Timber Taxation Online Workshop

Time

Session

8:25

Welcome—Dr. Yanshu Li

8:30

Introduction of the major timber taxes and implications

9:00

The 2017 tax reform bill and forest landowners

9:20

Federal income tax

• Setting up timber accounts and allocating timber basis
• Forest management expenses
• Reforestation expenses

10:00

Break

10:15

• Tax treatment of cost-share payments
• Income tax consideration during timber sale

12:00

Adjourn

Time

Item

8:30

• Casualty loss deductions
• Strategies to smooth income and like-kind exchanges

10:00

Break

10:15

• · Forest property tax in Georgia and new changes
• · Georgia timber tax credit program

12:00

Adjourn