Liz Menchaca

Background

About Liz Menchaca

http://slpetroleum.com S&L Petroleum, LLC Providing IRS studies for mineral interest, value, basis and cost depletion Lease Bonus- Cost Depletion Analysis. If you received a lease bonus, we can establish the tax basis for these minerals perhaps allowing you a cost depletion deduction which may lower your income tax. Royalty Payments- Cost Depletion Analysis. If you are receiving royalties, a cost depletion study may result in a larger tax deduction. Sale of Your Mineral Interest – Establishing Tax Basis. If you have SOLD all or part of your mineral interest, establishing your original basis may entitle you to a deduction which could lower your income tax. Often times the basis for a mineral interest is not a component of the sale. We provide the necessary analysis required by IRS regulations 1.611-2(b)(1), 1.611-3(3)-3(e)(1), 1.611-2(d)-2(d)(1)-2(d)(2)-2(e)-2(e)(1)-2(e)(2)-2(e)(3)-2(e)(4) for submission by your tax preparer. A 3 year statute of limitations may apply Our fees are based upon standard billing rate Let us work with your tax professional!