Plumbing & water

Books and taxes for well drilling companies.

A new well billed by the foot drilled, a state well permit, a pump swap on a call, and a rig that sits idle once the ground freezes. Gus sorts all of it, an accountant checks every transaction, and you get one number a month.

Book a call What we handle
  • From $197 a month
  • An accountant on every transaction
  • Cancel whenever
MayExample month
$15,900
what you made

May came in at $15,900. The Miller property well hit rock at 180 feet, so the final bill ran well past the estimate. I booked it as one completed job, not a partial draw.

  • Well completion draw, Miller propertyNew well drilling
  • Pump replacement service callsWell pump service
  • State well permit feesPermits and testing
  • Casing and screen supplier invoiceCasing and drilling supplies
  • Diesel fuel, rigRig fuel and maintenance
Money in$61,200
Money out$45,300
Set aside for taxes$4,200
An example month. Yours will have your numbers.

Why your books are different

Well drilling books go wrong in the same few places.

A generalist sees a big check for a strange amount. Your business is billing by the foot drilled, a rig that costs more than any truck you own, and a season that stops cold once the ground freezes. When the books do not know that, you cannot tell if a hard well actually paid for the extra time it took.

  1. 1

    By-the-foot pricing makes every job total look random

    A well quoted at $28 a foot can end anywhere from 100 to 300 feet depending on when you hit water, so no two job totals look alike, and it is easy to lose track of which wells actually ran profitable against the time they took.

    What we doTracks each well job against its own cost, so you can see which jobs paid for the extra drilling time and which did not.
  2. 2

    The drill rig is not a truck and not a supply

    A drilling rig, compressor, and mud pump system can cost more than your entire truck fleet. Filed as equipment the same as a service van, it misses the treatment it usually deserves as heavy specialized equipment.

    What we doFlags the rig and its major components as their own equipment purchase and gets the accountant's call on how to write it off.
  3. 3

    State well permits and testing get buried in the job cost

    A state well permit, a required yield test, and sometimes a water quality test add real cost before you ever hit water. Lumped into one job total, you cannot tell if permit-heavy jobs still pencil out.

    What we doKeeps permit and testing fees in their own line, tied to the well, so the real cost of getting a well approved is visible.
  4. 4

    Pump service calls and new drilling look the same in the checkbook

    A quick pump swap and a multi-day drilling job both show up as one deposit, but they use completely different labor, fuel, and equipment. Mixed together, you cannot tell which side of the business is actually carrying the year.

    What we doKeeps well pump service calls in their own category, separate from new well drilling, so each side of the business shows its own number.

Your categories

The categories Gus keeps for a well drilling company.

Set up once for how you get paid and what you spend. You never pick a category. He does, and an accountant checks it.

Money in

  • New well drillingBilled by the foot drilled or as a completion draw.
  • Well pump servicePump swaps, pressure tank service, and repair calls.
  • Yield and water quality testingStandalone testing billed apart from a drilling job.
  • Well decommissioningSealing and abandoning old wells for a fee.

Money out

  • Crew wagesKept apart so you can see labor against the jobs it ran.
  • Casing and drilling suppliesCasing, screen, drilling mud, and grout.
  • Permits and testingState well permits, yield tests, and water quality tests.
  • Rig fuel and maintenanceDiesel, repairs, and upkeep for the drilling rig.
  • EquipmentThe rig, compressor, and pump service equipment, logged so they get written off right.
  • Truck and fuelFuel, repairs, insurance, and loan interest for the support fleet.
  • Insurance and bondingLiability coverage and state contractor bonding.

What we watch for you

  • Cost per foot drilled

    What each well actually costs against what it billed, so hard wells get priced right next time.

  • Permit cost per job

    What state permits and testing run on average, so bids account for it.

  • Pump service share

    How much of the month came from service calls versus new drilling.

  • The set-aside

    What you will owe, tracked every month, so April is a number you already knew.

Ask Gus

Things well drilling owners ask Gus.

Text him like you would text anybody. He answers in plain English, and when a question is above his pay grade, an accountant looks and gets back to you.

The Miller well hit rock and ran way past the estimate. Did we actually make money on it?

Once the extra rig time and casing are counted, it cleared less than your usual per-foot rate, but it was not a loss. I have the breakdown if you want to adjust your rock clause next time.

State well permits keep going up. Is that hurting my margin?

I have permit costs by job sitting in one line for you. Worth a look before your next bid in that county.

I want to buy a new mud pump for the rig. Does that all come off this year?

Usually it can. I logged it as equipment, not supplies, and flagged it so the accountant makes the call with your whole year in view.

The tax side

The tax side of a well drilling business.

Most of what goes wrong here is timing and labels: rig equipment filed like a truck, permit costs buried in a job total, and job totals so uneven that nobody tracks them against the foot drilled.

