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New Home Office Deduction for Tax Year 2013

New Home Office Deduction for Tax Year 2013
On Tuesday the IRS announced a simplified method to calculate the home office deduction, which may be of interest to you independent landmen that do your own taxes.  As many of you know, the current incarnation of the home office deduction is one of the most audited items for those who are self employed.  It has a lot of rules, measurements, and a little bit of voodoo involved in the calculation.  For those of you that have learned the “voodoo method”, it will still be available to use.  The new method will be a another option available. Simply, starting in ...

Don’t Sell Your Clients Work!

Don't Sell Your Clients Work!
So there has been some trouble brewing after a company bought a booth at Summer NAPE and advertised that they were brokering the sale of title information in certain shale plays.  As you might imagine, that ruffled a few feathers. So some questions started getting thrown around to different operators and attorneys:  In what world does a field landman own the title data he compiles on behalf of his client?  The answer:  In lala-land!  So one might wonder how this ‘title broker’ felt he could get around the legal entanglement of selling other companies data without compensating them.  He simply ...

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