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Accounting and Bookkeeping Services in Grand Prairie, Texas
Grand Prairie business owners trust 1-800Accountant's experienced CPAs and virtual accounting team to handle their bookkeeping and tax needs, freeing them to focus on growth and profitability.
Our Accounting Services for Grand Prairie 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 Grand Prairie 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 Texas 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 Grand Prairie, 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 Texas with our complimentary incorporation services. Simply cover any Grand Prairie 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 | 6.25% |
| County Tax Rate | None |
| Municipal Tax Rate | 2.00% |
| Combined Sales Tax Rate | 8.25% |
| City-Specific Taxes |
|---|
| Texas has a Franchise Tax that most businesses in Grand Prairie must pay. It is a state tax on annual revenue above $1,230,000, at 0.375% for wholesalers and retailers and 0.75% for other businesses. Returns and payments are due every year by May 15. |
| Licenses and Permits |
|---|
| All Grand Prairie businesses must obtain a Certificate of Occupancy, even home-based businesses. |
| Food establishments require a health permit from the Environmental Quality Division. |
| Businesses performing environmental activities (handling hazardous waste, grease traps, stormwater) need special permits. |
| Texas requires all businesses selling taxable goods or services to obtain a Sales Tax Permit through the Texas Comptroller. |
| Businesses must file an annual Business Personal Property rendition with the county appraisal district for property tax purposes. |
| Grants and Funding in Grand Prairie | Grants and Funding Information |
|---|---|
| Business Vitality Program | The City of Grand Prairie offers grants of up to $45,000 per business through this program, designed to improve business facilities in the Central Business Area. Eligible improvements include exterior renovations visible from public right-of-way (awnings, windows, doors, signage), interior improvements for unique businesses, and mural creation with maximum funding of $10,000. Applications are reviewed by a committee including the Downtown Manager, Downtown Coordinator, and a City Manager's Office representative. |
| Texas Workforce Commission Skills for Small Business Program | This program offers funding to assist small businesses in training full-time employees through local community or technical colleges. Eligible businesses with fewer than 100 employees can receive up to $1,800 annually for new employees and up to $900 annually for existing employees. The program aims to enhance workforce skills and business competitiveness. |
| Community Development Block Grant | While primarily for non-profit organizations, this grant program provides funding for public services in Grand Prairie. Businesses partnering with non-profits or operating in designated community development areas may find opportunities through this program to support economic development initiatives in underserved areas. |
| Small Business Resources | The City of Grand Prairie maintains a comprehensive directory of small business resources, including information about additional grants, loans, and support services provided by local partners and state government agencies. This resource hub can help businesses identify funding opportunities beyond the city-specific programs. |
What to Look for in Grand Prairie, Texas Accounting and Bookkeeping Services
When choosing an accountant or bookkeeper for your Grand Prairie small business, you should consider the following factors:
Certifications and State Compliance: Verify that your financial professional holds proper credentials, such as CPA licensure. They should demonstrate thorough knowledge of Texas tax regulations, including the state's no personal income tax structure and its business tax requirements like the Texas Franchise Tax that affects many Grand Prairie businesses.
Industry-Specific Experience: Select an accountant familiar with Grand Prairie's diverse economic landscape. Look for professionals who have worked with businesses in entertainment and tourism (like those supporting Epic Waters or Lone Star Park), retail operations (particularly important given the significance of Grand Prairie Premium Outlets), or manufacturing and logistics companies that leverage the city's strategic location between Dallas and Fort Worth.
Understanding of Local Economic Conditions: Choose a financial partner who comprehends Grand Prairie's unique position within the DFW metroplex. They should recognize how the city's growing entertainment sector, expanding retail presence, and established manufacturing base create specific financial opportunities and challenges for local businesses.
Knowledge of Texas Tax Advantages: Find an accountant who can help your business benefit from Texas's business-friendly tax structure. This includes maximizing deductions related to property taxes (which can be substantial in Texas) and identifying industry-specific incentives that might apply to businesses in Grand Prairie's growing sectors like entertainment, hospitality, and retail.
Talk to a business tax expert today for all your tax needs in Grand Prairie.
Additional Texas Accounting Resources:
Navigating Small Business Taxes in Texas
How to Start a Business in Texas: 10 Steps
How to Set Up an S Corp in Texas
*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.