Internal Revenue Service
IRS “T” Form
Ad Valorem Taxes
Cost Basis (Retroactive & Current)
Depletion
Texas “Ag Exemption”
Inherited Timberland
Timberland as a Gift

Taxes, including IRS, county and state, are commonly given less attention than they should be when considering the bottom line of timber profitability.

Forest Management and Timber Taxes are interrelated and need to be considered early when making timber & timberland management decisions.

An especially important tax issue is cost basis, which can dramatically reduce the taxes you pay on timber sale income. Cost basis on inherited timberland can be particularly advantageous.

We can provide the questions and suggest action for most timber and timberland tax situations.