THE MOST FREQUENTLY ASKED QUESTION. . . AND ANSWERS REGARDING TAX BENEFITS OF OIL AND GAS DRILLING PROGRAMS

What type of information do you receive from John Henry Petroleum to show you how to claim your tax deductions from investing in our drilling programs?
What IRS tax code determines if your investment in our drilling programs is tax deductible?
Can individuals reduce their income from other sources with deductions generated by our ventures that own oil and gas working interests?
What are some of the tax deductions from our oil and gas drilling programs?
What other deductions are generated by our oil and gas drilling ventures?
What are Intangible Drilling Costs (IDC)?
How do Intangible Drilling Costs (IDC) produce tax benefits for our ventures?
Can I deduct depreciation on tangible items purchased to equip an oil or gas well?
What is “depletion” and how does it reduce or defer a venturer’s taxes?
What is the difference between cost depletion and percentage depletion?