Accounting for the industries we know

Agents and brokers report commission income on Schedule C, landlords report rentals on Schedule E, and short-term rental hosts follow New Orleans' Short-Term Rental Administration and the state's taxes on room rentals. Residential rental buildings depreciate over 27.5 years.

Law practices keep client money in a trust account separate from the firm's own. Health and law are specified service trades, so the qualified business income deduction phases out as income climbs, and an S corporation pays a shareholder-employee reasonable compensation before distributions.

Gross receipts pick the nonprofit's form, from the 990-N e-postcard at $50,000 or less up to Form 990. Churches are excepted from the 990 series, a minister's housing allowance must be designated in advance, and three consecutive missed years revoke the exemption automatically.

Owner-operators report on Schedule C, and a truck owes the Form 2290 use tax once its taxable gross weight reaches 55,000 pounds. Fleets add payroll filings, IRP apportioned plates, Unified Carrier Registration and IFTA fuel tax returns filed with the state.

All tips are income, employees report $20 or more a month in writing, and large food establishments file Form 8027 and allocate reported tips below 8 percent of sales. Employers claim a credit for the social security and Medicare taxes paid on tips.

The work is the same in every industry: we learn your business and your financial picture, build a year-round strategy around your situation, not a template, and handle returns, bookkeeping and compliance on time. See all our services.