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By Sandra Orcutt, EA, Supervisor Although the so-called “kiddie tax” will be easier to calculate thanks to the Tax Cuts and Jobs Act (TCJA) of 2017, the unearned income of eligible children (or grandchildren) could be taxed at a higher […]

By Andy Griffin, CPA, Supervisor and Keith A. Arner, CPA, CVA, Partner  In the world of oil and gas, we know that production cash receipts and income tend to lag a month or two (or sometimes three) behind when the […]

By Andy Griffin, CPA, Supervisor and Keith A. Arner, CPA, CVA, Partner As we’ve described previously, one of the components of “getting back in the game” for small independent E&P companies is producing financial statements that are compliant with Generally Accepted Accounting […]

Financial statements are often required for E&P companies to obtain financing or enter into credit facilities. This blog post is the first in a series to identify common reporting questions for oil & gas accounting.

The Social Security Administration (SSA) has said it will restart its mismatch letter notification program to help reduce errors related to employees’ Social Security Numbers (SSNs).  Beginning next spring, the SSA plans to notify each employer that provides it with […]

I’m often asked by my clients, “How do I transition my company to the next generation?”. In order for a succession to be successful, it needs to work for both parties. Clients are advised early in our business relationship about […]

The Tax Cuts and Jobs Act (TCJA) introduced flat 21% federal income tax rate for C corporations for tax years beginning in 2018 and beyond. Under prior law, profitable C corporations paid up to 35%. This change has caused many business […]

Avoid ALL penalties and HALF of your interest! If you have unpaid taxes, Ohio Tax Amnesty could help you avoid 100% of penalties and 50% of interest due. Ohio Tax Amnesty will help you achieve a fresh start and settle […]

This past fall Notice 2017-51 was issued by the IRS to provide guidance on the marginal well production credit. The notice computed the credit amount for calendar year 2016 at $0.14 per mcf as well as provided guidance on claiming […]

Business travel isn’t what it used to be. With conference calls and Web meetings increasingly prevalent, the sheer volume of corporate travelers has probably diminished. But there are still plenty of dedicated “road warriors” on the job. And if your […]

By Sarah Yost, Senior Accountant, QuickBooks Online ProAdvisor Terminator, WALL-E, Short Circuit and your accounting firm – what do these things have in common? Artificial intelligence (AI). What is AI? “AI is a machine or computer software that acts with […]

By Sarah Yost, Senior Accountant and QuickBooks Online ProAdvisor Heavy QuickBooks users, or those in a specialized industry, know that while the bookkeeping software giant has become much more user-friendly over the years, there are still limitations. Despite the challenges, QuickBooks is […]