I have producing wells and am receiving checks. Is it better just to let these funnel through as personal income or is it better to form a Corporation? I can’t seem to find any listings for Oil and Gas Accountants, and my Tax Accountant doesn’t seem to know what she is doing when it comes to mineral income.
I have minerals in not only Colorado but also New Mexico and Texas. I use a CPA firm in Midland, TX and I think they do a great job.
Armstrong, Backus & Co jrevelez@armstrongbackus.com (432) 682-6258
I do not use an LLC.
Thank you!