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Accounting and Bookkeeping Services in Manhattan, 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 Manhattan Small Businesses
Business Tax Preparation: Have your taxes prepared and filed by an accountant 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 New York City and New York State 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 New York City and New York State 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 and New York State, 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% |
| Metropolitan Commuter Transportation District Tax | 0.11%-0.60% |
| Combined Sales Tax Rate | 8.88% |
| City-Specific Taxes |
|---|
| New York City imposes a 4% Unincorporated Business Tax (UBT) on owners of some unincorporated businesses conducting business in the city. |
| Licenses and Permits |
|---|
| The following businesses require licenses in Manhattan: General vendors without a retail location, food establishments and handlers, professional services (e.g., doctors, lawyers), retail businesses. |
| All businesses must obtain a Sales Tax Certificate to collect and pay state sales taxes. |
| Grants and Funding in Manhattan | Grants and Funding Information |
|---|---|
| Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Programs | These programs offer grants for research and development of new technologies, supporting small businesses in scientific and technological innovation. |
| Global NY State Trade Expansion Program (STEP) | Provides reimbursable grants of up to $10,000 to small and medium-sized businesses to enhance competitiveness in the export market. |
| NYC Small Business Services (SBS) Grant Program | Offers various grants, including a $5,000 grant for resiliency equipment through the Business Preparedness and Resiliency Program. |
| NYC Small Business Opportunity Fund | Provides loans up to $250,000 at a 4% fixed interest rate, supporting startup and growth-stage businesses with no minimum credit score required. |
What to Look for in Manhattan, 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 has the right titles and certifications, such as a Certified Public Accountant (CPA) license. They should also be fluent in New York State's specific tax regulations and compliance requirements, especially those that affect businesses in Manhattan.
Experience and Specialization: Search for professionals with experience in your specific industry. Specialized knowledge is crucial for managing industry-specific financial matters and for strategic long-term planning.
Understanding of Local Economic Conditions: Opt for a professional who understands the local economic environment in Manhattan. This includes familiarity with the city's prominent industries, such as finance, real estate, fashion, media, and technology, as this knowledge can impact financial decision-making and tax planning.
Knowledge of State Tax Incentives: New York offers various tax incentives and credits to businesses, including programs for job creation, investment in certain areas, and research and development activities. 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 Manhattan.
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.