The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: bought forest property||Date: 2/14/2013 10:30 PM|
|Author: 4thebird||Number: 117777 of 124814|
Once again, are you raising swallows and deer to be sold in some way? If so, that would definitely be a farming activity. There's lots of good info out there about farms. However, I'm a city boy. I think I've done one or two farm returns in my career. So I'm not a good resource for that info.
probably can not deduct the cost of tree swallow housing but would love to collect flying insect control costs? probably another thing the IRS would not be amused about.
as for the deer they will be eating the trees so it might be a contest to see who wins that one. one of the reasons I am planting 900 walnut trees for my first round.
but I think I will be able to deduct the cost of the woolly Adelaide control and the spider mite control. that will be a direct cost.
I do not expect to harvest any trees in my life time. the ones that are there are coming down due to tree barking by the loggers and wind sheer. real bummer. probably why there is only 4 deer on the whole 59 acres. the place I have here has 8 acres and I have 4 deer here.
how about the cost of fencing for the apple trees. that is to deter varmints (deer) from eating the seedlings? or is that land improvement. these can be moved as the tree gets big enough to with stand some trimming by the deer.
|Copyright 1996-2016 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|