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Accounting and Bookkeeping Services in Fargo, North Dakota
Fargo business owners trust 1-800Accountant's experienced CPAs and bookkeepers to handle their financial needs, from tax preparation to payroll, so they can focus on building successful companies.
Our Accounting Services for Fargo 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 Fargo 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 North Dakota 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 Fargo, 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 North Dakota with our complimentary incorporation services. Simply cover any Fargo 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 | 5.00% |
| County Tax Rate | 0.50% |
| Municipal Tax Rate | 2.25% |
| Combined Sales Tax Rate | 7.75% |
| City-Specific Taxes |
|---|
| Fargo businesses with employees must pay an Unemployment Insurance Tax administered by Job Service North Dakota. Rates range from 0.2% to 9.1% on the first $39,400 of each employee’s annual wages. Payments are due quarterly on January 31, April 30, July 31, and October 31. |
| Licenses and Permits |
|---|
| The following businesses require city-specific licensing in Fargo: contractors (HVAC, plumbers), pawnbrokers and secondhand dealers, transportation-related businesses, tree and landscape contractors. |
| Most businesses must register their entity (LLC, corporation, partnership) with the North Dakota Secretary of State. |
| Businesses selling tangible goods or taxable services need to obtain a sales and use tax permit from the North Dakota Office of State Tax Commissioner. |
| Grants and Funding in Fargo | Grants and Funding Information |
|---|---|
| Innovate ND | This state-funded voucher reimbursement program helps North Dakota entrepreneurs advance their businesses by supporting customer and market research. Businesses can receive up to $22,500 in reimbursement funding. |
| North Dakota Development Fund | This program provides flexible gap financing for new or expanding primary sector businesses in North Dakota. The fund can invest up to $3,000,000 per borrower, with average loan sizes of $300,000. Funds may be used for working capital, purchase of fixed assets, real property and equipment, expansion of existing facilities, and inventory purchases. |
| Innovation Technology Loan Fund | This program supports technology advancement by providing financing for commercialization of intellectual property within North Dakota. It targets industries that will contribute to the diversification of the state's economy. |
| GFMEDC Funding Partners Program | The Greater Fargo Moorhead Economic Development Corporation offers this program for projects that need additional financing gaps addressed. Projects are considered on a case-by-case basis and can involve other funding partners such as the ND Development Fund and Bank of North Dakota. |
What to Look for in Fargo, North Dakota Accounting and Bookkeeping Services
When choosing an accountant or bookkeeper for your Fargo small business, you should consider the following factors:
Certifications and State Compliance: Seek professionals with appropriate credentials such as CPAs or certified bookkeepers who demonstrate proficiency in North Dakota's tax regulations. Your financial professional should stay current with North Dakota's specific compliance requirements and tax filing deadlines that affect Fargo businesses.
Experience with Local Industries: Find accountants familiar with Fargo's growing tech sector and agricultural businesses. A financial professional who understands the tax implications for tech startups or AgTech companies can provide more valuable guidance than one without this specialized knowledge. This expertise becomes particularly valuable given Fargo's position as an emerging tech hub with companies like Microsoft and the growing "Epicenter of AgTech" initiative.
Understanding of Regional Economic Factors: Work with professionals who comprehend the unique economic landscape of the Red River Valley. Your accountant should understand how Fargo's growing tech presence, agricultural foundations, and corporate headquarters like Bobcat influence local business conditions and financial planning strategies.
Knowledge of State and Local Tax Incentives: North Dakota offers various tax advantages that Fargo businesses can utilize. A knowledgeable accountant will help you navigate potential tax benefits related to North Dakota's business-friendly climate, including specific incentives for the tech industry and agricultural innovation that align with Fargo's economic development priorities.
Talk to a business tax expert today for all your tax needs in Fargo.
Additional North Dakota 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.