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Accounting and Bookkeeping Services in Spokane, Washington
Small business owners in Spokane trust 1-800Accountant's expert CPAs to handle their bookkeeping and tax needs, giving them more time to grow their businesses and serve their community.
Our Accounting Services for Spokane Small Businesses
Business Tax Preparation: Have your taxes prepared and filed by a CPA 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 Spokane 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 Washington 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 Spokane, 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 Washington with our complimentary incorporation services. Simply cover any Spokane 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.
Discussing your business taxes with 1-800Accountant is quick and easy:
- Set up a time for us to give you a call.
- Tell us what’s going on with your business.
- Get matched with an accountant who knows your industry & local regulations.
| Level | Rate |
|---|---|
| State Tax Rate | 6.5% |
| County Tax Rate | 0.0% |
| Municipal Tax Rate | 2.6% |
| Combined Sales Tax Rate | 9.1% |
| City-Specific Taxes |
|---|
| Washington imposes a Business and Occupation (B&O) tax on gross receipts for most business activities. Rates vary by classification: 1.5% for service and other activities, 0.471% for retailing, and 0.484% for wholesaling. Returns and payments are due on the 25th of the month following each reporting period, which can be monthly, quarterly or annual based on your annual tax liability. |
| Licenses and Permits |
|---|
| All businesses operating in Spokane must obtain a city business license, with fees of $131 for general businesses and $65.50 for nonprofits. |
| Businesses with multiple operations at a single location need separate registrations for each business activity. |
| Food-related businesses require food worker permits and must complete plan reviews through the Spokane Regional Health District. |
| Temporary businesses operating within city limits need to obtain a temporary business license. |
| Grants and Funding in Spokane | Grants and Funding Information |
|---|---|
| Business Investment Grants (BIG) | The Spokane Workforce Council offers these grants of up to $15,000 for small businesses serving Spokane County. Priority is given to businesses that are 51% or more owned and operated by individuals from Black, Indigenous, and Latino/a/x communities. |
| Neighborhood Business Districts Grant | The City of Spokane has committed nearly $2.5 million to this program targeting four specific districts: Garland, Hillyard, North Monroe, and South Perry. Each neighborhood business district has approximately $450,000 available for projects, with activation grants available for businesses and nonprofits within these districts. |
| Lodging Tax Grants | The City of Spokane Valley offers these grants to promote tourism. They're divided into two categories: capital expenditures for tourism-related facilities owned by municipalities (up to $2,554,000) and tourism marketing/operations for events and facilities owned by non-profits or municipalities (up to $339,000). |
| Small Business Innovation Research (SBIR) | Washington State provides funding for innovative technology businesses looking to commercialize their products or services through this program, available to qualifying businesses throughout the state. |
What to Look for in Spokane, Washington Accounting and Bookkeeping Services
When choosing an accountant or bookkeeper for your Spokane small business, you should consider the following factors:
Certifications and State Compliance: Verify the accountant or bookkeeper holds proper credentials, such as CPA licensure in Washington. They should demonstrate thorough knowledge of Washington state tax codes, including the Business & Occupation (B&O) tax that replaces a traditional corporate income tax in the state. A qualified professional will help your business maintain compliance with Spokane-specific regulations.
Industry-Specific Experience: Find professionals who understand Spokane's diverse economic landscape. An accountant familiar with healthcare finances will better serve medical practices, while those with experience supporting construction or forestry businesses will understand the unique cash flow challenges these industries face. Look for professionals who have worked with businesses similar to yours in size and structure.
Understanding of Local Economic Conditions: Select a financial partner who comprehends Spokane's unique business environment. They should recognize how proximity to Fairchild Air Force Base creates opportunities for government contracting, understand seasonal fluctuations affecting local retailers, and keep current on how major employers like Amazon and UPS impact the local economy and workforce.
Knowledge of Regional Tax Incentives: Washington offers specific tax advantages that a knowledgeable Spokane accountant can help you navigate. These include manufacturing machinery exemptions, rural county incentives, and high-tech R&D credits. The right financial professional will identify opportunities like Spokane's Opportunity Zones and help position your business to benefit from local economic development programs.
Talk to a business tax expert today for all your tax needs in Spokane.
Additional Washington Accounting Resources:
A Complete Small Business Tax Guide: Washington State
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.