The Business of Mines—Consider Your Tax Deductions Now
May 2007 by Mark E. BattersbyUncle Sam, the not-so-silent partner of every miner, dredger and prospector is willing, using our tax laws, to help reduce out-of-pocket expenditures necessary to acquire business assets and property. In addition to the well-known depreciation deduction, however, the tax laws permit tax write-offs for other, less tangible business assets. The best time to explore and lock-in many of these overlooked and misunderstood deductions is now, well before the end of the tax year.
On a similar vein, while the number of new non-farm jobs created rose by a modest 156,000 in September, it must be pointed out that Goods Production Payrolls rose by only 10,000 jobs while much lower paying service jobs accounted for the other 146,000.
• Where would I find a map for the Western states on high silica sand deposits?
While most small-scale prospectors and miners focus their energies on placer deposits, most large mining companies put their efforts primarily into hard rock mining. Although many miners may see these as two separate worlds that can never meet, a better understanding of hard rock mining for small operators can be very helpful in many ways.
Michigan Bluff is an old mining town dating back to the 1850s. It is located in Placer County, about 25 miles northeast of Auburn, just past the town of Foresthill. It sits on the very edge of a mountain, with the Middle Fork of the American River flowing about 1200 feet lower at the bottom of the canyon.
• "The general public must be informed..."
• "Bring Carolyn back."
• "...when people see my copy they always want to borrow it."
Geology books are best used by geologists, but many of the old-time books can be understood by most anyone who has an interest in rocks and minerals. Certain words or phrases may stump the layman, but just skip those parts and go on to the portions of the books that are easily understood. Some of the old-time mining geology books should be in every small miner’s collection.
Just three weeks ago one of our prospecting team members decided to go back to this location on his own. He had a new detector and wanted to try it out some.
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