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Accounting and Bookkeeping Services in Elizabeth, New Jersey
Small businesses in Elizabeth trust 1-800Accountant's experienced CPAs to manage their books, maximize tax deductions, and handle compliance so owners can concentrate on growth.
Our Accounting Services for Elizabeth Small Businesses
Business Tax Preparation: Have your taxes prepared and filed by a CPA with expertise in your industry 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 Elizabeth tax preparation to them!
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 Jersey throughout the year while ensuring compliance.
Payroll: Save hours each pay period with comprehensive payroll services handled for you, with regular tax submissions to the city of Elizabeth, ensuring accuracy and freeing you to focus on other vital aspects of your business.
Business Formation: Enjoy the advantages of officially establishing your business in New Jersey with our complimentary incorporation services. Simply cover any Elizabeth 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.
Discussing your business taxes with 1-800Accountant is quick and easy:
- Set up a time for us to give you a call.
- Tell us what’s going on with your business.
- Get matched with an accountant who knows your industry & local regulations.
| Level | Rate |
|---|---|
| State Tax Rate | 6.63% |
| County Tax Rate | None |
| Municipal Tax Rate | None |
| Combined Sales Tax Rate | 6.63% |
| Urban Enterprise Zone Reduced Sales Tax Rate | 3.3125% |
| City-Specific Taxes |
|---|
| Businesses that own real property in the City of Elizabeth must pay the annual Real Property Tax levied by the City of Elizabeth, Union County and the Elizabeth Board of Education. The rate varies each year based on the combined millage per $100 of assessed value. Quarterly installments are due February 1, May 1, August 1 and November 1. |
| Licenses and Permits |
|---|
| All businesses in Elizabeth, New Jersey must register with the State of New Jersey before applying for local permits. |
| The following businesses require city-specific licensing in Elizabeth: food establishments (restaurants, cafes, food trucks), public garages (auto repair shops, service centers), retail businesses (stores, e-commerce with physical locations), professional services (accounting, consulting, real estate offices). |
| Small businesses must obtain a Certificate of Occupancy before operating from any commercial location in Elizabeth. |
| New Jersey requires sales tax registration for all retail and e-commerce businesses selling taxable goods or services. |
| Grants and Funding in Elizabeth | Grants and Funding Information |
|---|---|
| Small Business Improvement Grant | This program reimburses up to 50% of eligible project costs for building improvements, renovations, or new equipment purchases. Small businesses and nonprofits in Elizabeth can receive up to $50,000 per business. Projects must have started on or after March 9, 2020, and within two years prior to application. Applications are accepted on a rolling basis until funds are exhausted. |
| New Jersey Department of State Grant Opportunities | The NJ Department of State offers various grant opportunities relevant to business development throughout the year. Grant cycles and due dates vary, with programs designed to support different business needs. Elizabeth businesses should regularly check the Department's grants page for new opportunities as they become available. |
| Union County Small Business Grant Program | This county-level program provides financial assistance specifically for small businesses operating in Union County, including Elizabeth. The program aims to help local businesses recover from economic challenges and support growth initiatives. Eligibility requirements and award amounts are updated with each funding cycle. |
| New Jersey Economic Development Authority Programs | The NJEDA administers several programs beyond the Small Business Improvement Grant that Elizabeth businesses may qualify for. These include low-interest loans, technical assistance, and specialized funding for different business sectors. Businesses should consult the NJEDA website for current opportunities that match their specific needs. |
What to Look for in Elizabeth, New Jersey Accounting and Bookkeeping Services
When choosing an accountant or bookkeeper for your Elizabeth small business, you should consider the following factors:
Certifications and State Compliance: Seek accountants with proper credentials, particularly CPAs familiar with New Jersey's tax laws. Elizabeth businesses must navigate both state requirements and specific Union County regulations. A qualified professional will understand New Jersey's corporate business tax structure and the annual reporting requirements that differ from neighboring states.
Experience with Port-Related Businesses: Elizabeth's economy is significantly influenced by Port Newark-Elizabeth Marine Terminal, one of the largest container ports in the nation. Find an accountant experienced with import/export businesses, logistics companies, and warehouse operations who understands the complex tax implications and reporting requirements for businesses connected to port activities.
Multicultural Business Expertise: Elizabeth's diverse community includes thriving Colombian, Portuguese, and Salvadoran business districts. Look for accounting professionals who understand the unique needs of immigrant-owned businesses, including potential international tax implications and multilingual services that can help bridge communication gaps for business owners from various backgrounds.
Knowledge of Urban Enterprise Zone Benefits: Elizabeth is part of New Jersey's Urban Enterprise Zone program, offering reduced sales tax collection (3.5% instead of 7%), tax credits for hiring, and other financial incentives. A knowledgeable accountant can help you maximize these benefits, properly document UEZ-eligible transactions, and ensure compliance with program requirements to maintain your business's qualifying status.
Talk to a business tax expert today for all your tax needs in Elizabeth.
Additional New Jersey Accounting Resources:
New Jersey Small Business Tax Guide: Stay Compliant and Informed
Virtual Bookkeeping: How To Find the Best Online Bookkeeper
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.