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.
When Spaniards entered what is now Arizona, they encountered diggings made by Opata Indians. The Opata Indians, who now live and mine in the northeastern part of the state of Sonora, Mexico, were one of the few Indian tribes that was...
For those who have the courage and resources to challenge the environmental opposition, I’d like to bring to their attention a potential new mining district in Montana that was suggested by an exploration project of The Bunker Hill Company about 30 years ago. I have no financial interest in the property or its future but feel the story should be told so that future generations might benefit from the mineral potential.
Excerpts from California Mining Journal, our original title, published 50 years ago this month.
Most importantly, self-employed miners, prospectors or employees (even of their own mining-related business) who own or lease an automobile, can utilize the standard rate so long as they operate only one car at a time for business purposes.
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• Cap and trade passes House
• EPA to address bonding
• Clean Water Restoration Act
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