We Know and Understand Oil & Gas Taxation

BSS has been providing accounting services to the oil industry for over 30 years. We help independent oil producers, drillers, investors and service companies. We serve producers with locations and operations in thirteen states. We are a firm small enough to provide personalized service, but large enough to utilize the specialized and complex oil and gas tax rules to your advantage. Oil and gas accounting and tax services we provide to our clients include:
  • Entity formation including S Corps, LLCs and partnership
  • Entity selection to minimize self-employment taxes
  • Federal and state oil and gas tax compliance
  • Sales tax compliance
  • Tax planning for like-kind exchanges of oil properties
  • Tax planning for the sales of oil and gas properties
  • Proper accounting for IDCs and equipment
We are active members in the following oil industry organizations:
  • Illinois Oil & Gas Association
  • Indiana Oil & Gas Association
  • American Association of Professional Landmen
  • Tri-State Association of Professional Landmen
Periodically, interim tax law updates affecting oil and gas producers are provided by e-mail only. To keep up to date on these developments, please send your e-mail address to ssimpson@bsscpa.com.