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Casualties, Thefts and Involuntary Conversions: Some Income Tax Tips for Woodland Owners
This paper defines the conditions that can give rise to a casualty or disaster loss, illustrates how to calculate the tax deductible portion of the loss, and provides some tips on how to document and report such losses. This information is provided in an effort to help interpret current tax laws. It is not intended […]
Determine Your Basis And Keep More Timber Income
Knowing your timber’s worth at the time you acquired it, your “timber basis”, can reduce the amount of taxes you owe on timber sale income. This publication explains how to use your basis when filing income taxes if you did not do so at the time of acquisition.
Do your property taxes seem high?
There is a program that can reduce the tax rate on your woodland
Harvest timber and pay less taxes
You can reduce the amount you pay in taxes following a timber harvest just by knowing and using your basis.
Leasing your sugarbush
The pros and cons of leasing your woodland for maple sap collection
Myths surrounding the Managed Forest Law Program
I have talked with many woodland owners about the financial programs available to them, and I learned that there are many misconceptions surrounding the DNR Forestry’s Managed Forest Law (MFL) Program. There is so much fear and misinformation surrounding MFL that, at times, I feel like I am defending it rather than touting its benefits.
Protecting your Legacy
A Wisconsin landowner’s guide to conservation-based estate planning Your land is part of your legacy. You have been a good steward of your land, carefully making decisions about its use. Planning what will happen to your land after you are gone is the next critical step of being a good steward. In fact, it may […]