Prescribed Fire

When an unexpected wildfire blazes through a property, it generally leaves behind the charred ashes of grass, trees, fences and possibly buildings. Landowners will immediately think of the loss in value the wildfire has created, but, in the eyes of the IRS, is there a deductible loss?

Fires in Oklahoma and Texas and record-low rainfall have caused many people who earn a living on the land to make decisions they have not faced in many years. Here are some items for producers to think about as they formulate drought-management plans