Michigan Forest Association Presents: Landowner Workshop "Deducting a Timber Casualty Loss From Federal Income Tax"

Description

In the wake of the damaging ice storms that struck Michigan’s northern Lower Peninsula in late March and early April 2025, many forest landowners are facing the difficult reality of storm-damaged timber. 

If your timber stand has suffered significant loss, you may be eligible to claim a timber casualty loss on your taxes. This is a complex but potentially valuable option for mitigating the financial impact of losing growing timber. 

To support affected landowners, the Michigan Forest Association is holding a hands-on workshop that will offer attendees the resources to identify and manage the overload of stress caused by the situation and demystify the process of claiming a timber casualty loss on federal income taxes. 

Dr. Remington Rice, an MSU Extension Educator, will lead a presentation on "Logging Off Stress" and a discussion among attendees on strategies to identify and manage stress. 

Dr. Karen Potter-Witter is a Professor of Forest Economics in the Michigan State University Department of Forestry. She will walk participants through real-world examples, explain the elements of the loss calculation, and provide each attendee with a practical takeaway: a usable checklist of the records, documents, and data you will need to gather to be ready when tax time arrives.

Link to register found HERE!