How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask CGCPA Your Own Question
Category: Finance
Satisfied Customers: 3820
Experience:  40+ years experience in taxes and financial planning
Type Your Finance Question Here...
CGCPA is online now
A new question is answered every 9 seconds

What are the best tax avenues to buy working interests in oil

Resolved Question:

What are the best tax avenues to buy working interests in oil projects? Would it be better to form an S-Corp and go about it as a business or would it be better to just file as an individual and receive a K-1 (I think its called) at the end of the year? Could there be any added benefits of forming a corporation if I pursue this?
Submitted: 6 years ago.
Category: Finance
Expert:  CGCPA replied 6 years ago.

Welcome to Just Answer. I am here to help you resolve your tax and finance concerns. Please feel free to ask anytime you need extra help.


If the oil project itself is a corporation there is no added advantage to setting up another corporation for your investment. The primary advantage of a corporation is the limited liability it affords. If they are already incorporated, your liability is limited to your investment and you would gain nothing. There are no tax advantages here to incorporating.


If you need clarification, please feel free to ask.

CGCPA and 2 other Finance Specialists are ready to help you