AgChoice Farm Credit's royalty services are a complement to our oil/gas/mineral rights lease planning, wealth management and credit solutions. We serve as your trusted business partner and successfully administer the many facets of your royalty wealth.
Simply put, we shoulder the burden of administering your royalty wealth so you have more time to enjoy your financial good fortune with comfort and confidence. You can count on AgChoice to actively track developments in the shale energy formations and hydrocarbon energy industries to identify the financial impact on your royalty wealth.
Let us help you with:
- Your royalty statements are reviewed by a certified mineral professional to reconcile well production data with your royalty check. This review process will flag and correct payment mistakes as soon as possible.
- Serve as the key liaison with your lessee, corresponding with them on your behalf to help correct royalty payment mistakes and resolve other lease administration issues.
- Monitor the financial performance of each well, advising you about the financial impact of changing trends in your royalty stream.
- Provide consolidated financial reports by well to enhance your lease management.
- Enjoy your own personalized, secure family web page that stores your royalty/lease documentation in one convenient viewing portal for interested parties to access no matter where they live.
- Better organize your personal life with one central location to store important documents like wills and powers of attorney in a highly secure fashion.
- Prepare all royalty-related business/personal tax forms for federal, state and local tax reporting, including K-1 reports if applicable.
- Reconcile 1099 reports from the energy company to your actual royalty revenue each tax year.
- Prepare and pay estimated income tax payments during the tax year.
- Prepare 1099 and W-2 reports as needed.
- Track tax law changes and incorporate them into your income tax planning.
*Income tax services provided by tax professionals under separate agreement. Tax return preparation/filing and check writing services are also available.
- Consult with you to establish and administer the appropriate business structure to own your lease.
- Coordinate business meetings among owners and help record meeting minutes as needed.
- Monitor your business practices to ensure separation of personal and business affairs.
- Police the maintenance of liability insurance coverage for maximum personal asset protection.
- Coordinate cash transfers between business, personal and investment accounts of your choosing.