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Accounting and Bookkeeping Services in McKinney, Texas
1-800Accountant, America's leading virtual accounting firm for small businesses in McKinney, Texas, 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 McKinney 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 seasoned CPAs can save you thousands annually when you delegate complex McKinney and Texas 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 McKinney, 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 McKinney 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.
| Level | Rate |
|---|---|
| State Tax Rate | 6.25% |
| County Tax Rate | 0% |
| Municipal Tax Rate | 2% |
| Combined Sales Tax Rate | 8.25% |
| City-Specific Taxes |
|---|
| McKinney businesses must pay property taxes to Collin County on both real and personal property assets used in their business. The tax amount is based on the appraised value of the property. All businesses must file a business personal property rendition form annually with the Collin Central Appraisal District, listing all tangible personal property used to generate income. |
| Licenses and Permits |
|---|
| The following businesses require city-specific licensing in McKinney, Texas: all businesses, including home-based operations and independent contractors, must obtain a Business Registration Certificate. |
| Restaurants and cafes need a Food Service License from the health department. |
| To operate under an assumed name (DBA), businesses must file an Unincorporated Assumed Name Certificate with the Collin County Clerk's office. |
| Grants and Funding in McKinney | Grants and Funding Information |
|---|---|
| McKinney Economic Development Corporation (MEDC) Innovation Fund | Offers up to $50,000 in Growth grants for early-stage technology startups establishing their headquarters in McKinney. |
| MCDC Retail Development Infrastructure Grants | Provide funding up to $50,000 for infrastructure improvements to landmark retail properties, with a required 25% match. |
| Skills for Small Business Grant | Supports training for new and existing employees in small businesses with fewer than 100 employees. |
What to Look for in McKinney, Texas 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 title and certifications, such as working as a CPA. They should also be fluent in Texas's specific tax regulations and compliance requirements.
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 McKinney. This includes familiarity with the city's prominent industries, such as advanced manufacturing, healthcare, information technology, and aerospace, as this knowledge can impact financial decision-making and tax planning.
Knowledge of State Tax Incentives: Texas offers business-friendly tax incentives, including credits for economic development, manufacturing, renewable energy, and hiring certain demographics. 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 McKinney
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.