What your return has to get right

Your accountant signs it, so it gets done right the first time.

  • Drilling rigs and heavy equipmentBusiness equipment can usually be written off the year you buy it. Bonus depreciation is back to 100 percent for property acquired after January 19, 2025. Whether to take it all now depends on the year you are having.
  • Contractor 1099sAnyone not on payroll who you paid $2,000 or more in 2026 gets a 1099-NEC by January 31. Gus keeps that list all year.
  • State well permits and testingPermit and yield testing fees are usually deductible in the year paid, as an ordinary cost of getting a well approved.
  • The pass-through deductionMost owner-operators can take up to 20 percent of business profit off their taxable income. It comes out right when the books are right all year.

Deductions well drilling and well pump service companies miss

Your bookkeeper knows what to look for in your statements. You never have to.

  • Rig fuel and maintenance
  • Casing, screen, and grout
  • Drilling mud and additives
  • State well permit fees
  • Yield and water quality testing
  • Pump and pressure tank parts
  • Truck fuel and repairs
  • Uniforms with your logo
  • Phone and radio for remote sites
  • License and bonding renewal
  • Small tools under the expensing threshold
  • Continuing education courses

General information about 2026 federal rules, not advice for your business. Your accountant looks at your actual numbers before anything gets filed.

All year, not just April

A well drilling year, kept every month.

Drilling stops once the ground freezes, but pump service calls do not. Your taxes come on a schedule. Your team keeps you ahead of both. Every month in between, your bookkeeper closes the books and speaks up the moment something looks off.

  1. January

    Plan the year

    Last year's return gets started, the 1099 list is ready, and you get a monthly set-aside so April is already handled.

  2. April

    Filed. Done.

    Your return is filed and signed. No surprise bill, because the set-aside has been running since January.

  3. July

    Halfway check

    Where you stand, what you will owe, and whether the spring drilling season changed the number.

  4. October

    Before frozen ground

    Drilling slows once the ground freezes. Before that, Gus looks at equipment you might buy and anything worth doing before December.

What you get

Starts at$197a month

What you pay depends on what your business needs, and it does not move after that, busy season or slow. No hourly bills, no surprise invoices, no setup fee.

Book a call
  • Monthly bookkeeping

    Every transaction sorted into categories set up for well drilling and well pump service companies. You never categorize a thing.

  • An accountant checks every transaction

    Real review, every month, before your books close. Not a spot check.

  • Your business tax return, filed

    Prepared, reviewed, and signed by that same accountant every year.

  • The monthly number

    What you made, what you spent, what to set aside for taxes.

  • Your own bookkeeper

    A real person assigned to your business, in the app whenever you need them. No hold music.

  • On your books all year

    Every month, not just in April. Your team speaks up whenever something is worth your attention.

  • Cancel any time

    No contract. No cancellation call. Your books are yours.

Straight answers

Questions well drilling owners ask first.

Can Gus track profit per well when jobs run different lengths?

Yes. He tracks each well against its own cost, including the extra time and casing a hard well takes, so you can see which jobs actually paid off.

Do I write off a new drilling rig all at once?

Often, yes, though a rig this size deserves a real look at your whole year first. Gus flags it as equipment the day it posts and hands the decision to the accountant rather than guessing.

Can Gus keep pump service and new drilling separate?

Yes. They stay in their own categories so you can see which side of the business is carrying the year.

Do state well permits count as a deduction?

Usually yes, in the year you pay them. Gus keeps permit and testing costs in their own line so the accountant can confirm the treatment.

The drilling season is short where I work. Does that change how Gus handles my books?

No. Gus works from your bank statement year-round, and the monthly set-aside accounts for a season that is busy for only part of the year.

The drilling season keeps me too busy to touch the books until it slows down. Is that a problem?

No, that is common in this trade. Send the statements from the season once things quiet down, and Gus will sort through the backlog so you know where the year actually stands before it is over.

Is a real accountant checking my books?

Yes. You get your own bookkeeper, Gus does the first pass on every transaction, and an accountant checks every one before your month closes. That same accountant prepares, signs, and files your business return. Goatkeeper is not a CPA firm, and we never pretend a person looked when they did not.

What does it cost, and can I cancel?

It starts at $197 a month, depending on what your business needs. No setup fee, no hourly bills, no contract. Cancel any time from the app, and your books go with you.

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What makes a bookkeeper worth paying for Every business we keep books for

Book a call

Pick a time. That's the whole signup.

Fifteen minutes with a real person on our team. They look at where your books are, tell you straight what it takes to get caught up, and get you set up on the spot if it fits.

  • $197 a month to start
  • An accountant on every transaction
  • Cancel whenever