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?
Amare Berhie, Enrolled Agent
Licensed
by the IRS
amare@abataxaccounting.com
651-300-4777
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