OIL & GAS
Stop Drilling Profits into the IRS and start fueling growth
in your Oil & Gas business, by minimizing taxes.
Our tax analysis reveals how machine shop owners could
SAVE SEVEN FIGURES IN TAXES, even if they have a CPA.
OIL & GAS
Minimize tax liability.
Maximize wealth accumulation.
Our tax analysis reveals how machine shop owners could
SAVE SIX FIGURES IN TAXES,
even if they have a CPA.
Here's the hard truth about your income taxes...
- Chances are, you’re paying a higher tax rate for your Oil & Gas business than the big corporations are.
- Most small business CPAs handle year-end taxes but lack the know-how to unlock the full range of tax benefits for smaller oil & gas operators.
- Some business owners attempt to cut their own tax bills but often hit roadblocks with the complex tax code and tight schedules.
Big companies turn to Specialty Tax Firms and savvy CPAs to cut taxes and boost profits. One of their secret weapons? R&D Tax Credits: a dollar-for-dollar tax break that can help you legally slash or eliminate Your business income taxes with R&D Credits.
Stop waiting for your CPA to share the tax-saving tricks the top 1% rely on.
Take our FREE Qualification Quiz
to see if your Oil & Gas business qualifies for R&D tax credits. No calls, no hassle. Just instant results!
Owner, Operator of Oil and Gas Company
Tax Savings Readiness
This tax analysis is for shop owners who are:
- Prepared to seize command of their financial destiny…
- Exhausted from funneling tens of thousands of dollars to the IRS instead of channeling it towards retirement savings
- Eager to embrace empowerment through tailored strategies crafted with oil & gas professionals in focus
- Desiring liberation from feelings of entrapment or stagnation
- Primed to reclaim control and initiate a journey towards empowerment!
A married couple owns a successful Oil & Gas Industry machine shop.
• Machine shop has $15 million in annual revenue
• Business is registered as an LLC, in Louisiana
• Couple has 4 kids under the age of 18
• Couple’s taxable income is $4.5 million
________________________________
TAXES OWED: $1,899,546
Scroll for eight tax reduction strategies.
CASE STUDY: A MACHINE SHOP OWNER'S SCENARIO
CASE STUDY: A MACHINE SHOP OWNER'S SCENARIO
A married couple owns a successful Oil & Gas Industry machine shop.
• Machine shop has $15 million in annual revenue
• Business is registered as an LLC, in Louisiana
• Couple has 4 kids under the age of 18
• Couple’s taxable income is $4.5 million
__________________________
TAXES OWED: $1,899,546
scroll for eight Tax Reduction Strategies...
TAX SAVINGS STRATEGIES
STRATEGY #1
$688,500
Savings in self-employment tax
Schedule C to S Corp
Federal Tax Savings: $245,745
State Tax Savings: $29,261
- Eliminates $4.5 million in profits from being subject to the 15.3% Self-Employment Tax.
- Taxpayer will take a reasonable salary of $700,000.
STRATEGY #2
$550,000
Tax-deferred investment
Defined Benefit Plan
State Tax Savings: $23,375
- Retirement plan with a contribution of $275,000 into a defined benefit plan.
STRATEGY #1
$688,500
Savings in self-employment tax
Schedule C to S Corp
Federal Tax Savings: $254,745
State Tax Savings: $29,261
- Eliminates $4.5 million in profits from being subject to the 15.3% Self-Employment Tax.
- Taxpayer will take a reasonable salary of $700,000.
STRATEGY #2
$550,000
Tax-deferred investment
Defined Benefit Plan
- Retirement plan with a contribution of $275,000 into a defined benefit plan.
STRATEGY #3
$58,400
Deduction
Paying the Kids
Federal Tax Savings: $21,608
State Tax Savings: $2,482
- Each of the four children will be paid a yearly salary of $14,600.
STRATEGY #4
$70,000
Deduction
Private Rental Strategy
Federal Tax Savings: $25,900
State Tax Savings: $2,975
- Private rental tax-free reimbursement.
