Comment

Comment by michael j belaj on October 23, 2011 at 1:52am

Steve  I just looked at the permit list and it looks like new pads Brookfield sec 28 979' NL & 369' WL. Have you heard any thing about the well they are drilling in Spencer ? Thanks Mike

Comment by Steven Gardner on October 23, 2011 at 1:49am

Anadarko%20Wells.pdf

Comment by Steven Gardner on October 23, 2011 at 1:41am

Mike, I see that they have three separate permits, Gue Spencer twp sec 19, Musk Meigs twp sec 14, Noble Brookfield twp sec 20 but I don't see how they could hit Noble Co from the Gue pad.. its 3 miles to the south. The Gue pad is along the Musk/Gue line but the map does not show the bore entering Musk. I have not found the actual permits posted yet on these three wells. Do you have other info on these?

Comment by Nelson Roe on October 22, 2011 at 9:53am

Well... Signed, Sealed & hopefully Delivered!  Now the next phase of "the waiting game" begins...  At least we are a step in the right direction!

Comment by Nelson Roe on October 20, 2011 at 4:09pm

Hey Philip,

I have been talking with Brian through PM & it sounds like he may actually be a good one to talk to when that time comes.

Comment by Philip Brutz on October 20, 2011 at 2:43pm

I am going to hire a good CPA and a good Certified Financial Planner.  We have done very well by hiring WKGD.  I am smart enough to know what I am good at and what I need to hire the pros for.  A mistake here could cost you dearly.

Comment by Brian Sutphin on October 20, 2011 at 2:00pm

Good Advice Anthony

Comment by Anthony Hunter on October 20, 2011 at 12:32pm

Hire a certified public accountant (CPA), and preferably one with an advanced degree in the area of taxation.  Some claim to be experts, but the one's with appropriate credentials really are. 

 

I would not rely on what your neighbor up the road says unless he/she is willing to represent you in tax court. 

 

Paying to meet with a CPA would be better than shelling out money for interest and penalties for not making tax payments on time according to the Internal Revenue Code, and less expensive too.  As the saying goes "an ounce of prevention is worth a pound of cure." 

Comment by John kamm on October 20, 2011 at 9:02am

It certainly makes sense to keep the balance of the potential tax liability in the bank or some other liquid account (no pun intended) but beware of the tax penalties - they can be substantial. Especially if it takes the IRS a year or two to conduct the audit and make a determination.

Comment by Jon Henderson on October 20, 2011 at 8:50am

As I understand it, and I could be wrong, you only have to pay 110% of whatever your previous years taxes were by December 31st of the year the money came in. Then you have until April of 2013 to pay the rest. Also, for certain talk to an accountant about your new found wealth. There are things that can be deducted depending on all the schedules that you currently fill out.

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