Gregory E. Sellers, CPA, AEP®
Monday, July 1, 2019
With the most significant changes to the tax law in over 30 years, the Tax Reform Act of 2017 has led to several questions, including how to tax timber. Some investors and business owners ask if tax rates on timber sales increased. Others think they are no longer allowed to deduct expenses associated with the timber. While much of the tax law is still up in the air, each taxpayer’s facts and circumstances will dictate their classification of timber operations and the resulting taxation.
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