Small Business Accounting in NYC
What We Cover
- Monthly Bookkeeping — Transaction categorization, bank and credit card reconciliation, and clean financial statements delivered on a schedule that actually works for your business.
- Business Tax Preparation — Federal, New York State, and NYC returns for LLCs, S-Corps, C-Corps, and partnerships — including the NYC UBT return (Form NYC-202) for unincorporated businesses.
- Entity Formation & Restructuring — Setting up your LLC, S-Corp election (Form 2553), or C-Corp structure with the right state registrations and operating agreement in place.
- Payroll Setup & Processing — Compliant payroll with proper withholding for federal and NYC taxes, plus quarterly payroll tax filings (Forms 941 and NYS-45).
- Sales Tax Compliance — Registration, collection tracking, and quarterly or annual sales tax filings for businesses selling taxable goods or services in New York.
Accounting in New York City Is Different
NYC is one of the few cities in the country that levies its own business income taxes on top of the state layer. If you operate an unincorporated business — a sole proprietorship, LLC, or partnership — you owe the Unincorporated Business Tax on net income above $95,000. It’s a 4% tax that many business owners don’t know about until they get a notice.
There’s also the commercial rent tax for businesses leasing space south of 96th Street in Manhattan, and a tangle of rules around nexus and sales tax that trip up e-commerce sellers operating from a New York address. Getting the bookkeeping right from day one saves hours of cleanup later and keeps penalty exposure low.
We work with restaurants, retail shops, professional services firms, tech startups, and creative studios across the five boroughs. The common thread is that they all need someone who understands the NYC-specific layers, not just the federal return.