MANAGE FORESTS & LAND

  • 2020 Texas Timber Tax Workshop

    Join the conversation about timber tax on Twitter as we live tweet the 2020 workshop! Follow us @TXForestService and use our event hashtag #TxTimberTax to reach out, share updates, and ask questions about timber tax. Selected questions tweeted with #TxTimberTax will be answered by our experts!

     

    Join Us Live 2020

     

    Many landowners continue to pay more than their fair share of taxes on their timber income. Even forest landowners who use accountants need to understand how timber expenses and income are taxed, since some tax preparers are not well versed in special tax treatment for forestry. Knowing the tax laws will give you an advantage in planning your forest management activities.


    The daylong workshop will provide basic information about timber taxation and the latest changes to tax laws and rules for 2019 tax return preparations. Topics will focus on federal timber income tax issues for private forest owners with a refresher on local timberland property tax incentives. Participants will gain a clear understanding of commonly misunderstood timber tax issues.


    Who Will Benefit

    The workshop is designed for forest landowners, consulting foresters, accountants, attorneys, and others who work with forest landowners in matters pertaining to timber taxes.


    Download the workshop brochure

     + Speakers
    Dr. Tamara Cushing

    Dr. Tamara Cushing is the Vice President of the SAF Board of Directors and Starker Chair of Private and Family Forestry at Oregon State University. She is an Assistant Professor and Extension Specialist in Forest Economics, Management and Policy. Her primary expertise is in taxation of forests and forest products. Dr. Cushing holds a forestry degree from the University of Florida, two Master’s degrees—one in Forest Economics and one in Taxation—from Mississippi State University, and a PhD from the University of Georgia in Forest Finance. Her research focus is on the effects of tax policies on private landowners. In her Extension role, Dr. Cushing works to educate landowners, foresters and tax professionals about the economics of growing trees and the tax code interactions with forestry in addition to educating landowners about succession.


    Mr. Joe Holcomb

    Mr. Holcomb is an agriculture and timberland appraiser in the Property Tax Assistance Division at Texas Comptroller of Public Accounts.


    CPA

    Coming soon.

     + Continuing Education Credits
    The workshop qualifies for Continuing Education Credits: CFE (foresters) 7.0 hours, CLE (loggers) 6.0 hours, CPE (CPAs) 8.0 hours, and CPT (property tax professionals) 7.0 hours. No prerequisite needed.
     + Agenda

     

    8:00 - 8:30
    • Registration
    8:30 - 10:00
    • Introduction to the Federal Timber Income Tax
    • Basis Determination and Allocation
    • Forest Management Expenses
    • Reforestation Expenses
    10:00 - 10:15
    • Break
    10:15 - 10:55     
    • Texas Timberland Property Tax
    10:55 - 12:00
    • Income Tax Considerations during Timber Sale
    12:00 - 1:00
    • Lunch (provided)
    1:00 - 2:30
    • Cost-Share Payments under Section 126
    • Record Keeping
    • Form T and Other Related Tax Forms
    2:30 - 2:45
    • Break
    2:45 - 3:30     
    • Pitfalls for landowners to avoid
    3:30 - 3:45
    • Use of Advanced Technology for Record Keeping: A Demonstration of TexasForestInfo.com
    3:45 - 5:00
    • Practical Issues during Tax Filing
    • Discussion on current tax related issues
    5:00
    • Adjourn
     + Time & Location

    Feb 10, 2020 (Monday, 8:00 am - 5:00 pm)

    Lottie and Arthur Temple Civic Center
    601 Dennis St., Diboll, TX

     + Registration

    Registration Options:

    1. Register for the event online.


      ==REGISTER NOW==

       

    2. Call (979) 458-6630 to register by telephone.

    3. Download a registration form and fax it to the number on the form or mail it to the address below.  You will need a copy of the free Adobe Acrobat Reader to view and print this application form.

      Mail the form with payment to:

      Attn: Jenny Mendez
      Timber Tax Workshop
      Texas A&M Forest Service
      200 Technology Way, Suite 1281
      College Station, TX 77845-3424

    Registration is $75 and includes a workbook, catered lunch and refreshments. Registration for an additional member (no workbook) is $30.

     + Contact
    If you are interested in exhibiting at the workshop or want to know more about the event, please contact Jenny Mendez at (979) 458-6630 or jenny.mendez@tfs.tamu.edu.