A direct investment in oil and gas drilling program can be a smart move to reduce one’s overall tax burden. Instead of paying more taxes, money used for oil and gas investments provide a significant amount of write-offs while adding a consistent cash flow and return on your investment.
There are a number of tax benefits investors can receive then they choose to invest in oil and gas. Approximately 75% of the deductions are made in the first year as intangible drilling cost and the remaining would be deducted over time as the well depreciates.
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