Forest Taxation: Forest Finance and Timber Tax Education

In this online course, forest landowners and tax professionals learn about forest finance, and timber sales and taxation in order to save money on taxes.
Forest Taxation: Forest Finance and Timber Tax Education - Online Courses
Skill Level: Beginner, Intermediate
Length of Access: 365 days
Sections: 13
Length: 8 hours
Language: English
$99.00

Starting at FREE

Starting at FREE

Description

Financial advisers, such as attorneys, accountants, financial planners and small business owners encounter many questions concerning the taxation and planning for forestry operations. The tax code is notoriously complicated and even seasoned professionals may not be familiar with how it applies to forests and woodlots. But understanding these rules can help forest landowners save money. There are unique tax incentives for forest landowners. Choices you make about how to set up your accounts or structure a timber sale can have enormous financial implications.

Using over 50 instructor videos, short readings, and USDA examples, this course will give you a framework within which to understand these concepts, and to work knowledgeably with other members of your tax team or advise forest landowner clients. Detailed explanations about how to work through the examples are provided. The course also provides links to the necessary Internal Revenue tax forms and shows you how to fill them out for each example.As you work through the sections of the course, you can answer short knowledge check questions to make sure you are on track. The course sorts through the vast array of online information to provide you with a comprehensive and concise annotated source of reputable resources. Last, the course provides practical advice for forest landowners when managing records and estate planning.

Who is this for?
  • Professionals such as accountants, lawyers, tax preparers, financial advisers, foresters, natural resource managers
  • Private forest landowners
What will you learn?

Topics covered include:

  • Basic valuation of timber
  • Establishment of capital accounts, basis, and record keeping
  • Ownership and passive loss rules
  • Deduction of forestry expenses
  • Timber sales and income
  • Reforestation tax incentives
  • Cost share programs
  • Casualty and non-casualty loss
  • Depreciation and Section 179 deduction
  • Conservation easements
  • Christmas tree sales
  • Estate planning

Instructors

Water Energy Food Nexus Bioenergy Agroforestry Forest Economics and Finance International Forestry Forest Extension Non Timber Forest Products

More by Michael Jacobson, Ph.D. 

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