On the today's episode we welcome back Brent Watson, a guest on Season 1, to discuss how focusing on Sales & Use Tax can help save your business money and increase profitability. In this episode you'll hear: Why Operators should even care about Sales & Use Tax (3:26) The 3 Factors that Contribute to Overpayment of Sales Tax (4:22)How Exempt Certificates Work (8:24) What Tax Issues Texas Operators Face (10:06)What Tax Issues New Mexico Operators Face (13:46)What Tax...
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On the today's episode we welcome back Brent Watson, a guest on Season 1, to discuss how focusing on Sales & Use Tax can help save your business money and increase profitability. In this episode you'll hear: Why Operators should even care about Sales & Use Tax (3:26) The 3 Factors that Contribute to Overpayment of Sales Tax (4:22)How Exempt Certificates Work (8:24) What Tax Issues Texas Operators Face (10:06)What Tax Issues New Mexico Operators Face (13:46)What Tax...
Holdbacks As A Possible Solution to Plugging Liabilities with Dwayne Purvis
The Oil & Gas Accounting Podcast
30 minutes
3 years ago
Holdbacks As A Possible Solution to Plugging Liabilities with Dwayne Purvis
On this week’s episode, Tom and Phil are joined by Dwayne Purvis, a reservoir engineer and consultant. Dwayne shares his insight on Asset Retirement Obligations, most notably, well plugging liabilities. There are currently anywhere from 2 million to 2.5 million wells that need to be plugged nationwide. Dwayne came up with holdbacks as a way to cover well plugging liabilities by using all net income from a well during certain time periods. Tom, Phil and Dwayne discuss why this is an ongoing is...
The Oil & Gas Accounting Podcast
On the today's episode we welcome back Brent Watson, a guest on Season 1, to discuss how focusing on Sales & Use Tax can help save your business money and increase profitability. In this episode you'll hear: Why Operators should even care about Sales & Use Tax (3:26) The 3 Factors that Contribute to Overpayment of Sales Tax (4:22)How Exempt Certificates Work (8:24) What Tax Issues Texas Operators Face (10:06)What Tax Issues New Mexico Operators Face (13:46)What Tax...
