Is there a tax write off for investing in an energy exploration company? I have a client who tells me there is and I am not finding anything.
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Is he talking about writing off
Intangible drilling cost? I see those pop up every so often. Big write off in the first year then little dribbles of income thereafter.In other words, a democratic government is the only one in which those who vote for a tax can escape the obligation to pay it.
Alexis de Tocqueville -
Drilling cost, yes,
Thanks for your help.
Client says she bought into this drilling company (ICON) (2007) and has since found out they are not doing what they said. She is working with an attorney at this time to try to recoup her investment. I recommended we see what the outcome is - if she gets her money back or what and then amend if we need to. Wouldn't we need more information from the company also in order to write off her investment. I am curious now as to how this works - if you have time to help me out with this - Thanks.Comment
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