Taxes (unpopular post I'm sure!)

Hi all -
This has been very informative, and I thank you all for your insights, information and scuttlebutt. I have a question, esp. aimed towards any cpas or tax lawyers out there. Is bonus income taxed as capital gains or straight income? There is a huge difference, of course. I believe we will receive a 1099 from the company, but I'm not sure. I have not received a 1099 from a company before, but this bonus is much larger than anything we've had in the past :-)
Thanks for any info and enjoy the Fourth -
Halifax

Tags: bonus, haynesville, tax, taxes

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Permalink Reply by Bo-Chris on July 24, 2008 at 9:46

The bonus income will be taxed as ordinary income, not capital gains

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Permalink Reply by Tim on July 24, 2008 at 10:00

You can also lessen the tax burden by giving to your Church or by donating to any non profit organazation

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Permalink Reply by Yogi Bear on July 17, 2011 at 11:25

Its not as capital gain, its taxed as ordinary income.

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GoHaynesvilleShale.com (GHS) was launched in 2008 during a pivotal moment in the energy industry, when the Haynesville Shale formation—a massive natural gas reserve lying beneath parts of northwest Louisiana, east Texas, and southwest Arkansas—was beginning to attract national attention. The website was the brainchild of Keith Mauck, a landowner and entrepreneur who recognized a pressing need: landowners in the region had little access to…

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About As exciting as this is, we know that we have a responsibility to do this thing correctly. After all, we want the farm to remain a place where the family can gather for another 80 years and beyond. This site was born out of these desires. Before we started this site, googling "shale' brought up little information. Certainly nothing that was useful as we negotiated a lease. Read More	Links About General Info Guidelines Supporters Donate Advertise Subscriptions Contact us

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As exciting as this is, we know that we have a responsibility to do this thing correctly. After all, we want the farm to remain a place where the family can gather for another 80 years and beyond. This site was born out of these desires. Before we started this site, googling "shale' brought up little information. Certainly nothing that was useful as we negotiated a lease. Read More

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