Woodland Owner Tax Tips
If you are a woodland owner do you understand how U.S. tax laws impact you? If not, make sure to check out the “Tax Tips for Forest Landowners: 2022 Tax Year”. This annual publication is produced by the Forest Service in partnership with the University of Georgia and University of Florida. Do you classify your woodland as: personal use/hobby, investment, or business? This choice influences which tax deductions you have available to you. In addition to the 2022 Tax Tips for Forest Landowner make sure to visit the national Timber Tax website at https://www.timbertax.org/ to learn more about the treatment of timber from a tax perspective.
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