Tax time will be upon us before you know it. The 2010 tax tips sheet is available from the Cooperative Forestry unit if the US Forest Service. The tip sheet is provided by Linda Wang, National Timber Tax Specialist, and John Greene, Research Forester, Southern Research Station.
The tip sheet can be acccessed by clicking here. This year the sheet includes information on such topics as Timber as Personal, Investment, or Business Property; Timber Sales; Timber Management Expenses; Reforestation Costs; and more. A useful aspect of the tip sheet is that it provides real life examples of how calculations would be made.
Penn State Cooperative Extension is also offering a number of One-Day courses across the state on Timber Taxation. These one-day workshops are for financial advisers including attorneys, accountants, financial planners, foresters, tax preparers, and small-business owners. Interested forest landowners are also invited to attend. For a copy of the brochure with all the dates and locations click here.
For all your timber tax questions go to http://www.timbertax.org/.