In today’s episode, Tom and Phil are joined by Butch Rogers, Certified Public Accountant. They discuss possible tax benefits that may be helpful to oil producers when filing taxes this year. They also cover some of the tax changes we may see under the new administration, along with the most recent updates on the Paycheck Protection Loan.
2:47 Butch’s motivation to stay in school to get a “sit down” job
5:57 Changes in law, IRS rulings, and court cases impacting the oil and gas industry
13:54 Potential Tax Benefits for oil producers after the downturn in the oil and gas industry
18:50 The latest updates on PPP loan forgiveness
25:37 Impact of tax legislation under the Biden Administration
31:07 How increased tax rates could actually drive more investments into the industry
About Butch Rogers:
Robert “Butch” Rogers is a Certified Public Accountant with a Master’s Degree in Taxation from Texas Tech University. He is a CPA in Wooster, Ohio and is a partner in the CPA firm MBR Partners, Inc.
Butch has over 35 years experience working in and with clients in the oil and gas industry. As a college student he worked as a roustabout in West Texas. Upon graduating from college he worked for Gulf Oil as a business administration trainee, working in the Midland, Texas district office and the Monahans, Texas field office. He gained valuable oil and gas tax experience working with Coopers and Lybrand in Lubbock, Texas. During his time as a practicing CPA, Butch served a number of small independent producers as a trusted tax and business advisor.
His speaking experience includes conducting continuing education seminars and webinars for various state societies of CPAs, Ohio Oil and Gas Association, COPAS, and Bisk Education.
Connect with Butch:
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SherWare creates software to simplify your accounting needs so you have more time to do the things that matter. We serve independent oil and gas operators, accountants and investors with a platform to manage their distributions and joint-interest billings on a platform -- and we’re the only software on the market that can integrate with your QuickBooks company.
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COPAS provides expertise for the oil and gas industry through the development of Model Form Accounting Procedures, publications, and education. We are a forum for the active exchange of ideas which result in innovative business and accounting solutions.