Replies to This Discussion

Permalink Reply by Snake Stewart on August 18, 2008 at 13:22

All I got was a shoulder shrug from a co-worker that through his name in the hat.

Permalink Reply by Snake Stewart on August 18, 2008 at 14:36

through , threw his name in the hat.

Permalink Reply by landleaser on August 18, 2008 at 14:51

I was gonna let it slide.. :-)

Permalink Reply by Korie B2 on August 18, 2008 at 14:32

I heard not until tuesady (8/19)

Permalink Reply by George Cox on August 18, 2008 at 15:12

Does any one know how much of Ron Blacks taxes you are going to pay For him?

Permalink Reply by George Cox on August 18, 2008 at 15:19

What I mean is, If you are given a check for your lease bonus and then turn
arround and give him a check for his 5% then you are going to have to pay
taxes onthe whole of the bonus plus his 5% because you received a check
in your name for the amount.

Permalink Reply by Tim on August 18, 2008 at 15:39

You can deduct his 5% because he rendered a service. Now on the other hand some of these people that are getting 5% to do it and the company cuts them a check, then the company will deduct it because they paid them.

Permalink Reply by George Cox on August 18, 2008 at 15:51

I understand that this money is classified income because it is a lease. In this case with a sizeable amount will this 5% service be enough to overcome the adjusted gross income of the usually average tax payer so it can be used for a deduction? It looks scarey to me. I am just analizing the situation.

Permalink Reply by Tim on August 18, 2008 at 15:56

I can't answer that for you. In my situation I own a small business so we already itemize. You need to run that by a CPA.

Permalink Reply by George Cox on August 18, 2008 at 16:10

I did she said theres no hope just dig deeper in your pocket or hold more back
I am ready for them to start talking about the rest of it (land that is). I have been told that we in townships 19 and 20 west
of dorcheat and south of the Cotton Valley field are sitting in
a real good area (several sources)

Permalink Reply by Tim on August 18, 2008 at 16:16

I've been told that we are in a really good area also. I 'm not trying to get into you business but make sure the CPA that you are using knows this field. I was using a CPA once that told me I couldn't deduct certain things that pertained to my business and I knew better, I had one hell of a tax bill according to his calculations, I took the taxes to another CPA that knew the field and wipe out most of what he said that I owned in a couple of minutes.

Permalink Reply by George Cox on August 18, 2008 at 16:29

I got a good one that was highly recomended. She is in a firm that will also help out.hopefully i'm covered.

• ‹ Previous
• 1
• 2
• Next ›
• Page