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Forest landowners invited to learn about the timber tax
Posted Feb. 12, 2015 @ 1:30 pm
There will be a free informational session on timber tax for forest landowners on Wednesday, February 18 at 6 p.m. at the St. Ignace Public Library.
Hosted by the Chippewa/Luce/Mackinac Conservation, in conjunction with the Forestry Assistance Program, the program will feature presentations from Susan Metcalfe of Metcalfe Forestry LLC and Burns Timber Tax Service.
The tax treatment of timber sale income is a highly specialized area of the federal tax code.
This informational session will focus on: reporting timber as capital gains, creating the cost basis of timberlands, depletion accounts and depletion deductions, determining management expenses, and filling a Federal Form T with your taxes.
Landowners who have had a timber sale in the past three years, plan a timber harvest in the future or have recently purchased forest land will benefit from this presentation.
Light refreshments will be provided. The St. Ignace Public Library is located at 110 W. Spruce Street.
Please RSVP by February 17 to receive an informational packet at no cost.
For more information, contact Brook Alloway at (906) 632-9611 ext. 109.
Forest landowners invited to learn about the timber tax
Posted Feb. 12, 2015 @ 1:30 pm
There will be a free informational session on timber tax for forest landowners on Wednesday, February 18 at 6 p.m. at the St. Ignace Public Library.
Hosted by the Chippewa/Luce/Mackinac Conservation, in conjunction with the Forestry Assistance Program, the program will feature presentations from Susan Metcalfe of Metcalfe Forestry LLC and Burns Timber Tax Service.
The tax treatment of timber sale income is a highly specialized area of the federal tax code.
This informational session will focus on: reporting timber as capital gains, creating the cost basis of timberlands, depletion accounts and depletion deductions, determining management expenses, and filling a Federal Form T with your taxes.
Landowners who have had a timber sale in the past three years, plan a timber harvest in the future or have recently purchased forest land will benefit from this presentation.
Light refreshments will be provided. The St. Ignace Public Library is located at 110 W. Spruce Street.
Please RSVP by February 17 to receive an informational packet at no cost.
For more information, contact Brook Alloway at (906) 632-9611 ext. 109.
Forest Landowners Can Learn About Timber Taxes
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