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Accounting and Bookkeeping Services in Amarillo, Texas
Small business owners in Amarillo trust 1-800Accountant's experienced 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 Amarillo 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 Amarillo 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 Amarillo, 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 Amarillo 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 | None |
| Municipal Tax Rate | 2.00% |
| Combined Sales Tax Rate | 8.25% |
| City-Specific Taxes |
|---|
| Every business in Amarillo must file and pay the Texas Franchise Tax. The rate is 0.375% for wholesalers and retailers and 0.75% for other entities. You owe nothing if your revenue is under $1,230,000 for 2024. The report and payment are due each year by May 15. |
| Licenses and Permits |
|---|
| All businesses operating in Amarillo must obtain a business license from the City of Amarillo, including home-based operations and independent contractors. |
| The City of Amarillo handles all permits and contractor licensing electronically through their Building Safety department using the "My Government" software system. |
| Texas doesn't require a general business license at the state level, but businesses must register with the Texas Secretary of State or county clerk's office to obtain a certificate of formation or assumed name certificate. |
| Specific industries may require additional permits or licenses from the Texas Department of Licensing and Regulation (TDLR), which regulates 39 different industries to promote health and safety. |
| Check the 2024-2025 Texas Business Licenses & Permits Guide for state-level requirements specific to your business activity in Amarillo. |
| Grants and Funding in Amarillo | Grants and Funding Information |
|---|---|
| Business Improvement Grant (BIG Program) | Provides matching grants up to $20,000 (50% of total project costs) for commercial property owners or tenants in designated neighborhood plan areas. Funds can be used for exterior improvements including new paint, landscaping, signage, awnings, lighting, and accessibility upgrades. Applicants must be current on taxes and meet design standards. |
| Amarillo Economic Development Corporation - Small Business Interest Rebate | Assists small businesses with interest rebates for traditional bank loans on real property or equipment purchases. This program helps offset financing costs for small businesses looking to expand or improve their operations in Amarillo. |
| Texas Enterprise Zone Program | Encourages job creation and capital investment in economically distressed areas of Amarillo. Businesses can receive state sales and use tax refunds based on the level of capital investment and jobs created or retained. The Amarillo EDC provides guidance for navigating this state incentive program. |
| Texas Skills Development Fund | Offers grants for customized job training through partnerships with local colleges and technical schools. Amarillo businesses can leverage this program to train or upskill employees, enhancing workforce capabilities while offsetting training costs. |
What to Look for in Amarillo, Texas Accounting and Bookkeeping Services
When choosing an accountant or bookkeeper for your Amarillo small business, you should consider the following factors:
Certifications and State Compliance: Ensure the accountant or bookkeeper has proper credentials, such as CPA certification. They should demonstrate thorough knowledge of Texas tax codes, particularly those affecting Panhandle businesses. Look for professionals who stay current with Texas Comptroller updates and understand the specific reporting requirements for Amarillo businesses.
Experience and Specialization: Find professionals familiar with Amarillo's diverse business landscape. Whether your company operates in agriculture, oil and gas, healthcare, or tourism along Route 66, your financial partner should understand industry-specific regulations and opportunities. An accountant with experience serving businesses similar to yours will provide more valuable insights than one with general knowledge alone.
Understanding of Local Economic Conditions: Choose a financial professional who comprehends Amarillo's unique economic environment. They should recognize how the city's position as a regional hub for the Texas Panhandle affects local businesses. Knowledge of seasonal patterns, local supply chains, and Amarillo's relationship with surrounding rural communities can help develop more accurate financial forecasts and strategies.
Knowledge of State Tax Incentives: Texas offers numerous business-friendly tax structures and incentives, including no state income tax and specific benefits for agricultural operations, energy production, and manufacturing. A skilled Amarillo accountant can help you navigate these advantages, identify relevant property tax abatements, and access local economic development incentives specific to Amarillo and Potter County.
Talk to a business tax expert today for all your tax needs in Amarillo.
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.