FBI Farms has announced a program that allows individual tax payers to purchase a minimum of Five Thousand (5,000) Jatropha trees for Three Dollars a tree ($3.00.00) totaling Fifteen Thousand Dollars ($15,000.00)
This program lets the average individual take advantage of tax dollars that are earmarked for the Treasury and put them to use in a constructive and profitable manner. Says Michael P. Reardon of FBI Farms
Its simple qualified reforestation expenses are the direct expenditures paid to establish commercial stands of timber. Qualified expenses include those for site preparation, seeds, or seedlings, paid labor, tools, herbicide, depreciation on equipment used in the planting or seeding, and any other costs required to reestablish timber stands after a harvest, or to establish stands on land that was previously not forested. These expenditures are reported in the year the expenditures are incurred, regardless of when the activity is carried out. For cash basis tax payers and expenditure is incurred in the year in which it is actually paid.
A maximum of $10,000 per year of qualified reforestation expenses (or forestation in the case of planting or seeding of non-forest land) which usually must be capitalized to a deferred reforestation account, qualify for deduction as a business or investment expense. The amount of expenditure over $10,000 may be amortized over an 84-month period. There is no limit on the amount that can be amortized.
For more information please visit there website www.farmingbiodiesel.com
