12.10.25 BOA Agenda Packet - Laserfiche WebLink

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169 There are also substantial Federal Tax Incentives for Reforestation that can further reduce the amount of your reforestation investment. Contact us as soon as cutting is finished. Delaying can raise the cost of reforestation substantially. Federal Tax Incentives for Reforestation Up to $10,000 of qualifying reforestation expense may be taken as a federal tax deduction in the year that the reforestation expenses are incurred. Any additional reforestation expenses (with no limit) can be amortized over the next 84 months as additional federal tax deductions. The proper use of these tax incentives can greatly reduce the total amount of your forestry investment. Be sure to mention these incentives to your accountant. Also, see this web site: http://www.timbertax.org/ Keep in mind that all cost-share payments are "income" and you will receive a Federal 1099 in January of the following year. You will have to pay income tax on any cost- share payment unless you elect the option to exclude these reforestation cost-share payments from taxable income (IRS Code Section 126). However, if you chose to do this, you will not be able to count the cost-shared portion of your reforestation expense toward the Reforestation Tax Deductions mentioned above. Boundary Line Maintenance and Landowner Liability It is important that you maintain the boundary line around your property. I have enclosed a brochure entitled"Woodland Owner Notes: Maintaining Forest Property Boundaries." It is also important that you understand your obligation to those who have permission to use your land as well as anyone trespassing on your land. Please refer to the enclosed brochure entitled "Woodland Owner Notes: Land Ownership, Liability, and the Law in North Carolina." A great way for the students to learn more about wildlife, ecosystems, and permaculture would be getting involved in a few citizen science projects that are sponsored by conservation agencies. Below are a few projects that may be of interest to you: o Dragonfly Pond Watch Program (The Xerces Society): http://www.xerces.or dragonfly-mi rag tion/pondwatch/ a Bumble Bee Watch (The Xerces Society): http://www.xerces.orgibumble- bee-watch/ o The Great Backyard Bird Count (The Cornell Lab of Ornithology, National Audubon Society, Bird Studies Canada): http://gbbe.birdeount.org/ o Christmas Bird Count(National Audubon Society): http:/ibirds.audubon.org/christmas-bird-co-unt o Hummingbirds at Home (National Audubon Society): hftp://www.hummingbirdsathome.orv,/ o NestWatch (The Cornell Lab of Ornithology): http://nestwatch.or�/ 16