Monday, June 27, 2022

Intangible Drilling Costs

Accounting Services For Small Businesses –  Costs of developing oil, gas, or geothermal wells may be deducted currently by election, or capitalized and recovered through depreciation or depletion. An AMT adjustment is required if costs are not amortized over 60 months.

Need More Information?

ABA Tax Accounting

Amare Berhie, Enrolled Agent

Licensed by the IRS

amare@abataxaccounting.com

651-300-4777

 

https://www.abataxaccounting.com/smallbiz.php

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