"My quick answer is usually 1/3 of the bonus amount. A lease bonus is taxable as ordinary income. There is much more to the answer though that involves estimating your taxes and all of your income for the year, potential tax planning…"
Jeffrey Yourkovich CPA, CGMA is the owner and sole proprietor of Yourkovich & Associates, a CPA practice with an office in Wheeling, West Virginia. This year is my 23rd year in private practice. Including our predecessor firms, we have served the Ohio Valley for over forty-five years. Our firm specializes in individual and business taxation, tax planning and tax return preparation, business consulting and start-up, bookkeeping, payroll taxes, IRS representation, gas and oil taxation issues and financial services. We serve a diverse business clientele including contractors, retailers, farmers, convenience stores, taverns and restaurants, supply companies, service industry companies and a variety of other mom and pop businesses. We provide individual tax planning and tax return preparation for over seven hundred clients. I have successfully prepared over 16,000 tax returns during my CPA practice.
What makes this site so great? Well, I think it's the fact that, quite frankly, we all have a lot at stake in this thing they call shale. But beyond that, this site is made up of individuals who have worked hard for that little yard we call home. Or, that farm on which blood, sweat and tears have fallen.[ Read More ]