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OIL  & GAS

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We understand the complex tax challenges and regulations the oil and gas industry faces.

Our specialized services include:

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Compliance and Reporting:

Ensuring accurate and timely filing of Schedule E, including the proper reporting of income and expenses from oil and gas operations; leases and royalties.

Tax Planning:

Developing strategies to minimize tax liabilities, such as leveraging depletion allowances, intangible drilling costs, and other industry-specific deductions.

Royalty Income Management

Assisting with the proper reporting and tax treatment of royalty income, ensuring compliance with IRS regulations and maximizing allowable deductions.

Business Structuring

Advice on the most tax-efficient business structures for the oil and gas industry, including considerations for converting to an LLC or trust.

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