Stimulus Package Provides Potential Tax Savings For Miners

The American Recovery and Reinvestment Act of 2009, a nearly $800 billion stimulus package, includes nearly $300 billion in potential tax savings. Every prospector, miner and mining operator can share in over $75 billion in tax benefits for 2009 and 2010.

The Business of Mining—Home Office Tax Deduction

It is not just a few small-scale prospectors who use a home office. An increasing number of miners, prospectors, and mining-related business owners are operating at least a portion of their business from a home office.

New Tax Considerations For Your Mining Business

The recently passed Economic Stimulus Package of 2008 is a $168-billion economic “rescue” package that includes rebates for taxpayers and tax breaks for businesses. At the heart of the package are tax rebates, scheduled to be distributed beginning in early May. The tax breaks for small-scale mining operations and businesses are retroactive to the beginning of 2008.

The Business Of Mining: Profits, Losses, Hobbies and Businesses

Everyone can deduct all of the ordinary and necessary expenses of conducting a trade or business. But how can anyone hope to refute the IRS’s labeling of their activity as a hobby or, probably more importantly, hope to achieve the label of a tax business?

The Business of Mining—The Benefits of an S Corporation

Imagine the liability protection of a corporation and the pass-through tax benefits of a partnership in one entity for your mining or prospecting operation.