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Accounting and Bookkeeping Services in Brooklyn, New York
1-800Accountant, America's leading virtual accounting firm for small businesses, offers seamless end-to-end bookkeeping and accounting services handled by experts designed to give you peace of mind and the extra time you need to focus on building your business.
Our Accounting Services for Brooklyn Small Businesses
Business Tax Preparation: Have your taxes prepared and filed by an accountant with expertise in your industry and deep knowledge of Brooklyn's unique tax landscape, so you're always confident in your business tax situation. Our CPAs, with more than 17 years of experience on average, can save you thousands annually when you delegate complex New York tax preparation to them!
Business Formation: Enjoy the advantages of officially establishing your business in New York with our complimentary incorporation services. Simply cover any state and city fees, and we will manage the rest. This puts you on a path to hiring employees and creating a business bank account as you experience the benefits of an optimized business structure and maximum tax savings.
Bookkeeping: Solidify your financial base and manage cash flow with precise, error-free bookkeeping done for you that saves time and provides crucial insights that empower you to make important data-backed business decisions. This meticulous process delivers essential tools for interpreting data with easy-to-understand reporting, enabling your accountant to develop vital financial modeling.
Tax Advisory: Business tax considerations don't end in April. Through our affordable tax advisory service, you can receive the guidance you need when you need it year-round from a dedicated small business tax advisor. Strategic planning helps minimize your business tax liability in New York throughout the year while ensuring compliance.
Payroll: Save hours each pay period with comprehensive payroll services handled for you, with regular tax submissions to New York City agencies, ensuring accuracy and freeing you to focus on other vital aspects of your business.
| Level | Rate |
|---|---|
| State Tax Rate | 4% |
| County Tax Rate | 0% |
| Municipal Tax Rate | 4.50% |
| Combined Sales Tax Rate | 8.88% |
| City-Specific Taxes |
|---|
| New York City imposes an Unincorporated Business Tax (UBT) of 4% on net income for sole proprietorships and partnerships operating in Brooklyn. |
| Licenses and Permits |
|---|
| The following businesses require specific licensing: Professional licenses (e.g., doctors, lawyers), foot-related permits, and general vendor license for businesses without a retail location. Use the New York Business Express Business Wizard tool to find out which licenses and permits are required for your business. |
| Grants and Funding in Brooklyn | Grants and Funding Information |
|---|---|
| Brooklyn Fund | The Brooklyn Fund offers loans up to $350,000, focusing on immigrant and veteran-owned businesses in Brooklyn. |
| Excelsior Growth Fund | Excelsior Growth Fund provides innovative financial solutions and advisory services to underserved small businesses in Brooklyn. |
What to Look for in Brooklyn, New York Accounting and Bookkeeping Services
When choosing an accountant or bookkeeper for your small business, you should consider the following factors:
Certifications and State Compliance: Ensure the accountant or bookkeeper holds the appropriate titles and certifications, such as being a Certified Public Accountant (CPA). They should be well-versed in New York State's specific tax regulations and compliance requirements, as well as any local mandates specific to Brooklyn or New York City.
Experience and Specialization: Seek professionals with experience in your specific industry. Specialized knowledge is essential for managing industry-specific financial matters and for strategic long-term planning. Whether you're involved in technology startups, manufacturing, healthcare, or the creative arts scene prevalent in Brooklyn, an accountant familiar with your field can provide invaluable insights.
Understanding of Local Economic Conditions: Choose a professional who understands the local economic environment in Brooklyn. This includes familiarity with the borough's prominent industries, such as technology, media, real estate, and small businesses. Knowledge of local market trends and economic conditions can significantly impact financial decision-making and tax planning.
Knowledge of State Tax Incentives: New York offers various business-friendly tax incentives, including credits for film and television production, employment opportunities in certain zones, and investments in renewable energy. A knowledgeable financial professional can help navigate these incentives and make recommendations to minimize your tax burden.
Talk to a business tax expert today for all your tax needs in Brooklyn.
Additional New York Accounting Resources:
A Comprehensive Guide to Small Business Taxes in New York
6 Steps to Start an LLC in New York
How Much Does It Cost to Set Up an S Corp in New York?
*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.