!Are you tired of high taxes eating into your hard-earned income? It’s time to take control and explore the world of oil and gas investments – your path to substantial tax savings. Let’s dive into the details:
Imagine investing $100,000 in oil and gas. Here’s how it translates into tax benefits with a tax rate of 39%.
- Tax Deductions:
- Intangible Drilling Costs (IDCs): $85,000
- Tangible Drilling Costs (TDCs): $15,000
- Intangible Completion Costs (ICCs): $15,000
- Tax Savings (at a 39% tax rate):
- A whopping $39,000!
- Depreciation of Assets:
- Recovered over 7 years
- Depletion Allowance:
- Shield 15% of well production income
- Lease Operating Expenses:
- Deductible standard business expenses
No matter your income level, these tax advantages are within reach.
Take action now and schedule a personalized Tax Savings Assessment here. Discover how oil and gas investments can help you slash your tax bill and secure your financial future.