Virginia Forest Service can provide the necessary information for the establishment of timber tax basis. This tax basis is important as it may lower your possible tax gain from a timber sale by a significant 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.  

 

We will work closely with your accountant to maximize your net income and insure compliance with IRS regulations.  Farm and land records should be kept annually to take advantage of deductions and depreciation schedules.  We can supply landowners with the necessary information for establishing a timber tax basis and forest land expense records.