MRP 59: Alternate Valuation Dates with Rob Prentice
The Mineral Rights Podcast: Mineral Rights | Royalties | Oil and Gas | Matt Sands
Audio is streamed directly from the publisher (traffic.libsyn.com) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.
Show Notes
One way to make the most of our minerals and royalties is to make sure that we are making the right decisions to minimize tax liability. I'm not talking about skipping out on your taxes but by making sure that you are taking the right deductions and credits or by leveraging an alternate date when valuing your property for estate tax purposes. And that is what we are going to talk about today - using the alternate valuation date when it comes to estate taxes. To cover this sometimes overlooked concept, I brought back Rob Prentice with Turrett LLC. As you may remember, Rob appeared on Episode 32 of the Mineral Rights Podcast to talk about IRS mineral valuations for the purposes of setting a step-up in cost basis.