Local Accounting Services in Philadelphia, Pennsylvania
Get accounting, bookkeeping, and tax advisory services for your Philadelphia, PA business from America's leading virtual accounting service.
Local Tax Expertise
Ongoing Bookkeeping
Payroll Support
Year-Round Advisory
Local Tax Expertise
Ongoing Bookkeeping
Year-Round Advisory
Payroll Support
| Level | Rate |
|---|---|
| State Tax Rate | 6% |
| County Tax Rate | 2% |
| Municipal Tax Rate | None |
| Combined Sales Tax Rate | 8% |
| City-Specific Taxes |
|---|
| Philadelphia businesses must pay a business income and receipts tax annually. |
| Philadelphia has a school income tax on interest and dividends. |
| Philadelphia has a 3.27% tax on transferring and selling property in Philadelphia. |
| Licenses and Permits |
|---|
| Philadelphia businesses that want to have a dumpster on private or public property must file for a license. |
| Grants and Funding in Philadelphia | Grants and Funding Information |
|---|---|
| The Boost Your Business program | The Boost Your Business program awards 20 businesses with an annual revenue exceeding $350,000 the chance to win a $50,000 forgivable loan. |
| The Business Security Camera Program | The Business Security Camera Program offers businesses citywide funding for up to 75% of the costs of security cameras, up to $3,000 for a single commercial property. Businesses located in the Targeted Commercial Corridor can receive up to 100% of the total eligible costs. |
| The Storefront Improvement Program | The Storefront Improvement Program allows businesses to reimburse up to 50% of the cost of eligible improvements to a maximum of $10,000 for a single commercial property, or up to $15,000 for a multiple-address or corner business property. |
| The Fair Chance Hiring Initiative | The Fair Chance Hiring Initiative offers businesses incentives such as wage reimbursement and employee retention grants for businesses that hire employees returning from incarceration. |
What to Look for in Philadelphia, Pennsylvania Accounting and Bookkeeping Services
Business Tax Preparation: Ensure your business remains tax compliant in the City of Brotherly Love by entrusting your tax preparation to our seasoned CPAs. With an average of 17 years' experience under their belts, our experts intimately understand the intricacies of Philadelphia's tax landscape. Let them leverage their industry-specific knowledge to maximize your deductions and keep thousands in your pocket each year.
Bookkeeping: Accurate bookkeeping is the bedrock of sound financial management. Our meticulous Philadelphia bookkeepers will maintain impeccable records tailored to your business, enabling data-driven decision-making. Robust cash flow projections, insightful reporting, and a firm grasp of your fiscal health will empower you to steer your enterprise towards continued growth and profitability in Pennsylvania's largest city.
Tax Advisory: The tax implications for Philadelphia businesses extend far beyond the April filing deadline. Our tax advisory service provides year-round guidance from a dedicated CPA to strategically minimize your tax burden while ensuring full compliance with state and local regulations. With our affordable advisory support, you'll make tax-efficient choices that preserve your hard-earned profits.
Payroll: Entrust your payroll to our capable hands and reclaim the hours you currently spend on this time-consuming task. We'll handle all calculations, tax remittances, and filings specific to Philadelphia, allowing you to focus your energy on driving your core operations forward without the distraction of payroll particulars.
Business Formation:Launch your entrepreneurial journey on firm legal footing with our complimentary incorporation services for Philadelphia businesses. Simply cover the city's fees, and we'll take care of the rest – establishing your official business structure, enabling you to hire employees, open a business bank account, and position yourself for maximum tax efficiency in Pennsylvania.
When choosing an accountant or bookkeeper for your Pennsylvania small business, you should consider the following factors:
Certifications and State Compliance: Ensure the accountant or bookkeeper has the right title and certifications, such as working as a CPA. They should also be fluent in Pennsylvania's specific tax regulations and compliance requirements.
Experience and Specialization: Search for professionals with experience in your specific industry. Specialized knowledge is crucial for managing industry-specific financial matters and for strategic long-term planning.
Understanding of Local Economic Conditions: Opt for a professional who understands the local economic environment in Pennsylvania. This includes familiarity with the state's prominent industries, such as healthcare, education, and financial services, as this knowledge can impact financial decision-making and tax planning.
Knowledge of State Tax Incentives: Pennsylvania offers business-friendly tax incentives, including credits for job creation, capital investment, and specific industry advantages. A knowledgeable financial professional can help navigate these incentives and make recommendations to minimize your tax burden.