Services
Christmas Tree Services
- Making a capital gain election under IRC § 631 for choose-and-cut and wholesale growers
- Taking advantage of accelerated depreciation
- Choosing the most advantageous legal entity (corporation, s-corporation, LLC, partnership, etc.)
- Setting up an organized bookkeeping system
- Tracking the necessary recordkeeping requirements for IRC § 631
- Including a Christmas tree farm in an estate plan or trust
- Cleaning up Christmas tree farm financials for a future sale
- Structuring leases for additional farmland
- Negotiating purchase and sales contracts for Christmas trees and equipment
- Analyzing the implications of a farm sale or transfer of ownership
- Preparing tax returns to minimize risk of an IRS audit
- Defending against an IRS audit
- Analyzing the specific impact of new tax laws
Forest Landowner/Timber Services
- Making a capital gain election under IRC § 631 for forest landowners who cut their own timber or sell it on the stump
- Reviewing basis calculations to maximize timber basis
- Calculate the Qualified Reforestation Expenditure deduction
- Deducting timber casualty losses
- Taking advantage of accelerated depreciation
- Choosing the most advantageous legal entity (corporation, s-corporation, LLC, partnership, etc.)
- Setting up an organized bookkeeping system
- Tracking the necessary recordkeeping requirements for IRC § 631
- Preparing Form T
- Including forest ownership in an estate plan or trust
- Cleaning up forest ownership and timber sale financials for a future sale
- Evaluating the implications of cost-share payments
- Structuring leases for additional timberland
- Negotiating purchase and sales contracts for timberland
- Analyzing the implications of a land sale or transfer of ownership
- Preparing tax returns to minimize risk of an IRS audit
- Defending against an IRS audit
- Analyzing the specific impact of new tax laws