STRATEGY #3
$58,400
Deduction
Paying the Kids
Federal Tax Savings: $21,608
State Tax Savings:
$2,482
- Each child will be paid yearly salary of $14,600.
- Individual standard deduction is $14,600; they will receive the salary tax-free.
- Preferred Option: Contribution into Roth of $7,000.
STRATEGY #4
$70,000
Deduction
Private Rental Strategy
Federal Tax Savings: $25,900
State Tax Savings:
$2,975
- Private rental tax-free reimbursement.
The Matthew James Tax Pros Approach:
IDENTIFY TAX DEDUCTIONS
DISCOVER LEGAL ENTITY STRUCTURES
UNCOVER UNKNOWN STRATEGIES
HARNESS EXCLUSIVE TAX PLAN
Machine Shop Owner's
Tax Savings Readiness
This tax analysis is for shop owners who are:
- Prepared to seize command of their financial destiny…
- Exhausted from funneling tens of thousands of dollars to the IRS instead of channeling it towards retirement savings
- Eager to embrace empowerment through tailored strategies crafted with oil & gas professionals in focus
- Desiring liberation from feelings of entrapment or stagnation
- Primed to reclaim control and initiate a journey towards empowerment!
Minimize liabilities. Maximize wealth.
STRATEGY #5
AUTO
EXPENSE
$148,000
Deduction
Federal Tax Savings: $54,760
State Tax Savings: $6,290
Owner/operator purchased $185,000 luxury SUV for business, during the Tax Year.
80% of vehicle can be written off.
STRATEGY #6
INVESTMENT PROPERTY
$2,500,000
Purchase price
92% deduction in year one,
on initial investment.
STRATEGY #7
ITEMIZED DEDUCTION
$500,000
Income reduction
$50,000 minimum contribution
Remainder carried forward
STRATEGY #8
BOARD OF
ADVISORS
$300,000
Income reduction
Federal Tax Savings: $111,000
State Tax Savings: $12,750
Strategic framework for involving family members in critical business and financial decisions
- TAXES OWED -
BEFORE
MATTHEW JAMES
TAX PROS
$1,899,546
WITH
MATTHEW JAMES
TAX PROS
STRATEGY #5
$148,000
Deduction
AUTO
EXPENSE
Federal Tax Savings: $54,760
State Tax Savings: $6,290
Physician purchased luxury SUV for business, for $185,000 during the Tax Year. 80% of vehicle can be written off.
STRATEGY #6
$2,500,000
Purchase price
INVESTMENT
PROPERTY
Federal Tax Savings: $925,000
State Tax Savings: $106,250
Study applied to three separate properties.
Using Accelerated Depreciation.
STRATEGY #7
$500,000
Income reduction
ITEMIZED
DEDUCTION
5 : 1 Medical Donation
[limited to 50% AGI]
$50,000 minimum contribution
Remainder carried forward
STRATEGY #8
$300,000
Income reduction
BOARD OF
ADVISORS
Federal Tax Savings: $111,000
State Tax Savings: $12,750
Strategic framework for involving family members in critical business and financial decisions
TAXES OWED
BEFORE MATTHEW JAMES TAX PROS
$1,899,546
WITH MATTHEW JAMES
TAX PROS
$1,808,949 Saved
96% Reduction
Your business. Your money. Your future.
Whether you’re an Oil and Gas Business Owner, Physician, Social Media Influencer, Small Business Owner, Healthcare Contractor, Professional Athlete, Professional Racer, or highly compensated Executive…
OUR STRATEGIES PUT MONEY BACK IN YOUR WALLET.
Your business. Your money. Your future.
Whether you’re an Oil and Gas Business Owner, Physician, Social Media Influencer, Small Business Owner, Healthcare Contractor, Professional Athlete, Professional Racer, or highly compensated Executive…
BACK IN YOUR WALLET.
