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Accounting and Bookkeeping Services in Baltimore, Maryland
Small business owners in Baltimore and across Maryland can rely on 1-800Accountant for expert tax preparation, bookkeeping, and advisory services tailored to maximize savings and ensure compliance.
Our Accounting Services for Baltimore Small Businesses
Business Tax Preparation: Entrust your tax preparation to a CPA who understands Baltimore's business landscape. Our experienced professionals, with an average of 17 years in the field, can help you navigate Maryland's tax regulations and potentially save thousands annually. From Inner Harbor startups to established Federal Hill firms, we tailor our approach to your industry's specific needs.
Bookkeeping: Build a solid financial foundation with precise, error-free bookkeeping that saves time and provides crucial insights for your Baltimore business. Our meticulous process delivers easy-to-understand reports that empower you to make informed decisions. Whether you're managing a bustling Fells Point restaurant or a growing tech company in Canton, our bookkeeping services adapt to your unique needs.
Tax Advisory: Baltimore's business climate is constantly evolving. Our year-round tax advisory service connects you with a dedicated small business tax advisor who understands local and state regulations. We'll help you plan strategically to minimize your Maryland tax liability while ensuring compliance, whether you're expanding to new neighborhoods or navigating industry-specific challenges.
Payroll: Simplify your payroll process and free up valuable time to focus on growing your Baltimore business. Our comprehensive services handle regular tax submissions to both the city and state, ensuring accuracy and compliance. From small Hampden boutiques to large downtown corporations, we tailor our payroll solutions to fit your specific needs.
Business Formation: Take the first step in establishing your Maryland business with our complimentary incorporation services. We'll guide you through the process, managing the paperwork while you cover any necessary Baltimore and state fees. This sets you on the path to hiring employees, opening a business bank account, and enjoying the benefits of an optimized structure tailored to Maryland's business environment.
Filing your business taxes online with 1-800Accountant is quick and easy:
- Provide required personal and business information.
- Review and select your online business tax preparation service and complete your purchase.
- Log in to your 1-800Accountant Portal and upload documents critical to preparing and filing your taxes.
| Level | Rate |
|---|---|
| State Tax Rate | 6.00% |
| County Tax Rate | 0% |
| Municipal Tax Rate | 0% |
| Combined Sales Tax Rate | 6.00% |
City-Specific Taxes |
|---|
| Baltimore has a Real Property Tax that many businesses must pay if they own real estate within the city limits. The tax is charged at a rate of $2.248 per $100 of assessed value. |
Licenses and Permits |
|---|
| Most businesses in Baltimore need a general business license to operate legally. |
Businesses involved in buying and reselling goods require a Trader's License, with fees ranging from $15 to $800 based on inventory value. |
Businesses placing signs or awnings in public areas need a Minor Privilege Permit. |
Grants and Funding in Baltimore | Grants and Funding Information |
|---|---|
| Business Boost Grants | Offered by the Maryland Department of Housing and Community Development, these microgrants range from $20,000 to $50,000 and are intended to support small businesses that require capital for growth or expansion opportunities. |
What to Look for in Baltimore, Maryland Accounting and Bookkeeping Services
When choosing an accountant or bookkeeper for your Baltimore small business, consider these key factors:
Certifications and State Compliance: Look for professionals who hold the correct credentials and have recognized certifications, such as a CPA. They should be familiar with Maryland tax rules and local compliance requirements, ensuring they can handle your financial records accurately within the state's guidelines.
Experience and Specialization: Choose someone who has worked with businesses in your industry. In Baltimore, expertise in sectors like healthcare, bioscience technology, and the growing tech startup scene is especially helpful. This specialized knowledge makes it easier to manage industry-specific financial matters and create strategies that align with your business goals.
Understanding of Local Economic Conditions: A local background in Baltimore matters. Professionals who understand the city's diverse economic landscape—from the influence of major healthcare institutions and the technical growth at the Inner Harbor to the historic importance of neighborhoods like Fells Point—can offer informed advice and help you make sound financial decisions.
Knowledge of State Tax Incentives: Maryland offers tax credits and incentives for various industries and business activities. An experienced professional should be able to explain how these benefits apply to your situation and advise on steps to reduce your tax liability. Their local expertise can make a real difference when navigating Maryland's tax incentives tailored to local business growth.
Talk to a business tax expert today for all your tax needs in Baltimore.
Additional Maryland Accounting Resources:
Virtual Bookkeeping: How To Find the Best Online Bookkeeper
CPA vs. Tax Preparer: Which Is Best for Your Business?
10 Common Small Business Tax Questions Owners Are Asking
*Based on a $12.2k average 2022 tax refund per client, which is 4x the cost of a full-service package. Source: first-party data.
*Includes average business tax preparation, form completion and submission, record keeping, and other misc admin time. Source.
*Historical first-party data.