Upcoming Timber and Taxes Workshop in Manistee

A comprehensive workshop focused on timber taxes and related issues will be presented in Manistee on November 7. The event will take place from 1-3 p.m. at West Shore Community College Manistee Downtown Education Center, located at 400 River St. in Manistee.

Expert-Led Session on Forestry Taxation

Susan Metcalfe of Metcalfe Forestry Co. & Burns Timber Tax Service will lead the Timber and Taxes Workshop. The session is designed specifically for forest landowners, foresters, loggers, tax preparers, and those who have purchased or sold timber within the past three years or plan to harvest timber in the near future.

Topics: Timber Taxes, Income, and Capital Gains

The workshop aims to clarify aspects of potential taxes on earnings related to buying or selling timber. Participants will receive guidance on keeping more of their timber income and strategies for paying less in tax. Additionally, the session will address common myths found in forestry and accounting circles and explain the capital gains treatment regarding the purchase and sale of timber.

Property Tax Programs for Forest Landowners

The discussion will also cover the Michigan Commercial Forest Act and the Qualified Forest Program. These property tax programs are designed to provide substantial tax benefits to landowners who engage in sustainable forest management practices. Attendees can expect to gain a better understanding of how to use these programs to their advantage and maximize tax savings.

Registration Details and Cost

The Timber and Taxes Workshop is free and open to eligible participants. Light snacks will be available at no charge. Interested individuals must register by November 2 to secure a spot. Registration can be completed online here or by calling Josh Shields at the Manistee Conservation District office at 231-399-9030, extension 102.

Summary of Key Details

• Date: November 7, 1-3 p.m.
• Location: West Shore Community College Manistee Downtown Education Center, 400 River St., Manistee
• Presenter: Susan Metcalfe, Metcalfe Forestry Co. & Burns Timber Tax Service
• Registration Deadline: November 2
• Cost: Free
• Contact: Josh Shields, 231-399-9030 ext. 102

Who Should Attend

This event is most relevant for forest landowners, loggers, foresters, and tax professionals involved with timber harvesting and timber sales, as well as those interested in the capital gains and forestry tax benefits associated with managing timber resources.

Source: manisteenews.com.