Oil Well Deductions Can Shelter 80% of Your Investment in Year One andHere’s the Tax Code That Allows It
From the article
If you’re a high earner, your CPA has probably never mentioned this one out loud: buying a direct working interest in a domestic oil and gas well can hand you a first-year write-off that tops 80% of the check you wrote. This deduction has been baked into the tax code since 1913, and wealthy investors ... Oil Well Deductions Can Shelter 80% of Your Investment in Year One andHere’s the Tax Code That Allows It
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