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Accounting and Bookkeeping Services in Madison, Wisconsin
Madison business owners trust 1-800Accountant's expert CPAs to manage their bookkeeping and tax preparation, giving them more time to focus on what matters most—growing their companies.
Our Accounting Services for Madison 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 Madison 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 Wisconsin 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 Madison, 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 Wisconsin with our complimentary incorporation services. Simply cover any Madison 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.
| Level | Rate |
|---|---|
| State Tax Rate | 5.0% |
| County Tax Rate | 0.5% |
| Municipal Tax Rate | None |
| Combined Sales Tax Rate | 5.5% |
| City-Specific Taxes |
|---|
| All corporations and pass-through businesses in Wisconsin pay a Business Income/Franchise Tax. Corporations pay 7.9% on net income, and pass-through profits go on owners’ individual returns. Returns and payments to the Wisconsin Department of Revenue are due by April 15. |
| Licenses and Permits |
|---|
| Madison businesses need to be aware of these licensing requirements: • All businesses must obtain a Wisconsin Seller's Permit from the state before applying for city licenses • Street vendors (food carts, merchandise sellers) require specific city permits • Entertainment venues providing amplified or live music need Entertainment Licenses • Most Madison business licenses expire annually on June 30 and must be renewed through the city's online portal |
| Grants and Funding in Madison | Grants and Funding Information |
|---|---|
| Small Business Development Grants | The Wisconsin Economic Development Corporation (WEDC) offers competitive grants ranging from $50,000 to $250,000 designed to support small business development across Wisconsin. These grants help local businesses with development initiatives, technical assistance, and infrastructure improvements. |
| Buy Local, Buy Wisconsin Grants | The Wisconsin Department of Agriculture, Trade and Consumer Protection (DATCP) provides funding of up to $50,000 per project through this program, with $200,000 in total available funding. Applicants must provide matching funds to support projects that strengthen Wisconsin's agricultural economy. |
| Facade Improvement Grants | The City of Madison offers these grants to help businesses improve their storefronts and exterior appearances, enhancing the visual appeal of commercial districts throughout the city. This program is part of Madison's commitment to supporting local business development and neighborhood revitalization. |
| Commercial Ownership Assistance | This program helps Madison businesses acquire commercial property, supporting long-term business stability and community economic development. The initiative is part of broader efforts by the state and city to foster sustainable business growth in local communities. |
What to Look for in Madison, Wisconsin Accounting and Bookkeeping Services
When choosing an accountant or bookkeeper for your Madison small business, you should consider the following factors:
Certifications and State Compliance: Verify that your accountant or bookkeeper holds proper credentials, particularly if they operate as a CPA. They should demonstrate thorough knowledge of Wisconsin's tax regulations, including the state's specific filing requirements and compliance deadlines that differ from federal schedules.
Experience in Growing Industries: Seek professionals with experience serving Madison's thriving sectors like technology, biotechnology, healthcare, and sustainable agriculture. An accountant familiar with the financial challenges and opportunities in these industries can provide more targeted advice for your business growth.
Understanding of Local Economic Dynamics: Choose a professional who understands Madison's unique economic landscape, including the significant influence of the University of Wisconsin-Madison, the seasonal tourism patterns around the lakes, and the city's strong support for local businesses. This local knowledge translates to more relevant financial planning.
Knowledge of Wisconsin Tax Incentives: Wisconsin offers various tax credits and incentives, particularly for research and development, manufacturing, and sustainable practices. A Madison-based accountant should help you navigate these opportunities, including the state's Manufacturing and Agriculture Credit and technology investment incentives that many local startups utilize.
Familiarity with Cross-Border Considerations: For businesses operating in both Madison and nearby Illinois, your accountant should understand multi-state tax implications and how to optimize your financial structure across state lines, particularly for companies serving Chicago-area markets while maintaining Madison headquarters.
Tech-Forward Approach: With Madison's strong technology sector, look for accounting professionals who embrace modern financial technologies and cloud-based solutions. This approach aligns with the city's innovation culture and provides you with more efficient financial management tools.
Talk to a business tax expert today for all your tax needs in Milwaukee.
Additional Wisconsin Accounting Resources:
The Ultimate Wisconsin Small Business Tax Guide
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.