Topics 5 -7:

 

Topic 5: Setting Realistic Goals/Objectives and Establishing a Management Plan

 

Forestry 101: Woodland Management Plans (YouTube) New 2022 resource

Types of Management Plans

Forest Management Planning

Backyard Woods: Bring your vision to life

Walk Your Woods with Your Local Forester

How can I prepare for a walk in my woods with a forester?

Forest Management Plan (FMP) -USDA/NRCS

Wisconsin’s Forests: The Private Landowners Handbook – SFI

The Forest Overstory Episode 002 – Ken Bevis (Podcast)– discussion around woodland owner’s common management goals for creation of a management plan. NEW 2022 resource

Elements of a Management Plan – Forest*A*SYST

 

Cost-share Opportunities / MFL Resources:

Wisconsin’s Managed Forest Law: a landowner’s guide to professional resources

Wisconsin’s Managed Forest Law: a program summary

Non-Industrial Private Forest Owners Financial and Technical Assistance – NRCS

 

Welcome Packet Publications: 

  • Planning roads and trails for your woods (pamphlet)
  • Forestry Facts (all)

Review documents from Topic 3: Sources of Professional Advice and Financial Assistance and Topic 4: Assessing Your Woodlands. All of these topics go into establishing a management plan and will help you set realistic goals. 

 

Discussion Questions:

  • Once you have assessed what is on your land, what would you like it to look like in 10, 25 or 50 years?
  • How do you plan to use your woodlands in the future?
  • What are your specific objectives: investment, timber production, recreation, aesthetics, activities for kids and grandkids, mushroom hunting, wildlife watching/hunting, educational tours, agro-tourism, etc.?
  • What are the goals you wish to achieve? How long will it take (time frame)? What is your estimated budget for implementation? (Share this information with the professional that will walk your woodlands.)
  • Which type of management plan is right for you at this time – practice, stewardship or MFL?
  • Will you need cost sharing to cover the cost of creating the plan of your choice? (If yes, review the various programs available and the applications.)
  • Have you scheduled ad walk-through with a natural resource professional, forester or certified plan writer? (A free walk-through by a WIDNR Integrated Forester can be arranged, if you are not enrolled in MFL and are not working with a forester. Visit WWOA’s webpage to schedule.)

 

Topic 6: Other Forest Benefits

 

Wildlife & Habitat Benefits:

 

Non-timber Forest Products:

 

Forest Aesthetics / Cultural Resources:

 

Family Resources / Heath Benefits:

 

Recreational Construction: 

 

Welcome Package Publications:

  • Healthy Forests, Healthy People / 10 Fun Family Activities in Nature
  • Woodland Visions – Appreciating and Managing Forests for Scenic Beauty
  • Managing Wisconsin’s Forested Shorelands – a landowner’s guide (pamphlet)
  • Planning roads and trails for your Woods (pamphlet)

 

Discussion Questions:

  • How important is it to you and your family to have a place to get away?
  • How important is aesthetic/scenic beauty important to you on your land?
  • Which forest benefits to you utilize on your land (wildlife, scenic, health, family, recreational)?
  • What wildlife would you like to see more of on your property? Have you created a wildlife plan? Would this be helpful for your forest goals?
  • What food resources does your land provide (fruit trees, nut trees, berries, mushrooms, asparagus, etc.)?
  • Does your woodland have water features? How do you protect and enhance these features?
  • Do you hunt on your land? Would you like to enhance or diversify hunting opportunities on your land?
  • Do you take advantage of the specialty forest products on your land (birch poles, burls, pinecones, mosses)?
  • Do you have a cabin, cottage, or home on your property? What is difficult about building or maintaining a building on your land (water, septic, electricity, etc.)?
  • Do you or would you like to produce other non-timber products (Christmas trees, maple syrup, honey, selling seeds to nurseries, mosses, etc.)?
  • Do you have trails on your property? How did you go about building these trails?

 

Topic 7: Tax Consequences of Owning, Operating, and Transferring Woodlands

 

2022 Guide for Property Owners

2022 Agricultural Assessment Guide for Wisconsin Property Owners

Tax Tips for Forest Landowners for the 2022 Tax Year

WI Sales and Use Tax Exemption Certificate – Form S-211– Silviculture exemption is under farming. 

Forestry Facts #71: Determining Your Basis and Keep More Timber Income

 

2016 or Older: Tax rates, forms, and other details may have changed, but the content is still useful.

Federal Income Tax on Timber: A Quick Guide for Woodland Owners – 2012

Forestry Facts #16: Casualties, Thefts and Involuntary Conversions: Some Income Tax Tips for Woodland Owners – 2001

Forest Landowners’ Guide to the Federal Income Tax – 2013

Make Sure Your Land is Properly Classified – 2016

Taxes for Woodland Owners

 

Webpage links:

WDNR – Forest Tax Laws

WDNR – Forest Tax Rates

USFS – National Timber Tax Website

WWOA – Landowner Tax Assistance

USFS – Forest Taxation and Estate Planning

DOR – Agricultural Forest and Undeveloped Land – Qualifying Parcels

National Timber Tax Education Series

 

Discussion Questions:
  • Have you looked at your tax bill to see how your property is taxed?
  • Do you know how the assessor has classified your woodland property? (see article Make Sure Your Land is Properly Classified)
  • When you obtained your property did you calculate your basis? (see Forestry Facts #71)
  • Have you determined how you are going to treat your woodland property related income and expenses for IRS tax purposes?
  • Do you have other state or federal tax concerns related to owning woodlands?

 

Keep an eye out for an email from us about our upcoming Timber Tax Seminar! It will be held online and is free of charge. Check out the Timber Tax Seminar Handout (note there are 78 slides) from last year’s presentation, as well as the supplemental links and forms below.

Site Index Curves for Wisconsin timber
Stand Density
Growth and Yield Tables for Jack Pine
Establishing Your Timber Tax Basis

IRS Tax Forms
1040 Schedule A – Itemized Deductions
1040 Schedule C – Profit or Loss from Business 
1040 Schedule D – Capital Gains & Losses
1041 Return for Estates and Trusts
1065 Return of Partnership Income
1099-S Proceeds from Real Estate Transactions
1120 Corporation Income Tax
4562 Depreciation & Amortization
4684 Casualties & Thefts
4797 Sale of Business Property
8949 Sales and Other Dispositions of Capital Assets
Form T Forest Activities Schedule