CAPITAL IDEAS -- LIVE!
OCTOBER 2021 News Conference for Forest Owners
Produced by the Alabama Forest Owners' Association, Inc.
This Conference was recorded at 10:00 AM Central Time on
Wednesday, October 13, 2021 with a live audience. If you would like to be a
member of the audience on the next program, call (205)
624-2225 to register.
Hayes D. Brown
starting time: (00:00)
Hayes D. Brown, attorney and forest owner, will moderate this news
conference. Hayes' email address is
Click Here to View & Hear Prior News Conferences.
Capital Ideas - Live!
is brought to you by
Forester Search, a web resource developed
by the Alabama Forest Owners' Association with the support of the
Bradley/Murphy Forestry & Natural Resources Extension Trust.
Potential Changes to Step-Up in Basis: Is
History Repeating Itself?
Watson is a Senior Policy Analyst at the
The Biden Administration has been vocal about wanting to make major tax
changes, including repealing the step-up in basis. Under current tax law, taxpayers pay taxes on capital gains when they sell an asset for a profit.
The current law also allows taxpayers to maintain assets with unrealized
capital gains and pass those along to heirs upon their death. When the
second scenario occurs, the asset's tax basis is "stepped up" to the fair market
value and the heir receiving the asset is not required to pay capital gains
tax. That's precisely what President Biden is aiming to change: he wants
capital gains tax to be paid regardless. In a recent
article, Garrett examined the history of attempts made to change the
step-up in basis and why it could prove to be a dangerous road. Garrett will
enlighten us on that interesting history and explain how an attempt to
change step-up in basis will greatly--and negatively--affect many forest owners.
Phone: (202) 464-6200
Why Are We Getting Illegal
Fire District Bills?
Jessica Little is manager of the Ad Valorem Tax Department at
Larson & McGowin.
Larson & McGowin represent many timber landowners in Alabama who are receiving tax bills
with fire district dues, despite the fact that legislation was passed to ban
the collection of fire district fees in rural areas for forest fire control.
State Senator Greg Albritton (R) of District #22 sponsored the legislation
(Senate Bill 282) two years ago, yet
several local property tax authorities are
ignoring the law, despite the law specifically stating that "the authority
and responsibility for the control and coordination of fire prevention, fire
protection and fire fighting services on land treated as timber land for ad
valorem tax purposes shall be under the jurisdiction of the Alabama Forestry
Commission." Jessica will speak with us about her experience and the
questions timber landowners should be asking.
Does your just-arrived property tax bill
contain an amount for fire district dues?
Phone: (251) 438-4581
Updates in Vegetation Management
Corey Craig is the CEO of
IVM Solutions and
IVM Forestry. An industry leader in chemical and mechanical
vegetation management solutions, IVM Solutions utilizes the latest
technology--including drones--to provide those much-needed services. Corey will join us to talk
about the ever-changing technology how it can help landowners, and what it
means to the industry.
Phone: (334) 877-1373
Squirrel Hunting --
Good for the Future
is a writer with
Great Days Outdoors. While deer hunting has long eclipsed
squirrel hunting as Alabama's most hunted game animal, squirrel hunting is a
fun opportunity to get outside and offers a much longer season to enjoy it.
The current squirrel season in Alabama begins September 11 and ends March 6.
In the October issue of Great Days Outdoors, David's article "How
to Hunt Squirrels" (page 8) shares helpful information about why squirrel hunting
is not only fun, but is a great way to get children interested in being
Phone: (205) 826-2126