RE: Tax breaks?? Starting a tree farm?
MAC,
I only hunt on the property and do not itemize. The land was logged to 12 inches just before I bought it. I do plan on logging it in about 20 years. Last year I planted 100 red oak trees and 250 blue spruce. I will likely sell the spruce trees as Christmas trees in 6 years or so. I do not plan on selling the red oak trees (I will likely be dead when they are ready for harvest). My thoughts are to plant enough trees to call it a business/tree farm. I don't know if it can be done?? Any thoughts?? suggestions?? Just looking for some input before I call a cpa.
Thanks
eddie