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Accounting and Bookkeeping Services in Salt Lake City, Utah
1-800Accountant offers expert virtual tax and bookkeeping services tailored for Salt Lake City's small businesses, helping Utah entrepreneurs maximize deductions and stay compliant with state regulations.
Our Accounting Services for Salt Lake City Small Businesses
Business Tax Preparation: Navigate Salt Lake City's tax landscape with confidence. Our CPAs average 17 years of experience in local industries, often saving businesses thousands annually. We handle the complexities of Utah tax codes, allowing you to focus on growing your business in the Wasatch Front.
Bookkeeping: Gain clarity on your financial position with precise, timely bookkeeping. Our services go beyond data entry, providing insights that drive smart business decisions. We create easy-to-understand reports tailored to Salt Lake City businesses, giving you and your accountant the tools to develop strategic financial models.
Tax Advisory: Stay ahead of Utah's tax regulations year-round. Our affordable advisory service pairs you with a dedicated small business tax advisor familiar with local laws. We help you plan strategically, minimizing your tax liability while ensuring compliance with both state and Salt Lake City requirements.
Payroll: Simplify your payroll process and free up valuable time. We manage all aspects, including accurate tax submissions to Salt Lake City and Utah authorities. This allows you to concentrate on serving your customers and expanding your business presence along the Silicon Slopes.
Business Formation: Establish your business in Utah hassle-free. We handle the incorporation process at no extra charge—you only cover the necessary state and city fees. This sets you up to hire employees, open a business bank account, and take advantage of Utah's business-friendly environment while optimizing your tax position.
Level | Rate |
|---|---|
State Tax Rate | 4.85% |
County Tax Rate | 1.35% |
Municipal Tax Rate | 1.00% |
Salt Lake Co Transit | 1.05% |
Combined Sales Tax Rate | 8.25% |
City-Specific Taxes |
|---|
| Salt Lake City has a Business Licensing Fee that all businesses must pay. Home occupation businesses are charged $121, while non-home occupations pay $153—plus an extra $22 per employee if the business has more than one employee, along with a $175 fee for background checks if applicable. |
Licenses and Permits |
|---|
| All businesses operating within Salt Lake City limits must obtain a business license before conducting operations. |
Home-based businesses in Salt Lake City are also required to obtain a business license. |
Salt Lake City offers an online tool called OpenCounter to help guide businesses through the permitting process. |
Grants and Funding in Salt Lake City | Grants and Funding Information |
|---|---|
| Small Business Construction Mitigation Grant | This grant provides up to $3,000 per eligible business affected by specific construction projects in Salt Lake City. It targets small, independent businesses with fewer than 50 employees and is available through Winter 2025. |
What to Look for in Salt Lake City, Utah Accounting and Bookkeeping Services
When choosing an accountant or bookkeeper for your Salt Lake City small business, consider these key factors:
Certifications and State Compliance: Look for professionals with the proper titles, such as a CPA, who have the needed credentials and are familiar with Utah's tax laws. An accountant in Salt Lake City should understand the state's specific compliance requirements and local regulations, given the area's distinct industries and growing markets.
Experience and Specialization: Choose an accountant who has experience working with businesses similar to yours. In Salt Lake City, where the technology sector known as "Silicon Slopes" and the growing healthcare, biotech, manufacturing, and tourism industries drive the economy, expertise in any one of these fields can make a difference in how financial matters are handled. A financial expert with industry-specific knowledge is better equipped to offer practical support for your business.
Understanding of Local Economic Conditions: Opt for an accountant who understands Salt Lake City's local business climate. With key industries such as technology, life sciences, manufacturing, and hospitality contributing to the city's economic growth, a knowledgeable professional can help interpret how these factors affect your financial decisions. Awareness of local trends, such as the tech workforce expansion and the steady growth in education and health services, can provide valuable insight for planning and tax strategies.Knowledge of State Tax Incentives: Utah offers incentives that can benefit local businesses, including credits for job growth, capital investments, and advantages for specific industries. A financial professional familiar with these local tax incentives can guide you through the process and suggest ways to reduce your tax burden within the context of Salt Lake City's dynamic economic environment.
Talk to a business tax expert today for all your tax needs in Salt Lake City.
Additional Utah Accounting Resources:
Top 7 Questions to Ask an Accountant
CPA vs. Tax Preparer: Which Is Best for Your Business?
10 Common Small Business Tax Questions
*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.