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Accounting and Bookkeeping Services in Newark, New Jersey
1-800Accountant offers expert tax and bookkeeping services tailored for Newark's small businesses, helping New Jersey entrepreneurs maximize deductions and stay compliant with state regulations.
Our Accounting Services for Newark Small Businesses
Business Tax Preparation: Navigate Newark's complex tax landscape with confidence. Our CPAs, averaging 17 years of experience, specialize in local industries and regulations. By entrusting your tax preparation to our experts, you could save thousands annually while ensuring full compliance with city and state requirements.
Bookkeeping: Build a solid financial foundation for your Newark business with precise, error-free bookkeeping. Our service saves you time and provides crucial insights for data-driven decisions. We deliver clear, easy-to-understand reports that empower you to interpret your financial data effectively. This detailed process also equips your accountant with the tools to develop vital financial models tailored to Newark's unique business environment.
Tax Advisory: Tax considerations extend far beyond April in New Jersey. Our affordable, year-round tax advisory service connects you with a dedicated small business tax advisor familiar with Newark's economic landscape. We help you plan strategically to minimize your tax liability throughout the year while ensuring you meet all local and state compliance requirements.
Payroll: Reclaim hours each pay period with our comprehensive payroll services. We handle all aspects of payroll, including accurate and timely tax submissions to Newark and New Jersey authorities. This frees you to focus on growing your business in the bustling Newark market, knowing your payroll obligations are managed professionally.
Business Formation: Take advantage of New Jersey's business-friendly policies by officially establishing your company with our complimentary incorporation services. You only cover the required Newark and state fees—we manage the entire process. This sets you on the path to hiring employees and opening a business bank account, all while benefiting from an optimized structure that maximizes tax savings under New Jersey law.
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 | 6.63% |
| County Tax Rate | 0% |
| Municipal Tax Rate | 0% |
| Combined Sales Tax Rate | 6.63% |
City-Specific Taxes |
|---|
| Newark has a Payroll Tax that all businesses operating within the city must pay. The tax is calculated at a 1% rate on the total payroll. |
Licenses and Permits |
|---|
| All businesses in Newark must obtain a Trade Waste Permit for proper disposal of business-related waste. |
Businesses involving public gatherings or hazardous materials need a Fire Certificate. |
Some business types may need a Police Warrant check. |
Grants and Funding in Newark | Grants and Funding Information |
|---|---|
| Newark Business Attraction Grant | Offers up to $250,000 in non-dilutive grants for startups relocating or expanding their operations in Newark. |
| NJ Innovation Fellows Program | Provides grants ranging from $200,000 to $400,000 to teams of entrepreneurs supporting startup ventures in targeted industries. |
| Small Business Improvement Grant | Reimburses 50% of total eligible project costs, up to $50,000, for building improvements or equipment purchases for small businesses. |
What to Look for in Newark, New Jersey Accounting and Bookkeeping Services
When choosing an accountant or bookkeeper for your Newark small business, consider these key factors:
Certifications and State Compliance: Choose an accountant or bookkeeper who holds the proper qualifications, such as a CPA. They must understand New Jersey tax regulations and state compliance requirements. In Newark, professionals are familiar with the rules impacting growing sectors like transportation, health care, and technology.
Experience and Specialization: It is important to work with someone who has experience in your industry. Newark’s economy spans technology, life sciences, and financial services among other areas. A specialist in your field can address specific financial challenges and support sound long-term planning.
Understanding of Local Economic Conditions: A local expert keeps pace with Newark’s evolving market. The city's rapid growth in sectors such as tech and clean energy, along with its vibrant cultural spots like the Ironbound district and Military Park, shapes financial decisions. An accountant who understands this local landscape can offer insights relevant to your business.
Knowledge of State Tax Incentives: New Jersey offers tax credits and benefits for businesses that invest locally and create jobs. An experienced Newark accountant will help identify these incentives and provide advice on how to reduce your tax burden while taking full advantage of state opportunities.
Talk to a business tax expert today for all your tax needs in Newark.
Additional New Jersey 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.