Forestry Index https://forestryindex.net These are the search results for the query, showing results 1 to 15. Forest Landowners - Guide to the Federal Income Tax https://forestryindex.net/links/forest-landowners-guide-to-the-federal-income-tax 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. No publisher mhowell 2020-06-12T07:32:57Z Link Setting up the Books: A Forest Owner's Guide to Capital Accounts https://forestryindex.net/links/setting-up-the-books-a-forest-owners-guide-to-capital-accounts ...and Recordkeeping for Federal Income Tax Purposes No publisher mhowell 2021-02-13T12:17:31Z Link WV Timber Severance Tax Considerations for Landowners https://forestryindex.net/links/wv-timber-severance-tax-considerations-for-landowners This publication explains the application of severance tax to timber in the state of West Virginia. No publisher mhowell 2020-06-28T07:01:59Z Link West Virginia's Property Taxes on Timberland https://forestryindex.net/links/west-virginias-property-taxes-on-timberland This publication describes the taxation process of timberland in the state of West Virginia. No publisher mhowell 2020-07-29T06:27:01Z Link West Virginia's Managed Timberland Tax Incentive Program https://forestryindex.net/links/west-virginias-managed-timberland-tax-incentive-program Recognizing the impact of forestry as a renewable natural resource on West Virginia's economy, the state has allowed it to be appraised under the Managed Timberland Program, which serves as a tax incentive for owners of properly managed property. No publisher mhowell 2020-07-29T02:20:12Z Link Understanding Tax Deductions for Timber Losses https://forestryindex.net/links/understanding-tax-deductions-for-timber-losses Landowners whose timber has been destroyed may be eligible to deduct the loss on their federal income tax returns. No publisher mhowell 2021-05-24T00:04:28Z Link Timber Taxation https://forestryindex.net/links/timber-taxation Forest tax regulations are complex and subject to change. Many IRS agents and accountants are unfamiliar with them, so it is usually up to landowners to educate themselves. The following brief checklist is intended only to alert the reader to certain important points. No publisher mhowell 2021-04-28T19:18:36Z Link Timber Tax Definitions https://forestryindex.net/links/timber-tax-definitions This factsheet defines terminology often used when discussing the taxation of timber. No publisher mhowell 2021-05-29T11:45:26Z Link Timber Losses Through Casualty, Theft or Condemnation--Tax Treatment https://forestryindex.net/links/timber-losses-through-casualty-theft-or-condemnation--tax-treatment As a woodland owner, if part or all of your timber` is damaged, condemned, destroyed or stolen, you may be entitled to claim a deduction on your federal income tax return. No publisher mhowell 2021-05-29T11:45:24Z Link Timber Harvest Tax: Who Pays, When, Where and How Much? https://forestryindex.net/links/timber-harvest-tax-who-pays-when-where-and-how-much Since 1992, timber value is no longer added to the value of the land in the county tax digest. Timber and land are each a separate class of property and are taxed differently. No publisher mhowell 2020-07-28T07:04:47Z Link Timber Basis for Federal Income Tax https://forestryindex.net/links/timber-basis-for-federal-income-tax This article reviews considerations for recovering capital expenditures and briefly touches on smoothing income flows to minimize passive losses. No publisher mhowell 2021-05-29T11:52:32Z Link Taxation of Capital Gains https://forestryindex.net/links/taxation-of-capital-gains The Taxpayer Relief Act of 1997 made many changes in the taxation of long-term capital gains for individuals. Individuals holding timber and timberland must be aware of the changes to minimize the income tax impact on sales of these assets. No publisher mhowell 2020-07-10T17:09:45Z Link Tax Treatment from Timber Sales https://forestryindex.net/links/tax-treatment-from-timber-sales No publisher mhowell 2020-07-28T15:02:14Z Link Tax Tips for Forest Landowners for the 1997 Tax Year https://forestryindex.net/links/tax-tips-for-forest-landowners-for-the-1997-tax-year 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. No publisher mhowell 2021-05-29T11:48:58Z Link Tax Savings on Timber Sales https://forestryindex.net/links/tax-savings-on-timber-sales Understanding tax laws and tax incentives designed to encourage improvement and expansion of woodlands will benefit both you and the general public. No publisher mhowell 2020-07-28T23:02:23Z Link