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Accounting and Bookkeeping Services in Lubbock, Texas
1-800Accountant offers expert virtual accounting services for Lubbock's small businesses, helping entrepreneurs navigate Texas tax laws while maximizing deductions and focusing on growth.
Our Accounting Services for Lubbock Small Businesses
Business Tax Preparation: Navigate Lubbock's unique business landscape with confidence. Our CPAs average 17 years of experience in local industries, helping you comply with Texas regulations while uncovering substantial savings. By entrusting your tax preparation to our experts, you can focus on growing your Lubbock enterprise.
Bookkeeping: Build a strong financial foundation for your Lubbock business with precise, reliable bookkeeping. Our service saves you time and provides clear insights to guide your decisions. We deliver easy-to-understand reports that translate complex data into actionable information, empowering your accountant to create tailored financial models for your Texas-based company.
Tax Advisory: Tax considerations extend beyond April in the Lone Star State. Our affordable advisory service connects you with a dedicated small business tax advisor year-round. We help you navigate Texas tax laws, develop strategies to reduce your liability, and ensure compliance with local Lubbock regulations.
Payroll: Simplify your payroll process and reclaim valuable time each pay period. Our comprehensive service handles wage calculations, tax withholdings, and timely submissions to Lubbock authorities. This ensures accuracy and compliance, allowing you to concentrate on serving your West Texas customers and growing your business.
Business Formation: Take the first step towards establishing your Lubbock enterprise with our complimentary incorporation service. We manage the paperwork while you cover any required Texas fees. This sets you up to hire employees, open a business bank account, and enjoy the benefits of an optimized structure tailored to Lubbock'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 | 6.25% |
County Tax Rate | 0.50% |
Municipal Tax Rate | 1.50% |
Combined Sales Tax Rate | 8.25% |
City-Specific Taxes |
|---|
| Lubbock businesses that own real property are subject to a Property Tax assessed at rates ranging from $1.96 to $2.15 per $100 of valuation. This annual tax is managed by the Lubbock Central Appraisal District and collected by the Lubbock County Tax Assessor-Collector. |
Licenses and Permits |
|---|
| Businesses operating under an assumed name in Lubbock must complete a DBA registration. |
Construction or modification businesses in Lubbock are required to obtain building permits. |
Certain specialized activities in Lubbock may require Fire Marshal approval. |
Grants and Funding in Lubbock | Grants and Funding Information |
|---|---|
| South Plains Regional Small Business Innovation Center | Established with a $2.2 million grant from the U.S. Department of Commerce, offering resources and technical assistance to small businesses across 15 counties, including Lubbock. |
| Market Lubbock Inc. Grants | Offers two types of downtown renovation funding: Façade Grants (up to 50% reimbursement for exterior work) and Permittable Grants (up to 10% reimbursement for interior work), with an annual budget of $750,000. |
What to Look for in Lubbock, Texas Accounting and Bookkeeping Services
When choosing an accountant or bookkeeper for your Lubbock small business, consider these key factors:
Certifications and State Compliance: When selecting your accounting partner, make sure the professional holds the proper titles and credentials, such as a CPA. They should have a solid understanding of Texas tax rules and the specific compliance requirements within Lubbock. Given the importance of industries like manufacturing and agriculture in the area, a well-qualified accountant can manage state and local regulations that impact companies like Leprino Foods or cotton growers central to our region.
Experience and Specialization: Look for experts who have worked with businesses similar to yours. In Lubbock, where sectors such as technology, health services, and education play key roles, an accountant familiar with these industries can manage specialized reporting and industry-related financial issues competently. Their track record with local businesses—from tech startups contributing significantly to the local economy to established educational institutions like Texas Tech University—should be a point of consideration.
Understanding of Local Economic Conditions: A professional who truly understands Lubbock’s unique economic ecosystem can offer insights that impact smarter financial planning. The city’s diverse sectors, ranging from agriculture and food processing to construction driven by a growing population, require a nuanced approach. Their familiarity with local trends, whether it’s manufacturing developments or shifts in the tourism market highlighted by attractions like the Buddy Holly Center, adds practical context to their advice.
Knowledge of State Tax Incentives: Texas presents various tax incentives geared towards job creation, capital investment, and specific industry benefits. An accountant who is well-versed in these provisions can provide advice tailored to your business needs. For companies benefiting from Lubbock’s favorable business environment—whether in financial services experiencing rapid job growth or in sectors like health and education—they can pinpoint opportunities to minimize tax obligations while supporting your long-term growth.
Talk to a business tax expert today for all your tax needs in Lubbock.
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.