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Filing and Reporting Your Federal Timber Tax

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Some favorable timber tax provisions.
Filing and Reporting Your Federal Timber Tax
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Congress has provided timberland owners with some favorable tax provisions. Here are five major issues on taxing timber you need to understand for filing your federal tax obligation on timber. Understanding these conditions will help you make the most of these helpful provisions and avoid paying unnecessary income tax or making costly mistakes.

Please review the full Tax Tips document provided by the United States Forest Service for more detailed information. This report is only an introduction. Consult the references and links provided for complete information on the topic.

Also understand that we are discussing Federal income tax here. Many states have their own taxing systems which can be dramatically different from federal taxation and is usually an ad valorum, severance or yield tax.

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