Domestic natural gas production rates in the United States have reached all-time highs, so much so that importation of this non-renewable resource as well as oil may soon be non-existent. There is a prevailing belief that the bulk of America’s energy needs are being met by external resources, a falsity which strikes uncertainty in the minds of many for various political and economic reasons.
Contrary to popular belief, the U.S. has already demonstrated its ability to be a natural gas production global powerhouse, and many industry experts agree it could soon be the world’s top exporter. The United States’ domestic economy has grown significantly on account of these operations alone, north of $500 billion by some estimates!
The pervading perception that the domestic oil and natural gas economy is currently in a state of flux could not be farther from the truth, and here is why. Continue reading →
Individuals who are interested in investing and are currently struggling to find a market that will provide a healthy ROI from the outset may want to consider oil drilling programs. Uncle Sam is more than forgiving to investors willing to put their hard-earned income into this industry as he is rewarding those that do with sizable tax breaks.
The United States government has emphasized increased domestic energy production for many years now, particularly in the wake of threats to international oil reserves and supplies. Everyone from private individuals to oil and gas investment companies is benefiting from these modern-day tax incentives. If you have ever wanted to invest, this is the time and place to do it! Continue reading →
HOUSTON, Dec. 16, 2013 /PRNewswire/ – With the year-end fast approaching, many investors are looking for the best possible oil and gas investment opportunities. Fossil Oil Company, LLC offers some of the most lucrative oil and gas investment opportunities available.
There are many kinds of oil and gas investment vehicles available, all of which involve a degree of risk/reward and the management of that risk. Among these are stocks, bonds and options in oil and gas companies; commodity contracts in oil and gas activities, and limited partnerships.
In all of these vehicles, the investor is dependent on the overall success of the group or company, rather than the production of the well in which he or she is investing.
Because it is by far the most attractive investment opportunity for its partners, Fossil Oil Co. LLC, utilizes the Joint Venture exclusively to fund and manage its oil and gas drilling opportunities. Continue reading →
Fossil Oil Company, LLC of Houston, Texas perforated and tested the Bandit Prospect #1 well on January 7th, 2013. This deep 15,000’ Cook Mountain (Yegua Sand) formation tested on a conservative 7/64th choke 140 Barrels of Condensate and 1.3 Million Cubic Feet of Gas. Currently, the Operator is preparing to construct the production facility (tank batteries) and pipeline hook-up to Duke Energy’s interstate pipeline system. Congratultions to the investors that are in this oil & gas investment.
Many key federal tax rules affecting individuals will “sunset” at the end of 2012 unless Congress acts otherwise to extend or permanently enact those provisions. As year-end is approaching quickly, it is wise to be aware of what to expect in 2013, absent further legislation.
Key tax law changes affecting individuals beginning in 2013 if prior laws’ sunsets go into effect:
- Ordinary income-tax brackets – The 10% bracket goes away, with the lowest bracket being 15%. The size of the 15% bracket for married individuals filing a joint return will be less (167%) than twice the size of the 15% bracket for individual filers, as it is currently. The top four brackets rise from 25%, 28%, 33%, and 35% to 28%, 31%, 36%, and 39.6%, respectively.
- Taxation of capital gains and qualified dividends – Generally, long-term capital gains will be taxed at a maximum rate of 20%, an increase from 15%, for higher bracket taxpayers. A 10% rate applies to individuals in the 15% tax bracket. Qualified dividends will be taxed at ordinary income-tax rates (up to 39.6%), as opposed to receiving capital gain treatment, as under current law.
- Reduction in itemized deductions – For higher income individuals, most itemized deductions will be reduced by 3% of adjusted gross income (AGI) above an inflation-adjusted threshold. Reduction cannot exceed 80% of the amount of itemized deductions otherwise allowable.