Professional Services

Bookkeeping for Consultants, Law Firms, Engineers, and Agencies in El Paso and New Mexico

Earickson Bookkeeping and Taxes provides bookkeeping, tax preparation, and financial reporting for professional service firms in El Paso, Las Cruces, and across Texas and New Mexico. That includes consultants, attorneys, engineers, architects, and marketing and IT firms. Your product is your time and expertise, so your books should show which clients and services actually pay, how much you're owed, and what you can safely pay yourself.

What I set up for professional service firms

Revenue by client and service line. Not all revenue is equal. Seeing income broken out by client and type of work shows you where your best margins are, and which clients cost more than they bring in.

Accounts receivable that gets followed up. For most service firms, the biggest cash problem isn't sales. It's invoices sitting unpaid. I keep an aging report current so you know who's 30, 60, and 90 days late before it becomes a write-off.

Retainers and deposits recorded correctly. Money a client pays before the work is done isn't income yet. It's a liability until you earn it. Recording it right keeps you from spending money you may have to refund, and keeps your financial statements accurate.

Trust accounting for law firms. Client funds held in trust, including IOLTA accounts, must never mix with operating money. I reconcile trust accounts three ways every month: the bank statement, the trust account ledger, and each individual client's ledger. All three have to agree.

Owner pay and estimated taxes. I help you set a realistic owner draw and stay ahead of quarterly estimated taxes. If you've elected S corporation status, the IRS expects you to pay yourself a reasonable salary through payroll. I can set that up and run it.

Texas: what applies to you

• No state income tax, but franchise tax still applies to LLCs and corporations. For the 2026 and 2027 reports, an entity with annualized total revenue at or below $2,650,000 owes no franchise tax. It still has to file a Public Information Report (or Ownership Information Report) by May 15.

• Most professional services aren't subject to Texas sales tax, with exceptions. Data processing and information services are taxable in Texas. If you're in IT, data, or certain marketing work, check before assuming you're exempt.

New Mexico: services are taxable

New Mexico's gross receipts tax applies to most services, including legal, accounting, consulting, and engineering work, which would be untaxed in many other states. If you're based in El Paso and do work for New Mexico clients, that work can create New Mexico GRT obligations. I handle New Mexico GRT registration and returns as part of my service.

How I work with professional service firms

• Monthly bookkeeping and reconciliations in the online accounting software I use

• Client- and service-line reporting you can read in five minutes

• Trust account reconciliations for law firms

• Payroll, including S corporation owner salary

• Business and individual tax preparation

• Fractional CFO support (pricing, hiring decisions, forecasting) for firms that are growing

Frequently asked questions

I'm a solo consultant. Do I really need a bookkeeper?

If you're tracking income in a spreadsheet and guessing at quarterly taxes, a bookkeeper usually pays for themselves. You get accurate deductions, no underpayment penalties, and an hour back each week. Many solo clients only need a light monthly package.

Are my consulting services subject to sales tax?

In Texas, most professional and consulting services aren't, but data processing and information services are. In New Mexico, most services are subject to gross receipts tax. Where the work is performed, and where its results are delivered, matters.

Does my Texas LLC owe franchise tax?

If your annualized total revenue is at or below $2,650,000 (the threshold for 2026 and 2027 reports), you owe no franchise tax. You still have to file a Public Information Report or Ownership Information Report by May 15.

How do you handle law firm trust accounts?

Trust funds are tracked by client and reconciled monthly against both the bank statement and each client's ledger. Operating funds stay completely separate.

Want to see which clients really pay? Schedule a New Client Call.

Official sources: Texas Comptroller, Franchise Tax · Texas Comptroller, Sales and Use Tax · New Mexico Taxation and Revenue Department · Texas Access to Justice Foundation, IOLTA

General information, current as of October 2026. Not tax or legal advice for your specific situation.