2007-11-17 06:11:24 · 4 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ Other - Taxes
We own the land...We don't want to avoid paying taxes, but would like to know if there are any other options of paying a lower tax on this sale.
2007-11-17 09:17:11 · update #1
You can only "legally" sell that which you "legally" own. Therefore I don't see how you would sell timber in the name of someone other than the owner. If you are a cash bases tax payer you would pay the tax in the year that you receive the money. It would be possible that you had some sort of contract of sale in which you are paid in another year than the harvest.
2007-11-17 06:23:42 · answer #1 · answered by ? 6 · 0⤊ 0⤋
If you're selling timber from someone else's land in LA, you're very likely to wind up on the bayou as 'gator bait. Ditto for mudbugs from someone else's pots.
2007-11-17 06:41:05 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 0⤋
No matter which of several ways I try to read your question the answer always comes out as some variation of No.
2007-11-17 07:30:59 · answer #3 · answered by Anonymous · 0⤊ 0⤋
No, you can not legally sell something that does not belong to you.
2007-11-17 06:20:58 · answer #4 · answered by Renne R 2 · 0⤊ 0⤋