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Accounting and Bookkeeping Services in Sarasota, Florida
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 Sarasota 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 Florida tax preparation to them!
Business Formation: Enjoy the advantages of officially establishing your business in Florida with our complimentary incorporation services. Simply cover any Sarasota 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 Florida 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 Sarasota, ensuring accuracy and freeing you to focus on other vital aspects of your business.
| Level | Rate |
|---|---|
| State Tax Rate | 6% |
| County Tax Rate | 1% |
| Municipal Tax Rate | 0% |
| Combined Sales Tax Rate | 7% |
| City-Specific Taxes |
|---|
| Businesses in Sarasota County must pay a combined sales and use tax rate of 7%. |
| Licenses and Permits |
|---|
| Must obtain a Business Tax Receipt to operate legally. This applies to all businesses within city limits. |
| Businesses must also comply with Tangible Personal Property Tax requirements by filing a return with the Property Appraiser. |
| Grants and Funding in Sarasota | Grants and Funding Information |
|---|---|
| Florida State Small Business Credit Initiative (SSBCI) | Offers programs like the Collateral Support Program and Loan Guarantee Program to help Florida-based small businesses with up to 500 employees access financing for various business needs. |
| Microfinance Loan Program | Provides short-term loans up to $50,000 to small businesses in Sarasota County, requiring participation in business training provided by the Florida SBDC Network. |
| Opportunities For All (OFA) Program | Offers grants through the Business Assistance Funds Program to businesses that are at least 51% ethnic minority-owned in the Sarasota/Manatee region. |
| Community Foundation of Sarasota County | Provides grants like Programmatic Grants and Capacity Building Grants aimed at nonprofit organizations, benefiting businesses collaborating with nonprofits. |
What to Look for in Sarasota, Florida 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 appropriate certifications, such as being a Certified Public Accountant (CPA). They should be well-versed in Florida'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 Sarasota. This includes familiarity with the city's prominent industries, such as tourism, healthcare, real estate, and arts and culture, as this knowledge can impact financial decision-making and tax planning.
Knowledge of State Tax Incentives: Florida offers business-friendly tax incentives, including credits for capital investment, research and development, and incentives for businesses in targeted industries. 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 Sarasota
Additional Florida Accounting Resources:
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Florida’s Tax Rates For Small Businesses and Corporations
How To Register Your Small Business In Florida
How Much Does It Cost to Set up an S Corp in Florida?
*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.