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Pro tip: Don't miss out on the Section 199 tax deduction

When we reviewed many of our new clients' tax returns we noticed a disturbing trend: they were giving money away! If you are a...


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Topics: News,

The Difference Between Marginal And Effective Tax Rates

There are a lot of misconceptions when it comes to personal income taxes, and one of the most misunderstood income tax...


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Topics: Effective Tax Rate, Marginal Tax Rate, News

7 Tax Tips for Oil and Gas Landmen

For individuals that become landmen, this is usually the first time they would be considered self-employed, so they are not...


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Topics: News, Tax Strategies,

Tax Consequences on Oil and Gas Royalties and Lease Bonus Payments

 

If you've leased your land to an oil and gas company for energy production, it important to stat planning and preparing for...


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Topics: News, Tax Strategies,

Creating a Profit Map

Have you ever sat down and made a map of how your business makes money, also known as a profit map?  If you haven't, I highly...


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Topics: Business Strategies, News,

Cost Segregation Study

If you own commercial real estate, you need to know about this tax saving strategy:  cost segregation studies.  
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Topics: Business Strategies, News,

Reality Check For Business Owners

I am continually surprised by how many business owners I meet with whose business is their sole retirement vehicle.  When you ask...


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Topics: Business Strategies, News,

When was the last time you gave any thought about your business entity type?

Recently we were working on a consulting project for an oil and gas client in Oklahoma.  During the consulting project we asked...


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Topics: Business Strategies, News,

Paradise Equipment Retains Sean M. Hugo, CPA, PC

We are pleased to announce we have been retained by Paradise Equipment as their Oklahoma City based CPA firm.  Paradise Equipment...


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Topics: News,

Reasons Businesses Fail

I ran across this article tonight regarding the top ten reasons why small businesses fail.  I have to say that I agree with each...


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Topics: Business Strategies, News,

Show A "Profit" But Don't Have Any Cash?

In business cash is king so it is very important to have an understanding of where all your cash is going.  When you look at your...


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Topics: Business Strategies, News,

New Client Oklahoma Select Roofing

December 10, 2010 - Oklahoma Select Roofing retains Sean M. Hugo, CPA, PC as their new CPA firm.  Oklahoma Select Roofing is a...


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Topics: News,