What is a CMM?
CMM stands for Certified Mineral Manager which is a designation awarded to professionals who have demonstrated extensive knowledge in minerals and royalty asset management, including legal considerations, financial transactions and records, regulatory policies and procedures and practical application. The National Association of Royalty Owners (NARO) administers the CMM program where candidates must complete a required number of Education Credits and pass three exams in order to complete the program.
What is unique about a CPA and CMM?
As the only CPA and CMM in the Ohio Valley region, Jeff is uniquely and strategically qualified to assist mineral owners with understanding their mineral interests, helping mineral owners understand the complexities of gas and oil activity and provide specialized professional services.
Why hire a CPA/CMM?
The main goal for our firm is to provide tax services to land and mineral owners. We want to make sure you pay the correct and lowest possible taxes on land and mineral activity such as royalties, leases, easements and rights-of-way, damages, temporary access and other gas and oil related activity. We help you understand the complexities of your land and mineral ownership. We also want you to have peace of mind knowing your affairs are being handled properly.
- Prior Year Tax Return Review
- Quarterly Estimated Taxes – The IRS and states impose estimated tax penalties on filers when certain thresholds are not met
- Form 1099 verification
- IRS Backup Withholding problems
- Corresponding and handling IRS Notices
- Review royalty statement with mineral owner to explain the columns and numbers on the statement
- Review lease, division order, declaration of pooled unit, and mineral owner decimal interest
- Monitor and review royalty statements to determine if you are getting paid correctly and if producer deductions are allowed per the lease terms.
- Compare well production reported to the State to mineral owner royalty statements
- Recovery of underpaid royalties or non-payment of royalties
- Verify mineral real estate tax appraisal values