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Accounting and Bookkeeping Services in Paterson, New Jersey
Paterson business owners trust 1-800Accountant's expert CPAs to handle their bookkeeping and tax needs, saving valuable time while maximizing deductions and maintaining compliance year-round.
Our Accounting Services for Paterson 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 Paterson 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 New Jersey 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 Paterson, 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 New Jersey with our complimentary incorporation services. Simply cover any Paterson 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 | 6.63% |
| County Tax Rate | None |
| Municipal Tax Rate | None |
| Combined Sales Tax Rate | 6.63% |
| City-Specific Taxes |
|---|
| Businesses that own or lease commercial real estate in Paterson must pay municipal property taxes assessed by the Tax Assessor’s Office at a rate of $10.372 per $100 of assessed value (10.372%) for 2023. Payments are due each quarter on February 1, May 1, August 1, and November 1. |
| Licenses and Permits |
|---|
| All Paterson businesses must obtain a Business License from the city's Division of Revenue, which requires annual renewal. |
| Before opening, businesses need a Zoning Permit from the City Planning Division to ensure your location is approved for your intended use. |
| Construction or renovation projects require a Building Permit from the Paterson Building Department. |
| Food-related businesses must secure a Health Department Permit to certify compliance with local health regulations. |
| New Jersey also requires state-level professional licenses for many occupations and a State Business Registration Certificate. |
| Grants and Funding in Paterson | Grants and Funding Information |
|---|---|
| City of Paterson Business Grants | Program offers funding opportunities for both for-profit and not-for-profit businesses, as well as sole proprietors in Paterson. These grants can support business expansion, capital improvements, and specific projects aligned with city priorities. |
| Small Business Improvement Grant | From the New Jersey Economic Development Authority provides reimbursement for costs associated with building improvements or investments in new furniture, fixtures, and equipment. This program aims to support small business owners statewide, including those in Paterson. |
| NJ Business Action Center Grants | Periodically posts various grant opportunities for businesses throughout New Jersey. Business owners should monitor this portal regularly for current application windows and new funding opportunities. |
| Paterson Division of Economic Development | Provides additional resources and potential funding opportunities for local businesses looking to establish or expand in the city. |
What to Look for in Paterson, New Jersey Accounting and Bookkeeping Services
When choosing an accountant or bookkeeper for your Paterson small business, you should consider the following factors:
Certifications and State Compliance: Seek professionals with proper credentials like CPAs who understand New Jersey's tax regulations. Paterson businesses face specific municipal requirements alongside state obligations, so your financial professional should navigate both effectively to prevent costly compliance issues.
Experience with Local Industries: Find accountants familiar with Paterson's industrial heritage and evolving business landscape. Whether you operate in manufacturing, retail, or emerging creative sectors, a financial partner with relevant industry experience will better understand your specific accounting challenges and opportunities.
Understanding of Urban Economic Dynamics: Partner with professionals who comprehend Paterson's unique economic environment. The city's position within the New York metropolitan area creates distinct tax implications and business opportunities. A knowledgeable accountant will help you leverage local economic development initiatives while managing the financial complexities of operating in this historic industrial center.
Knowledge of New Jersey Tax Incentives: New Jersey offers various tax programs that benefit businesses, including the Urban Enterprise Zone Program which can provide significant sales tax advantages in Paterson. A skilled accountant can identify which incentives apply to your business and help you qualify for programs that reduce your tax burden while supporting growth in this revitalizing city.
Talk to a business tax expert today for all your tax needs in Paterson.
Additional New Jersey Accounting Resources:
New Jersey Small Business Tax Guide: Stay Compliant and Informed
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.