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.
Down, down, down I plummeted into the narrow granite chute. In a matter of a few seconds, I envisioned myself lying crumpled in a field of mammoth, sharp, jagged granite rocks. In those few seconds, my thoughts also imagined my life ebbing...
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