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Accounting and Bookkeeping Services in Winston-Salem, North Carolina
Winston-Salem small business owners trust 1-800Accountant for comprehensive bookkeeping and tax services that save time, reduce costs, and provide the financial clarity needed to grow confidently.
Our Accounting Services for Winston-Salem 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 Winston-Salem 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 North Carolina 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 Winston-Salem, 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 North Carolina with our complimentary incorporation services. Simply cover any Winston-Salem 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 | 4.75% |
| County Tax Rate | 2.25% |
| Municipal Tax Rate | None |
| Combined Sales Tax Rate | 7.00% |
| City-Specific Taxes |
|---|
| North Carolina has a corporate income tax rate of 2.5% that corporations doing business in Winston-Salem must pay. |
| Licenses and Permits |
|---|
| The following businesses require city-specific licensing in Winston-Salem: door-to-door solicitors, fortune tellers, pawnbrokers, tattoo artists. |
| Businesses using a trade name must register an Assumed Business Name (DBA) with the Forsyth County Register of Deeds. |
| Food service and personal care businesses need permits from the Forsyth County Environmental Health Division. |
| Businesses with 3 or more employees must comply with North Carolina's workers' compensation requirements. |
| Grants and Funding in Winston-Salem | Grants and Funding Information |
|---|---|
| Minority Business Enterprise (MBE) Grant Program | Designed to assist minority-owned businesses in Winston-Salem and Forsyth County. Grants support special projects, general operating expenses including salary, rent, working capital, and capital expenditures. Historically open to Black and Latinx-owned small businesses. |
| Small Business Plan Competition | Open to for-profit micro-businesses (5 employees or fewer) located in the Neighborhood Revitalization Strategy Area. Winners receive $5,000 grants for startup costs, potential $5,000 matching micro-loans, and access to apply for further city small business loans. |
| City of Winston-Salem Funding Opportunities | The city issues annual Requests for Proposals for Community Agency Funds, including state-supported grants. Major sources include Community Development Block Grant (CDBG), HOME Investment Partnership, and other programs targeting low-income individuals and business objectives that promote local economic development. |
| The Winston-Salem Foundation Small Grants | Offers small grants during two annual cycles: Spring (February–March) and Fall (September–October). While not operated by the city, the foundation is a trusted local partner for small business funding. |
What to Look for in Winston-Salem, North Carolina Accounting and Bookkeeping Services
When choosing an accountant or bookkeeper for your Winston-Salem small business, you should consider the following factors:
Certifications and State Compliance: Verify that your financial professional holds appropriate credentials such as CPA certification and maintains good standing with the North Carolina State Board of Certified Public Accountant Examiners. They should demonstrate thorough knowledge of North Carolina's tax regulations, including the state's corporate income tax rate of 2.5% and specific filing requirements for Winston-Salem businesses.
Industry Specialization: Seek professionals with experience serving Winston-Salem's growing sectors. A financial advisor familiar with the Innovation Quarter's biotech startups, advanced manufacturing operations like Tex-Tech Industries, or the expanding cybersecurity field will offer more valuable insights than a generalist. Their specialized knowledge becomes particularly valuable during tax season and strategic planning.
Understanding of Local Economic Development: Partner with someone who comprehends Winston-Salem's economic landscape, including the rapid expansion of industrial and retail real estate. A knowledgeable accountant can help position your business to benefit from the city's projected $11 billion in development investment and connect you with local resources like the minority-owned business grant programs.
Knowledge of Regional Tax Incentives: Winston-Salem and North Carolina offer various business incentives that a skilled accountant can help you navigate. These include the Job Development Investment Grant (JDIG), building reuse grants that support the city's downtown revitalization efforts, and specific incentives for companies contributing to the Innovation Quarter's research and technology ecosystem.
Talk to a business tax expert today for all your tax needs in Winston-Salem.
Additional North Carolina Accounting Resources:
North Carolina Small Business Tax Guide: Complete Overview
Virtual Bookkeeping: How To Find the Best Online Bookkeeper
10 Common Small Business Tax Questions Owners Are Asking
*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.