Many landowners fail to capitalize on federal tax incentives provided by the government to landowners who are actively managing their forest properties. This is typically due to a lack of knowledge pertaining to the subject and the clerical efforts required to take advantage of these tax incentives.
Facets of forest management such as reforestation expenses and the sale of timber, or even losses of timber assets due to natural weather disasters can provide opportunities for tax-reduction. Most timber sales qualify for lower capital gains tax rates, and reforestation expenditures receive a special deduction as well. However, landowners must go through an application process to reap these benefits.
Let Henderson Forestry Consultants be your timber tax advocate by working with you and your Certified Public Accountant in timber tax planning to minimize your tax liability. We can assist in keeping you well-informed as to the various opportunities for tax reductions, and work with your CPA to guide you through the various application processes.
HFC can also assist you in a variety of other facets of timber tax planning, including:
To speak with one of our Forestry Consultants about any timber tax needs that you may have, please call our office at: (336) 626-0849 or send us an email at: office@hfcforestry.com