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.
Beneath the rolling fairways and manicured greens of a sedate golf course community in Cabarrus County, North Carolina, lie the 600-foot deep, water filled, caved workings of the once famous Phoenix Gold Mine.
Basic Geology for the Independent Miner—Part II Recognizing and Understanding Rock Formations (Petrology)
Rocks are an aggregate formed from the accumulation of minerals. Minerals form under various conditions, and when the minerals come together in mass, they form rocks.
Epithermal deposits form in the ground at shallow depths. They are popular with prospectors because can yield very rich deposits and they are widespread in the Western US.
Arizona-based International Silver Inc. is proposing an underground silver and zinc mine in Montana and has asked Butte-Silver Bow County to lease them the surface and mineral rights to hundreds of acres.
Last month I wrote an article entitled “Good Assays and Bad,” which gathered a few comments.
• Trash full of cash
• Auditors audit the auditors
• I smell bacon
The Bawl Mill • Ask the Experts—Where can I find plans for a home-built suction dredge? • Ask The Experts—Can you help explain the ratings in Melman On Gold & Silver? • Recovering Values from Black Sands • Typhoon Exploration—Junior Mining Company Moves Forward in Quebec • Kalgoorlie, Australia—Born of Gold • Colorado Court Rules on Cyanide Ban • Selling Your Gold—Where To Start • Exploration, Development and Taxes • US v. Donald Eno—IBLA Rules in Favor of Miner • Miners Clean Washington Rivers and Streams • Melman on Gold & Silver • Mining Stock Quotes, Mineral & Metal Prices • Looking Back