Rate It
Tax Tips for Forest Landowners for the 1997 Tax Year
http://www.forestry.uga.edu/warnell/service/library/index.php3?docID=237
The long term capital gains rate has been reduced significantly--if you sold your timber at the right time and you met the correct holding period requirements. These new rules, plus the information that follows, are some things to keep in mind.
(Added: 4-May-2001 Hits: 20 Rating: 0 Votes: 0) Rate It
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