Oilfield service payroll
Fast-growing service companies can fall behind on payroll deposits during slow collection cycles.
Learn more: Payroll (employment) tax problems · Cash flow management
The Entrepreneur's CPA for Odessa, TX
We help oilfield-service companies, working-interest and royalty owners, and highly paid field workers in Odessa, TX resolve IRS problems and plan ahead so the same issue doesn't return.
Every IRS case starts with your IRS account transcripts and a written plan, with fees disclosed before we begin.
We do not have an office in Odessa. Odessa clients are served remotely from our Irving, Texas office by video, phone, and secure document exchange.
See published pricing · How engagements work · Call (817) 214-4014
Tax and IRS issues we see in Odessa
Odessa is part of the Permian Basin region, in Ector County (the city also extends into Midland County).
The Permian Basin is one of the most productive oil and gas regions in the world, and its economy follows drilling activity, oilfield services, and mineral ownership.
Texas has no personal income tax. Most businesses deal with the Texas franchise tax and sales tax, both administered by the Comptroller, and local property taxes are handled through county appraisal districts.
Selling mineral rights
Selling minerals is taxed differently from receiving royalties. Holding period, basis, and payment terms determine the result.
Learn more: Installment sales · Estate planning
Equipment-heavy service companies
Trucks, rigs, and tools are major investments. Timing and elections for depreciation affect both taxes and cash flow.
Learn more: Section 179 expensing · Cash flow management
Frequently asked questions
I own mineral rights. What do I need to report?
Royalties, lease bonuses, and any sale proceeds are each reported differently. We review your 1099s and division orders before filing.
Should I sell my mineral rights?
That's an investment decision. We model the tax cost of selling compared with continuing to receive royalties so you can decide with full information.
How are new trucks and equipment deducted?
It depends on the asset, when it was placed in service, and which elections you make. We plan purchases with you before year-end.
Credentials and practice authority
How we serve clients in Odessa, Texas
ebotCPA PLLC is a licensed Texas CPA firm serving clients throughout Texas from our Irving office. We do not maintain an office in Odessa. Services are delivered remotely or at our Irving location by appointment.
IRS resolution and representation · tax planning and strategy · federal and Texas tax compliance · bookkeeping and monthly accounting · CFO advisory and financial reporting · audits, reviews and compilations · entity formation and business advisory
Texas CPA license #127163, Texas State Board of Public Accountancy. Enrolled Agent admitted to practice before the Internal Revenue Service under Treasury Circular 230.
Scope and fees are confirmed in a written engagement letter before work begins.
Ebot Mbi, CPA, EA is an IRS Enrolled Agent and a Texas-licensed CPA (Texas CPA License #127163). Enrolled Agents and CPAs are authorized under Treasury Circular 230 to represent taxpayers before the IRS in every state.
ebotCPA PLLC is a Texas CPA firm. State matters are handled with the Texas Comptroller of Public Accounts.
This page is general information, not tax advice for your situation. Results depend on your facts; no outcome is guaranteed.