Tax Preparation in Stanton, TX
A Stanton return can include a cotton crop, a grazing lease, a royalty check from a horizontal well and a small business, all for the same family. We prepare those returns from organized books and put each kind of income where it belongs.
Stanton at a Glance
- County
- Martin County
- From our office
- About 40 miles east of Odessa on I-20, past Midland
- Sales tax
- 8% inside city limits
- Local economy
- Oil and gas, cotton farming and ranching
Our team in the Odessa office, about 40 miles west of Stanton on I-20.
Returns for Farm Families With Mineral Income
Martin County has a lot of families who have farmed the same ground for generations, and many of them now also receive royalties from wells drilled under that ground. Farm income goes on Schedule F, royalties usually go on Schedule E, and the rules for each are different.
Add a side business or an LLC and the return gets more involved. We prepare business and personal returns together, so the numbers match and deductions like depletion and farm equipment depreciation are not missed.
Farm Returns
Schedule F income and expenses, crop insurance and program payments reported correctly.
Mineral and Royalty Income
Royalty and lease bonus income reported on the right schedule, with depletion where it applies.
Tax Preparation for Stanton Clients
Individual Returns
Personal returns that bring together wages, farm income, royalties and business income.
Business Returns
Partnership, S corporation, C corporation and sole proprietor returns.
Farm Equipment Depreciation
Tractors, strippers, modules and pickups depreciated on the right schedules.
Texas Franchise Tax
Franchise tax and information reports for LLCs and corporations, filed by May 15.
Working With Us From Stanton
Documents
Statements, receipts and tax forms are shared securely online, so nobody has to drive paper anywhere.
Meetings
Calls and video meetings on your schedule, with check-ins through the year, not just a rush in April.
The Office
Prefer to sit down in person? Our Odessa office is about 40 miles west of Stanton on I-20, and you are welcome to stop by with an appointment.
Other Services in Stanton
Bookkeeping in Stanton
Monthly books that handle crop-year income and oilfield invoices.
Tax Planning in Stanton
Crop sale timing, royalty planning and estimates for Stanton owners.
Payroll in Stanton
Payroll for farm seasons, oilfield crews and Stanton shops.
Tax Preparation in Nearby Towns
Frequently Asked Questions
Questions Stanton families ask about tax preparation.
