Woodland Owners: 5 Tips for Tax Savings
While there are many reasons to enjoy woodland ownership, paying taxes on your property and the income you derive from them certainly aren’t among them. Making sure that you take every tax break to which you’re entitled can make the process slightly less painful.
In this article we’ve included several possibilities for tax savings. While most are focused on federal taxes, your state may also have some tax deductions and programs that could reduce your tax bill. In either case, remember that tax laws are complex. It’s always a good idea to discuss your specific tax situation with your accountant, your lawyer, or your tax professional.
*This post was written by Mary Lou Jay, a regular contributor to WoodsCamp blog and AFF's WoodLand Magazine.