Figuring the Tax on Timberland Income

William C. Siegel

Treesearch

Figuring the Tax on Timberland Income

Informally Refereed

Authors:

William C. Siegel

Year:

1999

Type:

Scientific Journal

Station:

Southern Research Station

Source:

National Woodlands, Vol. 22, No. 1, Jan. 1999, pgs. 21-23

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Abstract

Forest landowners whose timber related activities are considered to be a business may be liable for the self-employment tax. This tax applies to sole proprietors, independent contractors, members of a partnership, and owners of limited liability companies. Its purpose is to provide Social Security and Medicare coverage to self-employed taxpayers.

Citation

Siegel, William C. 1999. Figuring the Tax on Timberland Income. National Woodlands, Vol. 22, No. 1, Jan. 1999, pgs. 21-23