William H. Lock & Associates, Inc. can provide the necessary information for the value of timber at the time of your acquisition. This value, or timber basis, is important as it can lower your possible tax gain from a timber sale by a potentially large amount. We take inventory and growth information and use this to create an estimate of the timber value at the time of your acquisition. This is important to lower your possible "gain" on a timber sale.
Contact William H. Lock & Associates, Inc. at (336) 632-9088 or firstname.lastname@example.org for timber tax information.
The North Carolina Extension Service - Forestry Departmentwww.ces.ncsu.edu/ForestResources/ and www.timbertax.org are excellent sites for timber tax information.
Note: We are not Certified Public Accountants and urge you to contact your CPA for your specific taxation questions and requirements.