Keeping more of Your Timber Income Following a Timber Sale webinar

When:
February 8, 2022 @ 1:00 pm – 2:00 pm
2022-02-08T13:00:00-05:00
2022-02-08T14:00:00-05:00
Where:
online
Cost:
Free
Contact:
Southern Regional Extension Forestry

Do you understand how to save money on your forestry taxes?  Many landowners pay more taxes than they need to because they don’t understand how timber expenses should be reported and how they are taxed.

The Woodland Stewards Extension Program for Landowners is sponsored by Southern Regional Extension Forestry and aims to promote environmental and forest health through forestry education of landowners.

This year Woodland Stewards is holding a five part series of Forestry Tax webinars to help landowners save money on their forestry taxes on Tuesdays at 1 pm from January 18th to February 15th.

The fourth webinar in the series, Keeping more of Your Timber Income Following a Timber Sale, will be held on February 8th from 1 to 2 pm ET.

A landowner may only sell their timber a few times in their life but understanding how to maximize profit and minimize taxes when harvesting takes some thought.

In this webinar, CPA Andrew Bosserman and Extension Tax Specialist Dr. Yanshu Li, will explain one of the top ways forest landowners save taxes—receiving capital gain treatment on timber sales.

This presentation will provide a detailed discussion of how to qualify for capital gain treatment under IRC 631(a) & (b), recordkeeping tips, and proper tax reporting. Tax treatments of cost-sharing payments will also be covered briefly.

To take part in this webinar, or others in this series, register at https://sref.info/woodland-stewards/2022