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Woodland Owners Notes eNewsletter
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Tax Tips for Forest Landowners for the 2021 Tax Year
We know taxes can be a daunting task especially if you are a private forest landowner trying to navigate the many provisions and rules that may or may not apply to your woodlands. With this year's tax season quickly arriving, it is important to start your planning now to ensure you save as much money as possible. The US Forest Service has these tax tips to help you understand the forest-specific tax provisions and how general tax rules apply to forestry. Careful planning using these tax tips can be a great step towards an easy tax year. Learn More »
You can also take a look at our 'Taxes' page for webinars on timber tax tips and more!
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Despite the Pandemic, Timber
Harvests in 2020 Did Not Slow Down in North Carolina
Recent data shows that the NC timber industry is resilient and continues to perform better despite the COVID-19 Pandemic. In 2020, the total stumpage value of timber harvest, the value that landowners received for their standing timber, was about $590 million, up 2.1% from a year ago. While the timber prices were down, overall timber harvests were reported to increase by approximately 5%. Bertie, Beaufort, and Craven were the top three counties in terms of the 2020 timber delivered values, respectively. Learn More »
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New Smoke Management Resources
Smoke management is a critical piece of any prescribed fire operation. As many agencies, organizations, and private landowners prepare for late winter burning these smoke management resources put together by the Southeast Prescribed Fire Update may be particularly helpful in addressing common issues that arise in managing prescribed fire smoke and air quality. Make sure you understand the elements and techniques in smoke management for prescribed burning before you burn.Learn More »
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Predictions for the Global Forest Industry in 2022
See what Forest2Market experts predict in the global
forest industry this new year. While 2021 had many unexpected changes, experts have suspicions of what trends forest aspects will follow. Luckily, "the industry as a whole remains solidly profitable and structurally sound despite changing demand patterns and supply chain strains that continue to be a source of frustration across the entire economy." Find out specific outlooks for the southern log market, US housing market, carbon initiatives, global supply chain, and more!Learn More »
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Send Us Your Suggestions!
We want to know what you want to know! Please send your suggestions, comments, and concerns to our email. If you want more information on economics, forest management, education opportunities, estate planning, or any other topic, let us know and we are happy to work to include it.
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Coming Events of Interest to Woodland Owners
February 1, 2022 (Tu), 1 - 2 PM ET, Timber Management Expenses and Deductions. This webinar is the third of five in the "Forestry Taxes: Learn, Plan & Save Money Webinar Series." Managing your timber costs money, and like any other business, many of your expenses can be deducted from your tax bill. In this presentation, you will learn how to assess your forest management costs and correctly claim your deductions. In addition, presenters will discuss other related topics from how to fill out a “Form T,” to the ins and outs of reforestation costs, and conservation easements. Register in advance with the forestry webinars portal.
February 8, 2022 (Tu), 1 - 2 PM ET, Keeping More of Your Timber Income Following a Timber Sale. This webinar is the fourth of five in the "Forestry Taxes: Learn, Plan & Save Money Webinar Series." Learn about one of the top ways forest landowners save taxes—receiving capital gain treatment
on timber sales. A landowner may only sell their timber a few times in their life but understanding how to maximize profit and minimize taxes when harvesting takes some thought. Join this presentation for a detailed discussion of how to qualify for capital gain treatment under IRC 631(a) & (b), recordkeeping tips, and proper tax reporting. Tax treatments of cost-sharing payments will also be covered briefly. Register in advance with the forestry webinars portal.
February 9, 2022 (W), 1 - 2:15 PM ET, USFS Methods and public health impacts of community-based urban forestry efforts. Dr. Michelle Kondo, USDA Forest Service will present research on the
public health implications of Philadelphia's 30% tree canopy goal, along with research around the public health value-added of urban greening efforts that are community engaged Erica Smith Fichman will outline the extensive public engagement effort that informed the Philly Tree Plan, Philadelphia's 10-year strategic plan for the equitable growth and care of the urban forest. The Philly Tree Plan included 7 different public engagement programs and tools that centered community in order to create a plan that brings the benefits of trees to the people who need them the most, in the ways that support them the best. Find out more about this webinar on the USFS Urban Forest Connections Webinars Series page.
