We cannot legally make a recommendation unless you are a client that has engaged us. Please reach out! www.cunninghamlegal.com/california-law-offices/contact/
It seems like one of the main benefits of investing in oil/gas is for the 15% tax savings which is valuable for families with a high W2 income (over $730k?). Are the returns worth it for a W2 family making under $383,900 (24% federal tax bracket)
We can not comment on individuals tax needs or specific W2 income, your overall tax and financial plan is personal and would require analysis to make a recommendation. There are two tax incentives with oil and gas 1) the upfront IDC deduction which ranges from 80-90% over 1-2 years depending on the investment and 2) the depletion allowance of 15% on the income.
Solid info on oil and gas investments-definitely something to consider for tax savings. I’ve been dabbling with different investment strategies and just started exploring a crypto IRA with My Digital Money. Anyone here tried that? It seems like a good way to diversify, but I’m curious about what others think.
We are doing another webinar this week on oil and gas. You should join us!: www.cunninghamlegal.com/maximizing-tax-incentives-qualified-opportunity-zones-and-oil-gas-investments/
FYI - looking forward to next week's estate planning for high school/college students
Thank you! Don't forget to register: www.cunninghamlegal.com/estate-planning-for-college-students-and-high-school-graduates/
Very Good WOW
Thank you!
Do you recommend specific Direct Participation Programs to invest in? Ones with reputable track record?
We cannot legally make a recommendation unless you are a client that has engaged us. Please reach out! www.cunninghamlegal.com/california-law-offices/contact/
It seems like one of the main benefits of investing in oil/gas is for the 15% tax savings which is valuable for families with a high W2 income (over $730k?). Are the returns worth it for a W2 family making under $383,900 (24% federal tax bracket)
We can not comment on individuals tax needs or specific W2 income, your overall tax and financial plan is personal and would require analysis to make a recommendation. There are two tax incentives with oil and gas 1) the upfront IDC deduction which ranges from 80-90% over 1-2 years depending on the investment and 2) the depletion allowance of 15% on the income.
Solid info on oil and gas investments-definitely something to consider for tax savings. I’ve been dabbling with different investment strategies and just started exploring a crypto IRA with My Digital Money. Anyone here tried that? It seems like a good way to diversify, but I’m curious about what others think.
We are doing another webinar this week on oil and gas. You should join us!: www.cunninghamlegal.com/maximizing-tax-incentives-qualified-opportunity-zones-and-oil-gas-investments/