The Business of Mining—Family Mining Business Tax Savings
April 2007 by Mark E. BattersbyThere has been much said and written about nepotism, especially in government and business. There is, however, no written rule that would prevent any miner or prospector from hiring a spouse, children or other family members in the prospecting, mining or dredging business. There may even be tax advantages associated with that nepotism.
I don’t know of any miner or prospector who really wants to sell their gold. But the income might be needed to keep the mine going, buy new equipment, take a vacation or put food on the table. Whatever the reason, where does a person start?
On our fourth trip, we finally reached the top edge of the old hydraulic pit, and it was monstrous.
Successful miners report that the Peshastin’s gold is unusually course and most of the recovered nuggets are small pickers. Flood gold is prevalent here and easy to find and recover on the Peshastin.
• By the numbers...
• Railway plan is a bit off track
The Bawl Mill • Ask the Experts—How do I remove gold from black sands? • Ask the Experts—How did the bill to address RS 2477 pan out? • Ask the Experts—How can I separate gold from carbon? • Wild and Scenic Rivers Act (P.L. 90-542, as Amended) • Platinum Placers and Nuggets • In Pursuit of Gold & Silver in the Sierra Madres—The Tejeda Mines • Successful Nugget Hunting • Oregon Miners Update • The Prevleator • Mining Boom Is Back In Northern Nevada • Lease Issued For Potential Mine Near Mount St. Helens • Looking Back • Melman on Gold & Silver • Mining Stock Quotes and Mineral & Metal Prices