Tax Preparation · Midland, Texas

Tax Preparation in Midland, TX

Business and personal returns for Midland owners, prepared from reconciled books rather than a shoebox of receipts. That includes the oil and gas royalty income, crews working across state lines and Texas franchise tax reports that come with doing business in the Permian Basin.

Midland at a Glance

County
Midland County
From our office
About 20 miles east of Odessa on I-20
Sales tax
8.25% inside city limits
Local economy
Energy, trucking, healthcare and aerospace
CFP Consulting Office Team

Our team in the Odessa office, about 20 miles west of Midland on I-20.

Why It Matters in Midland

Returns That Reflect How Midland Earns Money

A Midland return is rarely simple. Owners of oilfield service and trucking companies often have pass-through income from an S corporation or partnership, plus personal income from mineral rights, royalties or a working interest in a well.

Each of those is reported differently, and each comes with its own deductions. Preparing the business and personal returns together, from books we already know, keeps the numbers consistent and the deductions from slipping through.

Royalty and Mineral Income

Royalties and working interests reported correctly, with the depletion deductions that apply to them.

Pass-Through Businesses

S corporation and partnership returns prepared alongside the owners’ personal returns.

What You Get

Tax Preparation for Midland Owners

01

Business Returns

Returns for sole proprietors, partnerships, S corporations and C corporations.

02

Personal Returns

Individual returns for owners and families, including the income your business passes through to you.

03

Oil and Gas Income

Royalty and working interest income reported on the right schedules, with depletion taken where it applies.

04

Texas Franchise Tax

Franchise tax and information reports filed by May 15, even in years when no tax is due.

Remote by Default

Working With Us From Midland

1

Documents

Statements, receipts and tax forms are shared securely online, so nobody has to drive paper anywhere.

2

Meetings

Calls and video meetings on your schedule, with check-ins through the year, not just a rush in April.

3

The Office

Prefer to sit down in person? Our Odessa office is about 20 miles west of Midland on I-20, and you are welcome to stop by with an appointment.

Across the Permian Basin

Tax Preparation in Nearby Towns

Frequently Asked Questions

What Midland business owners ask about tax preparation.

Do you prepare returns that include oil and gas royalties?
Yes. Royalty and working interest income is common in Midland, and it is reported differently from wages or business income. We report it on the right schedules and take the depletion deductions that apply.
Do Texas businesses owe a state tax return?
Texas has no personal income tax, but LLCs, corporations and partnerships still answer to the franchise tax. For 2026 and 2027, businesses with total revenue at or below $2.65 million owe no franchise tax, but they must still file a Public Information Report or Ownership Information Report by May 15. Confirm current thresholds with the Texas Comptroller.
Can you prepare my business and personal returns together?
Yes. Most Midland owners have both, and preparing them together keeps the pass-through numbers consistent from one return to the other.
Do I need to come to the office to drop off documents?
No. Most Midland clients never need to make the drive. Documents are shared securely online and meetings happen by phone or video. If you would rather sit down in person, our Odessa office is about 20 miles west on I-20.
How much does tax preparation cost?
Pricing depends on your entity type, transaction volume, and which services you need. We'll give you a flat quote after a short call, so there are no surprise invoices. Most business owners find the tax savings cover the fee.