Forest Owners' Guide to the Federal Income Tax

Forest Owners' Guide to the Federal Income Tax

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Provides a framework for analysis of timber invest. a a chapter on timber tax planning. Discusses Fed. income tax considerations for timber incl.: capital costs, reforestation tax incentives, depreciation, operating exp. a the passive loss rules, timber income a capital gains, gov't. cost-share pay., casualty losses a other involuntary conversions, conservation easements, install. sales, alternative min. tax, self-employ. taxes, Xmas tree prod'n., a form of timberland ownership a bus. org'n. Explains how to research tax questions a sources of tax assistance.As a general rule, you should keep accurate and complete documentation of your forestry activities to verify all entries made on tax ... The installment method of reporting revenues by an accrual basis taxpayer results in a hybrid accounting method (see Chapter IX). ... If you adopt this system, you can use business envelopes and label one for each tax category that applies to your woodland ownership.

Title:Forest Owners' Guide to the Federal Income Tax
Author:William C. Siegel, William C. Siegel William L. Hoover Harry L. Haney, Jr. Karen Liu, William L. Hoover, Harry L. Haney, Jr., Karen Liu
Publisher:DIANE Publishing - 1996-12


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