Penn State Ag Sciences Newsline -- January 27, 2009
If you're part of Pennsylvania's natural-gas boom, you may need extra tax help (:49)
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Suggested Intro:
AS TAX SEASON DRAWS CLOSER, A FEW LUCKY PENNSYLVANIANS WILL BE PAYING TAXES ON THE NATURAL-GAS LEASE INCOME THEY RECEIVED LAST YEAR. A SPECIALIST IN PENN STATE'S COLLEGE OF AGRICULTURAL SCIENCES IS ADVISING LANDOWNERS TO GET EXPERT HELP TO MINIMIZE THE TAX BITE. MORE FROM GARY ABDULLAH:
Story:
(:18) THE NATURAL-GAS RUSH IN PENNSYLVANIA'S MARCELLUS SHALE REGION HAS RESULTED IN SOME LANDOWNERS GETTING WINDFALLS FROM SIGNING GAS LEASES. ROBIN KULECK, A CONSUMER-FINANCE EDUCATOR WITH PENN STATE COOPERATIVE EXTENSION, SAYS MANAGING THAT TAX LIABILITY TAKES MORE THAN A TRIP TO THE LOCAL TAX-PREP FRANCHISE:
Kuleck Actuality:
(:19) "DIVERSIFICATION WITH ALL YOUR INVESTMENTS IS ALWAYS THE KEY, SO FOLKS RECEIVING THIS NATURAL-GAS PAYMENT WANT TO DIVERSIFY INTO OTHER INVESTMENTS BUT YOU ALSO WANT TO REDUCE THE TAX BITE. THERE IS NO ONE-SIZE-FITS-ALL; IT'S REALLY UNIQUE AND YOU REALLY DO NEED TO TALK TO AN ADVISOR. THEY NEED TO TOTALLY UNDERSTAND YOUR FINANCIAL SITUATION TO PUT YOU IN THE BEST POSITION."(:14) KULECK SAYS INSTEAD OF YOUR BROTHER-IN-LAW, LOOK FOR A C-P-A OR LICENSED FINANCIAL PLANNER. YOU CAN GET HELP FINDING ONE ONLINE AT NATURAL GAS DOT EXTENSION DOT P-S-U DOT E-D-U. FROM PENN STATE, I'M GARY ABDULLAH.
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