Tax Planning, Tax Preparation & Bookkeeping in Louisville, KY
Framework Advisory is a Louisville accounting and tax advisory firm. We plan taxes and advise owner-led businesses year-round, not just at filing time, and prepare the returns and keep the books behind that plan. Our deepest experience is in the industries Louisville runs on: contractors and the trades, real estate, manufacturing, medical practices, and product sellers.
Call (502) 805-7768 or book a free consultation.
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What we do for Louisville businesses and owners
Tax planning
Year-round planning while there's still time to act: retirement contributions, equipment timing, deductions specific to your industry.
Quarterly estimates
Estimated payments recalculated against real, current-year numbers, not last year's return.
Tax preparation
Business and personal returns, plus Kentucky and Louisville Metro occupational returns, prepared together so the numbers tie out.
Bookkeeping
Books kept current through the year, so estimates, deductions and the return all work from the same numbers.
Entity, S-corp and payroll setup
Whether an LLC, S corporation or restructure fits your numbers, and the payroll setup an S-corp election needs.
Business advisory
Cash forecasting and scenario modeling for the decisions in front of you.
Areas we serve: Louisville and Jefferson County, including Jeffersontown, Middletown, St. Matthews, Anchorage, Lyndon, and across the river in Southern Indiana.
What's different about running a business in Louisville
The federal return is the same everywhere. These are the layers a Louisville business owner deals with that a generic online service tends to miss.
Louisville Metro occupational license tax
On top of federal and Kentucky income tax, a Louisville business files a net profits license tax return with the Louisville Metro Revenue Commission, and employers withhold occupational tax from wages. It is its own return with its own deadlines, and it is easy to miss in the first year of a new entity.
Work outside Jefferson County
Other Kentucky cities and counties levy their own occupational license taxes. A contractor or service business that does work in more than one of them can owe tax in each, with net profits apportioned between them, instead of only paying Louisville.
Kentucky's LLET on top of income tax
Most LLCs and corporations owe Kentucky's Limited Liability Entity Tax in addition to regular income tax, including some that owe little or no income tax. It belongs in the entity decision, not discovered after it.
Crossing the river
Kentucky and Indiana have a reciprocal agreement for wages, which helps employees who live on one side and work on the other. It does not cover business income, so a Louisville business with work or owners in Southern Indiana still needs the Indiana side handled.
Inventory is taxed as property
Kentucky taxes business tangible property, including inventory, through an annual property tax return, and offers an income tax credit for inventory tax paid. Manufacturers and product sellers should be claiming that credit every year.
- Louisville Occupational License Tax (Form OL-3)
Who files, the 2.2% and 1.45% rates, apportionment, estimated payments, extensions and penalties, from the Revenue Commission's own instructions.
- Kentucky LLET and Form 725 for Single-Member LLCs
Why a disregarded LLC still files in Kentucky: the $175 minimum, the $3 million threshold, the credit on your own return, due dates and penalties.
- Kentucky's Pass-Through Entity Tax Election
When an S corporation or partnership should pay its owners' Kentucky tax itself to get around the federal SALT cap, and the deadline to decide.
- Louisville Short-Term Rental Taxes and Registration
The $250 Metro registration, 8.5% Metro room tax, 1% state room tax, 6% sales tax and occupational tax, and what Airbnb and VRBO do and don't handle.
Common questions
Is Framework Advisory based in Louisville?+
Yes. The firm started in Louisville and it is still home base. We also hold licenses in eight other states and work with clients outside Kentucky through our secure client portal.
Is Framework Advisory the same firm as Gorman Hardin CPA & Consulting?+
Yes. Gorman Hardin CPA & Consulting is the firm's former name. Same people, same phone number, (502) 805-7768.
Do you prepare tax returns, or only plan?+
Both. We prepare business and personal returns, including the Kentucky and Louisville Metro occupational returns, and we plan the year ahead so the return holds fewer surprises.
What local taxes does a Louisville business have to file?+
Beyond federal and Kentucky returns, most Louisville businesses file a net profits license tax return with the Louisville Metro Revenue Commission and withhold occupational tax from employee wages. Work done in other Kentucky cities or counties can create filings there too.
Do you only work with Louisville businesses?+
No. Louisville is home, but everything runs through the same portal wherever you are, so clients across the other states we're licensed in get the same advisor and the same process.
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