Ad Astra Radio Family Brands

Little-known tax benefit helps Christmas tree growers

SHARE NOW

An accountant says many Christmas tree growers could be saving a lot of money at tax time.

Andrew Bosserman is a Certified Public Accountant who has also owned a tree farm.  He tells Brownfield Christmas tree growers should seriously consider counting tree sales as capital gains income instead of ordinary income to save on taxes. “Ordinary income, those are the rates you generally hear in the news but they range from 10-37 percent, whereas capital gains are zero to 20 percent, and actually, most people will pay about 15 percent.”

Bosserman says there’s another area of savings by using the capital gains schedule.

Little-known tax benefit helps Christmas tree growers