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Accounting and Bookkeeping Services in Roanoke, Virginia
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 Roanoke 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 Roanoke 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 accountant. Strategic planning helps minimize your business tax liability in Virginia 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 Roanoke, 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 Virginia with our complimentary incorporation services. Simply cover any Roanoke 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 | 4.30% |
| County Tax Rate | 1% |
| Municipal Tax Rate | 1% |
| Combined Sales Tax Rate | 5.3% |
| City-Specific Taxes |
|---|
| Roanoke businesses must pay the Business Professional and Occupational License (BPOL) Tax, which is assessed on gross receipts. Tax rates vary by business type, with rates up to $0.58 per $100 of gross receipts. |
| Licenses and Permits |
|---|
| Businesses in Roanoke, Virginia must obtain a Business License before starting operations. This license must be renewed annually by March 1. |
| Trust Taxes registration may be required for businesses collecting taxes such as Admissions, Prepared Food and Beverage, or Transient Occupancy. |
| Grants and Funding in Roanoke | Grants and Funding Information |
|---|---|
| Roanoke County Economic Development Authority’s Business Equipment Acquisition Program (BEAP) Grant | This program offers grants up to $20,000 to for-profit businesses in Roanoke County or the Town of Vinton, covering up to 50% of capital acquisition costs for eligible items like furniture, fixtures, and office equipment. |
| Business Equipment Incentive Program (City of Roanoke) | The City of Roanoke's Economic Development Authority provides a 50/50 match grant with a maximum award of $20,000 for equipment purchases to assist local businesses in expanding their operations. |
| Virginia Small Business Financing Authority (VSBFA) | This authority offers various financing options, including loans, credit enhancements, and bond financing for businesses and non-profits seeking to grow and invest in Virginia. |
| Commonwealth Commercialization Fund (CCF) | Available statewide, this fund provides grants up to $75,000 to Virginia-based for-profit technology companies to support early technology and market validation efforts. |
What to Look for in Roanoke, Virginia Accounting and Bookkeeping Services
Certifications and State Compliance: Ensure the accountant or bookkeeper has the appropriate certifications, such as being a Certified Public Accountant (CPA). They should also be well-versed in Virginia'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 Roanoke. This includes familiarity with the city's prominent industries, such as healthcare, manufacturing, and transportation, as this knowledge can impact financial decision-making and tax planning.
Knowledge of State Tax Incentives: Virginia offers business-friendly tax incentives, including credits for job creation, investment in enterprise zones, 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 Roanoke
Additional Accounting Resources:
How to Calculate Quarterly Estimated Taxes in 2024
Virtual Bookkeeping: How To Find the Best Online Bookkeeper
How Much Will A CPA Cost (And Save) Your Small Business?
*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.