Harvesting Timber? Think Taxes workshop

The New Hampshire Timberland Owners Association and the University of New Hampshire Cooperative Extension are teaming up to offer a landowner workshop series, Dollars and Cents of Owning Land, to help landowners be prudent woodlot owners. These classes are designed to inform the experienced landowner as well as those who are new to owning a woodlot. Each class provides a comprehensive look at a different aspect of land ownership.

The 3rd workshop of the series, Harvesting Timber? Think Taxes, will be held at the Conservation Center in Concord on February 20th from 5:30 to 8 p.m.

Landowners who generate income from timber sales are subject to federal income tax. This session, taught by Andy Fast, Belknap and Strafford County Extension Forester, will provide a brief overview of timber taxes, then focus on one of the most common federal income tax deductions related to timber income: depletion.

Other topics include calculating taxable gain, ownership structure and taxes, classifying income, and using IRS forms.

This class will be of interest to landowners harvesting for the first time as well as to those with many timber harvests under their belt.

Each workshop starts at 5:30 with a light supper and mingling, with presentations, discussions, and questions and answers to follow. Each class will conclude at 8:00 p.m. Location is at the Conservation Center, 54 Portsmouth St., Concord, N.H.

Come to one, two, three, or all sessions. Preregistration is required for us to plan for food and handouts. Cost is $25 per class for NHTOA members, $30 per class for non-members. To register, go to https://nhtoa.org/index.php?option=com_civicrm&task=civicrm/event/ical&reset=1&list=1&html=1&type=8