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Discussion in 'Homeowner Assistance Forum' started by Starbuy, Feb 27, 2012.
That's more the way I understand it....
Here's an interesting blog about the work that goes into removing Imprelis damaged trees at a golf course and this doesn't even include full soil and roots removal and full soil remediation (they only did stump grinding since courses have more space than most homeowner's lawns where there may not be room for replanting in areas where there aren't roots from the dead trees). See the slide show on that page. http://mccgcm.blogspot.com/2013/01/tree-maintenance-part-i.html
They said they need a minimum of 4-5 inches of frozen ground to avoid doing unacceptable damage to the course when the big equipment is brought in. What will our yards look like? Yikes.
Can't remember if I have read this one or not.
Did you call and verify it was necessary? The line asks for "Social Security or Tax ID No." but is underneath the Business Name line. I do not beleive the settlement will be taxable.
For the same reasons as stated by others, I do not believe that the settlement is going to be taxable.
If you are trying to imply that only those who settle with the CRA are going to be taxed, that would be completely wrong. If for some reason, the IRS does try to tax the settlement, they would tax all settlements, whether by CRA, Class Action Suit or by an individual suit. However, as I previously stated, I am quite confident that none of the settlements will be considered taxable income.
There were a lot of lines that had Business then skipped to where I (individual) had to continue. Vague but not confident with their government requirements.
Nobody would respond to my question...so I did my research online. It's all a crap shoot but I just found this online (Turbo Tax). Course of action will take place next year and will determine if these truly are taxable. Let's just say I don't trust that our government won't to try to get a piece somehow, someway.
" - Settlements for loss-of-use or loss-in-value of property may be taxable if the settlement exceeds your adjusted cost basis in the property.
Property settlements that are less than the adjusted basis of your property are not taxable and generally do not need to be reported on your tax return.
When property settlements exceed your adjusted basis in the property, the excess is gain. Gains on personal capital assets and business property are reported using these instructions below.
Dupont settlement states:
"Dupont will arrange for proper removal and disposal of these trees (trees in table #1 of agreement recommended for removal) by paying a tree removal company directly for this service on Owner's behalf."
The first settlement agreement I saw listed a "service" price for removal costs that was equivalent to almost twice what I was quoted to remove my trees by a local company. The company I contacted was one of Dupont's replacement tree companies. No "service" fee listed on my agreement, just the term stated above.
Dupont has offered to arrange for removal - any costs necessary to remove them will have to be part of the removal process and billed to them by their contractors. Owners are specifically written out of the removal process.
I might just have them shoot off a copy of the portion of the master deed indicating the affected area. I'm just trying to head off any problems ahead of time. I am sick that my LCO (Not blaming him) killed off one of the association trees and sickened a second due to spray from my lawn and feel the responsibility to help see them through the process.
Of course, I do share your mistrust of government. Some in our government are probably licking their chops over what's taking place in Cyprus.
I'm searching for a fact sheet or chart which defines variety of trees, average growth rates and how many years it takes before maturity. Of course, each area of the country has different growth rates due to northern climates getting a shortened growing season and therefore those trees may take longer to mature than areas with a longer growing season. I'm in the Great Lakes area (northeast Ohio), but not in a micro climate. If anyone can point me in the right direction I would appreciate it. Of course, this has to do with my Imprelis damage and that's why I posted in this section. Once all this toxic soil is removed from the property, I hope to one day be able to replant, but want to know how many years it will take before I get back what I lost in my landscape design and the look I once had.