Licensees may not be tax accountants or qualified to provide tax advice, but that doesn’t mean we can’t share resources with our clients. The United States Department of Agriculture recently released Tax Tips for Forest Landowners for the 2016 Tax Year. I’ll confess that reading it (it’s only two pages) made my eyes glaze over, but if the only thing it accomplishes is sending your client to a tax advisor, that’s probably a good thing!
A few years ago I had my small woodlot cut and would have reported the income as “ordinary income” if I hadn’t used a tax advisor. The tax savings was significant. It’s important to “know what you don’t know.”
Licensees could post this link on their website or Facebook Page or send it directly to those on your mailing list who own forest land. Obviously, you won’t be able to answer questions, but folks may appreciate the information you can provide!