I am receiving royalties from property in Pecos cty, and live in Colorado. How do I get the best tax help in order to save on my taxes? I have only been receiving for 1 year, this will be the first time paying tax on them. Please help!
Texas has no state income tax. If you’re referring to county property (mineral) taxes you have the chance to appeal when you receive your estimated taxes document in 2019. If you’re referring to Federal taxes hire a CPA as your royalty income is and can be depreciated.