Tag: Taxes

Do property tax benefits for forest landowners work?

by Sarah Farmer, SRS Science Communications  • 
Every state in the U.S. has a program that lowers property taxes for people who enroll their private forestlands. But the programs may not work, according to a new review paper by USDA Forest Service research economist Greg Frey. Frey organized the review around two broad goals that the programs might have: keeping forests as…  More 

Understanding your taxes as a forest landowner

by Kathryn Sosbe, Forest Service Office of Communication  • 
Tax implications for forest landowners depend on the activity or activities on your land. Tax Tips for Forest Landowners: 2022 Tax Year (PDF) can help forest owners understand the basics of forest-related federal tax provisions and how that relates to income tax planning. Tax Tips for Forest Landowners is an annual information and educational publication…  More 

Timber Tax Tips can help forest owners realize potential tax benefits

by Kathryn Sosbe, Office of Communication  • 
Family forests provide many valuable goods and services that extend beyond their boundaries, including clean air and water, wildlife habitat, and carbon sequestration. Although owners of forested land usually don’t get paid directly for those benefits, there are tax incentives that can be associated with management activities. Landowners often do not know that reforestation, timber…  More 

Forest Landowners and State Property Tax Programs

by Sarah Farmer, SRS Science Communications  • 
Every state in the U.S. has a property tax program that lowers taxes for forest landowners. Greg Frey and Stephanie Snyder of the USDA Forest Service, with Justin Meier, Michael Kilgore, and Charlie Blinn of the University of Minnesota recently published two papers that build on their previous analysis of all fifty state property tax…  More 

Promoting Ecosystem Services with State Property Tax Programs

by Sarah Farmer, SRS Science Communications  • 
Every state in the U.S. offers tax breaks to forest landowners. But the details vary significantly – which makes it hard for policymakers to compare the programs, as a team of researchers from the USDA Forest Service and the University of Minnesota has shown. “State property tax programs incentivize ecosystem services,” says Forest Service scientist…  More 

Forest Landowners’ Guide to the Federal Income Tax

by Zoe Hoyle  • 
Tax tips for forest landowners for the 2017 tax year are now available online. Linda Wang, the U.S. Forest Service national timber tax specialist, prepares the tips each year. More detailed information is available through a U.S. Department of Agriculture publication, the Forest Landowners Guide to the Federal Income Tax. Written by Southern Research Station…  More 

Estate Planning for Forest Landowners

by Zoe Hoyle, SRS Science Communications  • 
Family forest owners may use consulting foresters or state extension foresters for advice on the technical details of land management, but many owners shy away from seeking help with how best to pass their forest land on to the next generation. Poor estate planning — or no planning at all — can result in the…  More 

Forest Landowners Guide to the Federal Income Tax

by Zoe Hoyle, SRS Science Communications  • 
Tax tips for forest landowners for the 2016 tax year are now available online. Prepared by Linda Wang, U.S. Forest Service national timber tax specialist. More detailed information is available through a U.S. Department of Agriculture publication, the Forest Landowners Guide to the Federal Income Tax. Written by Forest Service Southern Research Station emeritus research…  More 

Help for Forest Landowners: Estate Planning

by Zoe Hoyle, SRS Science Communications  • 
Family forest owners may use consulting foresters or state extension foresters for advice on the technical details of land management, but many owners shy away from seeking help with how best to pass their forest land on to the next generation. Poor estate planning — or no planning at all — can result in the next generation inheriting…  More 

Family Forest Owners Need More Help with Federal Taxes

by Zoe Hoyle, SRS Science Communications  • 
A recent study by U.S. Forest Service and university researchers offers suggestions on improving efforts to inform family forest owners about beneficial federal income and estate tax provisions available to them. The researchers base their suggestions on focus groups they held in five locations across the United States. The results were published in the January 2014…  More