Dr. Linda Wang, National Timber Tax Specialist, USDA Forest Service will hold a Timber Tax Filing for the 2016 Tax Year webinar on Friday, February 17th, from 1 to 2:15 pm.
Did you sell timber or receive non-timber income for your woodland in 2016? If so, you will need to report the income from those transactions on your 2016 taxes which are due on April 18th. If so, this webinar may provide useful information to help you file your taxes on time.
Join this timber tax webinar to get the latest tax information, filing updates, and practical tax tips on:
- How to report income and expenses from a timber sale
- What timber-related expenses and losses can be deducted
- Who are responsible for filing 1099 on timber sales
- What are the IRS rules on record keeping and substantiating expenses
The webinar will answer your specific questions through the online interactive session. It will cover the rules for timber tax reporting, including the latest law changes that were passed by Congress affecting individuals and corporate taxpayers. It will discuss the key federal income tax issues on timber transactions that are often unfamiliar by most tax preparers as timber is a highly specialized area in tax law. New tax policy development and its implications, if applicable, will be addressed to help the participants understand the changes for tax planning in the future.
To take part in the webinar, go to: http://www.forestrywebinars.net/webinars/timber-tax-filing-for-the-2016-tax-year No registration is required.