Special Rules for Depreciation in the Oil and Gas Arena:

• MACRS rules;
• Section 179 expensing;
• Legal Consulting regarding Bonus depreciation;
• Election to accelerate credits in lieu of bonus depreciation;
• Qualified property;
• Legal Consulting regarding Disaster relief provisions;
• Election to deduct qualified capital costs for small refiners;
• Election to expense certain refinery property;
• Units of production;
• Gas gathering lines; and
• Capitalization rules under 263
• Gardner Law Firm with two Texas locations is available to serve you in Dallas, Fort Worth, Richardson or Tyler. Call or email today.