N. R. Green Resource Consulting, LLC

While  this page revolves around the services that are provided by N. R. Green Resource Consulting, LLC and information pertinent to the management of forest and wildlife resources, I thought I would make a quick post about the best time of the year to be outdoors, and that is The Fall.

In my mind, there is nothing more tranquil or relaxing than being outdoors as the leaves change and temperature falls.

In this day and age where we are tied to the hip with smart phones, and “i thingies” consider getting away from it all and get back in touch with nature.

An October afternoon along the Blue Ridge Parkway near Floyd, Virginia.

Timber Tax Basis Appraisals

In the decade plus that I’ve been practicing forestry, I’ve found that landowners, much to their detriment, are unaware about what their actual tax liability is as it pertains to how much in taxes they must pay out of timber sale proceeds.

Disclaimer:  I am not an accountant or an expert in tax law.

Generally, what happens is that landowners will claim the gross proceeds from the sale of their timber as being subject to capital gains.  What’s unfortunate is that they need not report all of their gross proceeds.  Just as you only pay capital gains tax on the gain in value when you sell stock and make a profit, you are also only required to pay the taxes on the gain in value from when you acquired the timber asset.

While a licensed and qualified CPA can only be the professional who can determine what you must pay in taxes, a professional forester can determine what the timber was worth when you acquired it.  We can take growth ring measurements from either the stump or by examining tree cores, and then make the calculations needed to determine how much timber was on the property when it was purchased, and then use available records to determine what it was worth at that time.

This can save landowners thousands of dollars!

In some cases, landowners may claim a loss on the timber should it be damaged by fire, insect infestation or storm damage.  In stands of timber that are in decline due to old age, a loss in value from the time of purchase may also be taken into consideration.

Nathan Green

Consulting Forester

N R Green Resource Consulting, LLC

greenresourceconsulting@gmail.com