February 15, 2022 (Tu), 1 - 2 PM ET, Coping With Losses from Nature and Chance. This webinar is the last of five in the "Forestry Taxes: Learn, Plan & Save Money Webinar Series." Growing trees can be subject to forces beyond the owners’ control from weather catastrophes to timber theft and more. While forest landowners can’t plan for these unexpected events, they can learn more about the tax implications for casualty loss, non-casualty losses, timber theft, trespassing, and more. Join this webinar for insights into the best ways to cope with timber losses from nature and chance. Register in
advance with the forestry webinars portal.
February 17, 2022 (Th), 12 - 1:30 PM ET, USFS Fueling Collaboration: Fire and the Wildland Urban Interface in the Eastern US. Notions of fire and the wildland-urban interface often bring to mind scenes from the western United States, where catastrophic wildfires have led to catastrophic losses. In contrast, mapping efforts have found that the vast
majority of the WUI acres can be found in the eastern United States. This panel will talk about how wildfire, prescribed fire, and climate change intersect in the WUI of the east. Learn more on the Fueling Collaboration Panel Discussion Series webpage. Register in advance on their registration page.
February 22, March 22, April 26, 2022 (Tu), 7 - 8 PM ET, SC Women Owning Woodlands Webinar Series. You own more than just trees. Join Clemson Extension for their upcoming winter/spring webinar series for topics such as enhancing woodlands with prescribed fire, protecting historical, cultural, and
ecological special sites, and meet-ups with SCWOW. Learn more about this series and register in advance on the SCWOW registration page.
March 1, 2022 (Tu), 1 - 2 PM ET, North Carolina Prescribed Fire Council Virtual Field Trip.
Join the NC Prescribed Fire Council and Consortium of Appalachian Fire Managers and Scientists for a virtual field trip to western North Carolina. The virtual field trip will be shown and followed by a panel discussion with fire managers from the sites shown in the video. The video features locations selected for the 2021 PFC Annual Meeting field trip prior to the pivot to a fully virtual event. Register in advance on their registration page.
March 3, 2022
(Th), 6 - 8 PM ET, Sustainable Land Retention Project Webinar - Estate Planning: Get Informed, Talk with Family, Take Action. Land passed down without a will becomes heirs' property
with multiple owners with different interests. This webinar will provide strategies and approaches to assist families to overcome the challenges of estate planning and heirs' property. Register in advance on the Estate Planning Registration page.Webinars & Online Learning
Forestry Webinars on
Demand Webinars are a great opportunity to learn about different forestry topics from experts in the field. We have collaborated with professionals from a variety of backgrounds, including forestry, economics, law, and more to bring you relevant topics at home.
eFire This interactive site allows you to choose your own eFIRE experience! Become virtually immersed in a prescribed burn, learn why and how burns are conducted, read the
provided resources, and/or hear from the multiple types of people who use prescribed fire as a land management tool!
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Woodland Owner Notes E-news is a monthly email newsletter from Extension Forestry at NC State University. This newsletter is made possible through support from the Renewable Resources Extension Act and the National Institute of Food and Agriculture. The 2022
editors are:Mary Lou Addor, NC State University, Extension Forestry, Raleigh, NC
Robert Bardon, NC State University, Extension Forestry, Raleigh, NC
Jim Hamilton, NC Cooperative Extension Service, Boone, NC
Alton Perry, Roanoke Electric Cooperative, Rich Square, NC
Colby Lambert, NC Cooperative Extension, Lillington, NC
Rajan Parajuli, NC State University, Extension Forestry, Raleigh, NC
Jennifer Fawcett, NC State University, Extension Forestry, Raleigh, NCSend Comments and Suggestions to the Editor, at NC State University, Email: extension_forestry@ncsu.edu.
If you received this email as a forwarded message, and like what you see, please add yourself to our mailing list by subscribing below.
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NC State University and N.C. A&T State University work in tandem, along with federal, state and local governments, to form a strategic partnership called N.C. Cooperative Extension.
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