Tag: tax provision

Tax Code, Regulations and Guidance

What Is Percentage Depletion for Taxes?

January 24, 2023

Via: Fit Small Business

Percentage depletion is a tax provision that helps independent producers and royalty owners account for the reduction of a nonrenewable mineral resource, such as oil, gold, and iron, and to recover the associated cost. Another option for depletion is the […]

Tax Code, Regulations and Guidance

Benefits Received Rule

June 14, 2018

Via: Investopedia

What is the ‘Benefits Received Rule’ The Benefits Received Rule actually has two related definitions, one as a tax theory and one as a tax provision. The two definitions are: 1. The Benefits Received Principle, which is a theory of […]