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Ali eyes oil and gas tax shelter gains
Sylvia Porter explains how the IRS ruling makes intangible drilling costs deductible in the year of investment. She details depreciation and depletion methods, using Muhammad Ali’s $100,000 oil deal as a example while noting risks and broker options.
MENTIONED IN THIS ARTICLE
New York
Muhammad Ali
Internal Revenue Service
Ali
IRS
Prentice- Hall
Prentice-Hall
Drilling Co
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Say Ali