Timber Tax Workshop slated April 22
NORWAY –A Timber Tax Worship is planned for April 22 for loggers, landowners or farmers who have had bought or sold timber sale in the past three years or plan to harvest timber.
Susan Metcalfe, of Metcalfe Forestry & Burns Timber Tax Service, will cover a range of topics involving potential taxes on the money earned by buying and selling timber, how to keep more of that money and pay less in tax.
Tax incentive programs to be discussed include Qualified Forest Program, Commercial Forest and Transitional Qualified Forest. This will also cover myths common in the forestry and accounting communities, explain about the capital gains treatment of the purchase and sale of timber and give valuable tips on how loggers can reduce their regular income and tax liability.
This workshop will be 10 a.m. to 2 p.m. at the Norway City Hall meeting room.