When it comes to the volatility of the oil and gas industry and its impact on our daily lives, we tend to have more than a few questions. This week’s guest is fluent on the topic and will provide listeners with expert answers and insight. David Shallenberger, CPA, director of oil & gas services at … Continued
Author: David Shallenberger
Rea & Associates’ own David Shallenberger, CPA, director of oil & gas services, was recently published in the Ohio Oil & Gas Association’s monthly publication, Bulletin. Check out what David had to say about The Tax Increase Prevention Act of 2014.
If you’re a landowner who’s personally (and financially) benefitting from the oil & gas boom, you know that pipeline easement payments aren’t exactly chump change – and with big money comes big tax consequences. If you have a potential pipeline easement deal, don’t sign on the dotted line before you consider all the ways you … Continued
Are you still running calculator tapes while preparing spreadsheets? Do you format similar financial statements line by line? Have you been caught with footing errors on manually prepared statements? Are you struggling with visually explaining your data? If any of these situations sound familiar, then you need to start embracing the wonders of Microsoft® Excel®. … Continued
Ohio is booming with oil & gas activity. Are you trying to cash in on the opportunity? If so, there are a few things you need to know. You see, gaining the trust of the large out-of-state oil & gas producers isn’t easy. Not only does your business have to be in tip-top shape, but … Continued
Understand the importance of entity formation in order to protect your business assets!
Landowners across Ohio have been coming to us with what we can only describe as a “good problem to have.” Oil or natural gas has been found below their properties and companies are interested in buying or leasing their mineral rights. Suddenly these private, keep-to-themselves landowners have substantial offers on their doorsteps and they don’t … Continued
Property owners who expect to acquire replacement property should consider a like-kind exchange. A 1031 Exchange refers to a legal exchange that allows an investor to sell a property, to reinvest the proceeds in a new property and to defer all capital gain taxes. Although the logistics of selling one property and buying another are … Continued