_Teal.svg){kind=icon}
Accounting and Bookkeeping Services in Santa Monica, California
1-800Accountant, America's leading virtual accounting firm, offers expert tax and bookkeeping services tailored for Santa Monica's small businesses, helping you navigate California regulations and maximize your financial potential.
Santa Monica Small Businesses Accounting Services
Business Tax Preparation: Navigate Santa Monica's unique business landscape with confidence. Our CPAs average 17 years of experience in local industries, helping you comply with regulations while identifying substantial tax savings. We stay current on California's ever-changing tax laws to ensure your business benefits from every available deduction.
Bookkeeping: Build a solid financial foundation for your Santa Monica business with precise, timely bookkeeping. Our services save you time and provide crucial insights for data-driven decisions. We deliver clear, easy-to-understand reports that empower you to interpret your financial data effectively, enabling your accountant to develop accurate financial models tailored to Santa Monica's business environment.
Tax Advisory: Get year-round guidance from a dedicated small business tax advisor familiar with Santa Monica's local economy. Our affordable tax advisory service helps you plan strategically, minimizing your California tax liability while ensuring compliance. We keep you informed about tax implications for decisions like expanding your beachfront restaurant or investing in new equipment for your tech startup.
Payroll: Simplify your payroll process and free up time to focus on growing your Santa Monica business. Our comprehensive payroll services handle everything from employee payments to tax submissions for the city of Santa Monica and the state of California. We ensure accuracy and compliance with local labor laws, giving you peace of mind and more time to enjoy the Santa Monica pier.
Business Formation: Establish your business in California with our incorporation services. We manage the paperwork while you cover the necessary Santa Monica and state fees. This sets you up to hire employees, open a business bank account, and enjoy the benefits of an optimized business structure. We'll help you navigate California's specific requirements and choose the best entity type for your Santa Monica-based business, whether you're opening a boutique on Third Street Promenade or launching a startup in Silicon Beach.
Filing your business taxes online with 1-800Accountant is quick and easy:
- Provide required personal and business information.
- Review and select your online business tax preparation service and complete your purchase.
- Log in to your 1-800Accountant Portal and upload documents critical to preparing and filing your taxes.
Level | Rate |
|---|---|
State Tax Rate | 6.00% |
County Tax Rate | 0.25% |
Municipal Tax Rate | 1.00% |
Los Angeles Co Local Tax SL | 1.00% |
Los Angeles Co District Tax SP | 2.00% |
Combined Sales Tax Rate | 10.25% |
City-Specific Taxes |
|---|
| Santa Monica has a Business License Tax that all businesses must obtain to legally operate. The tax rates vary based on the business classification and are generally assessed on gross receipts. For instance, businesses in Group I (such as manufacturers and retailers) pay $1.25 per $1,000 in gross receipts, while those in Group IV (professions) are charged $5.00 per $1,000, with a minimum tax of $75 for gross receipts up to $60,000. Small businesses with worldwide gross receipts under $40,000 per year are exempt from the tax but must still maintain a valid license. The deadline for obtaining or renewing this license is typically July 1st or August 31st. |
Licenses and Permits |
|---|
| All businesses operating within Santa Monica city limits, including home-based and online businesses, must obtain a city-specific license to legally conduct business. |
Each branch establishment or separate place of business in Santa Monica requires its own city-specific license. Businesses with different types of activities need separate licenses for each activity. |
Before applying for a business license, it's important to check zoning and land use requirements with the City Planning Division to ensure compliance with local regulations. |
Grants and Funding in Santa Monica | Grants and Funding Information |
|---|---|
| Commercial Façade Improvement (CFI) Matching Grant Program | This program provides up to $10,000 in matching grants for small businesses located on Pico Boulevard in Santa Monica. It supports storefront improvements—including signage, lighting, ADA entryways, and security enhancements—and prioritizes minority-owned, women-owned, and LGBTQ+-owned businesses. |
| Community Access & Participation (CAP) Grant Program | This program offers grants ranging from $3,000 to $6,000 to nonprofit arts and culture organizations based in Santa Monica, with a grant period spanning from January 1 to June 30, 2025. |
| SBA Disaster Loans | These loans assist businesses affected by wildfires, with a designated Business Recovery Center in Santa Monica set to open on January 15, 2025 to help eligible businesses recover from disaster impacts. |
What to Look for in Santa Monica, California Accounting and Bookkeeping Services
When choosing an accountant or bookkeeper for your Santa Monica small business, consider these key factors:
Certifications and State Compliance: Work with an accountant who holds proper credentials such as a CPA and stays current with California tax rules. A skilled professional understands the details of local regulations and can address financial matters unique to Santa Monica's thriving tech, biotech, and tourism sectors.
Experience and Specialization: Choose an accountant with hands-on experience in sectors like technology, healthcare, and hospitality. Having backed local startups or creative firms, they can handle the specific financial challenges that businesses in Santa Monica encounter, from managing cash flow fluctuations to planning for sector-specific growth.
Understanding of Local Economic Conditions: Santa Monica is known for its dynamic mix of industries ranging from digital media at Silicon Beach to innovation in clean energy and retail growth from local initiatives. An accountant familiar with these economic drivers can provide guidance that matches the city’s unique market conditions, making financial planning more effective.
Knowledge of State Tax Incentives: California offers tax credits and incentives that favor sustainable business practices and innovation. A local expert can help you navigate these incentives, pointing out opportunities that suit enterprises in technology, creative industries, and other key areas driving Santa Monica’s local economy.
Talk to a business tax expert today for all your tax needs in Santa Monica.
Additional California Accounting Resources:
California Business Tax Guide for Small Businesses
How to Start an S- Corporation in California
A Beginner’s Guide To California Payroll Taxes
*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.