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‘Save The Trees’: A Tax Deduction?

by | Jul 4, 2018 | Tax Planning

Hawaii rewards residents for taking care of their trees, so long as a certified arborist deems the tree “exceptional.”

Individuals can deduct up to $3,000 for the costs associated with maintaining “a tree with historic or cultural value or that, by reason of its age, rarity, location, size, esthetic quality, or endemic status, is worthy of preservation.”

To claim the deduction, you must attach a notarized statement from a certified arborist. The state is estimated to have more than 1,000 “exceptional” trees, although fewer than 300 are currently logged into the state registry.

“It is illegal not to tell the taxman anything you don’t want him to know, though you don’t have to tell him anything you don’t mind him knowing.” – U.K. Tax Avoidance Schemes Regulations