_Teal.svg){kind=icon}
Accounting and Bookkeeping Services in Waco, Texas
Small business owners in Waco trust 1-800Accountant's expert CPAs to handle their bookkeeping and tax needs, giving them more time to focus on what matters most—growing their business.
Our Accounting Services for Waco 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 Waco 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 Texas 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 Waco, 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 Texas with our complimentary incorporation services. Simply cover any Waco 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 | 6.25% |
| County Tax Rate | 0.50% |
| Municipal Tax Rate | 1.50% |
| Combined Sales Tax Rate | 8.25% |
| City-Specific Taxes |
|---|
| Every commercial property in Waco has a Maintenance and Operations property tax at 0.70% of its assessed value, due annually by January 31st. |
| Licenses and Permits |
|---|
Waco businesses should be aware of these important permits and licenses: Door-to-door sales require a Solicitation Permit with a $25 fee. Solicitors must display a city-issued badge and can only operate from shortly after sunrise until shortly before sunset. Small businesses operating outdoor sales need either Private Open Air Vending Licenses (for commercially zoned private property) or Public Open Air Vending Licenses (for public property). |
| While Texas doesn't require a general business license at the state level, all Waco businesses must register with the Texas Secretary of State or county clerk's office. |
| Permit applications can be submitted online, while license applications must be emailed to planning@wacotx.gov or delivered in person to the Planning Department. |
| Grants and Funding in Waco | Grants and Funding Information |
|---|---|
| City of Waco Business Grants | The City of Waco offers grants to eligible properties based on increased taxable value due to significant capital improvements. These grants are designed to support business development and capital investment within the city limits. |
| Waco-McLennan County Economic Development Corporation Incentives | WMCEDC provides grants for qualified capital investment that creates new full-time jobs with specified wages and health benefits for local residents. This partnership between the City of Waco and McLennan County aims to stimulate economic growth through direct financial assistance. |
| Greater Waco Chamber Economic Development Support | The Greater Waco Chamber offers a cash grant program specifically designed for new job creation, capital investment, support for existing industry expansion, and new business attraction. The Chamber works directly with businesses to navigate the application process and secure funding. |
| Chapter 380/381 Local Government Incentives | Under Texas Local Government Code, Waco and McLennan County can provide various financial incentives including loans, grants, utility subsidies, tax abatements, and sales tax refunds to qualifying businesses that contribute to local economic development. |
What to Look for in Waco, Texas Accounting and Bookkeeping Services
When choosing an accountant or bookkeeper for your Waco small business, you should consider the following factors:
Certifications and Texas Tax Expertise: Select professionals with proper credentials like CPA or EA designation, who demonstrate thorough knowledge of Texas's franchise tax system and no state income tax structure. Your accountant should understand how Waco businesses navigate both state and local tax requirements, especially as they relate to the city's business-friendly policies.
Industry-Specific Experience: Find an accounting professional familiar with Waco's growing sectors like technology, advanced manufacturing, and aerospace. A bookkeeper who has worked with similar businesses in the area will better understand the financial challenges and opportunities specific to your industry. For example, accountants experienced with manufacturing clients will understand the complex inventory valuation and cost accounting needs of businesses like VanTran Transformers or other local manufacturers.
Knowledge of Local Economic Development Programs: Work with professionals who understand Waco's business incentive programs and economic development initiatives. The city's growth strategies, including the tech-focused downtown development supported by federal grants and local tech ecosystem expansion, create unique financial opportunities. A savvy accountant can help you access tax benefits tied to job creation or capital investments in Waco's developing areas.
Connection to Local Business Networks: Choose accounting services with strong ties to Waco's business community, including relationships with the Chamber of Commerce and Baylor University's business programs. Local accountants plugged into these networks can provide valuable introductions and insights about regional business trends that affect your financial planning. This community knowledge becomes particularly valuable as Waco continues its transformation into a more diverse economic hub that blends traditional industries with emerging tech opportunities.
Talk to a business tax expert today for all your tax needs in Waco.
Additional Texas Accounting Resources:
Navigating Small Business Taxes in Texas
How to Start a Business in Texas: 10 Steps
How to Set Up an S Corp in Texas
*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.