Having a Timber Sale? Learn how to Minimize the Tax Bite

Have you recently had a timber sale or plan to have one in the future?  Do you know how to report the income and expenses for a sale, and how to minimize the taxes you have to pay?

Many landowners pay more taxes than they need to because they don’t understand how timber income and expenses should be reported and how they are taxed.  Understanding how timber income and expenses are taxed is an essential skill for managing your woods.

Southern Regional Extension Forestry’s Woodland Stewards Program for Landowners aims to promote environmental and forest health through forestry education of landowners.

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

Webinars in the series include:

January 18th              Seeing the Forest for the Trees: An Overview of Forestry Taxes

January 25th              Basics of Timber Basis: Re(setting) the Table

February 1st               Timber Management Expenses and Deductions

February 8th              Keeping More of Your Timber Income Following a Timber Sale

February 15th            Coping with Losses from Nature and Chance

To take part in some or all of these webinars,  register at https://sref.info/woodland-stewards/2022