National Timber Tax Website Tax Management for Timberland Owners www.timbertax.org.

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Presentation transcript:

National Timber Tax Website Tax Management for Timberland Owners

National Timber Tax Website Objectives Primary source for information about the treatment of forestland ownerships, timber investments and transactions, businesses and estates under the US Internal revenue Code and the tax codes of the various states. The information provided will be as user friendly as current technology allows The primary audience is individual landowners and small timber businesses: the professionals servicing theses landowners, including CPA’s, enrolled tax preparers, tax preparers generally, attorneys, and consulting and industrial foresters.

National Timber Tax Website Primary Headings Getting Started State Tax Laws Estate Planning Publications Tax Research New Developments Links

National Timber Tax Website Getting Started: Timberland Acquisitions Structuring Ownership Timberland Appraisal Determine Your Basis Record Keeping Management and Operating Expenses Reforestation Expenses Cost-Share Payments Depreciation Casualty Losses Timber Sales & Income Conservation Easements Christmas Trees Form T Exchanges

National Timber Tax Website State Taw Laws Property & Income Taxes Estate Planning Planning Guide, Conservation Easements Publications IRS, Journal Articles, Ag. Handbook Tax Research Master Index, Case Law, Rulings, IRC, How to Section New Developments IRS, Legislation, Case Law Links

National Timber Tax Website Current Projects Ongoing updates to reflect current law, including State property and income tax laws. Development of a comprehensive estate planning website for forestland owners. This will be done in conjunction with, and expand upon, the “Making Estate Planning More Accessible for Forest Landowners” module on the Forest and Range website ( Development of a depletion accounting software package.

National Timber Tax Website User Statistics For the period Aug. 1, 2005 to July 31, 2006 Avg. Hits/Month = 35,000 Avg. Page Views/Month = 89,000 Questions submitted through website = 210

National Timber Tax Website If you have Questions or Comments on the website: Click on the “Contact Us” Link at the bottom of every page us directly at: