This webinar is the second of five in the “Forestry Taxes: Learn, Plan & Save Money Webinar Series.” What are the basics of timber basis? Join this webinar to learn more about one of the most important financial aspects of timber management that often goes unnoticed or underappreciated. Timber basis is how much you have invested in the timber and it is used to determine net taxable income. It can be applied to reduce taxable income, minimize inheritance taxes, and reduce financial losses after a storm, and more.

Many forest landowners pay more taxes on their timber than they should. Accountants can help to calculate taxes, but forest landowners need to understand how timber expenses should be reported, and how they are taxed. Saving money on timber taxes starts by keeping good records and knowing how tax rules will affect your bill. The Woodland Stewards Regional Extension Program for Landowners was developed by a collaborative team of forestry Extension professionals from eleven different organizations. This is the fourth year of the series and other webinars from the current and past series can be accessed on the Webinar Portal.