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Accounting and Bookkeeping Services in Hawaii
1-800Accountant, America’s leading virtual accounting firm for small businesses, manages all of your bookkeeping and accounting tasks with comprehensive end-to-end services designed to support and enhance your small business in Hawaii.
Our Accounting Services for Hawaii Small Businesses
Business Tax Preparation: Get your taxes expertly prepared and filed by a CPA experienced in your industry so you always feel secure about your business tax situation. Our CPAs, with more than 17 years of experience on average, can save your business thousands annually when you entrust the complexities of Hawaii tax preparation to them!
Bookkeeping: Strengthen your financial foundation and manage cash flow with meticulous, error-free bookkeeping done for you. This detailed approach saves time and provides critical data-driven business insights. It offers the best tools for interpreting data with easy-to-understand reporting, enabling your accountant to develop essential financial models.
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 CPA. Strategic planning helps minimize your business tax liability in Hawaii throughout the year while ensuring compliance.
Payroll: Save numerous hours each pay period with our comprehensive payroll service handled for you, with regular tax submissions to the state of Hawaii, ensuring accuracy and allowing you to focus on other vital areas of your business.
Business Formation: Experience the benefits of officially establishing your business in Hawaii with our complimentary incorporation service. You only cover the state fees, and we manage the rest. This puts you on a path to hire employees, open a business bank account, and enjoy an optimized business tax structure and maximum tax savings.
Hawaii Corporate Tax Rates and Brackets
| Corporate Tax Rate | Corporate Tax Bracket |
|---|---|
| 4.40% | $0 |
| 5.40% | $25,000 |
| 6.40% | $100,000 |
When Do You Have to File Business Tax Returns in Hawaii?
| Partnerships Due Date - Annual Returns | C-Corp Tax Due Date - Annual Returns | S-Corp Tax Due Date - Annual Returns |
|---|---|---|
| The 20th day of the fourth month following the close of the fiscal year. | The 20th day of the fourth month following the close of the fiscal year. | The 20th day of the fourth month following the close of the fiscal year. |
LLC Renewal Dates and Fees in Hawaii
| How Often Do You Have to Renew Your LLC? | LLC Formation Filing Fee | LLC Yearly/Biennial Filing Fee |
|---|---|---|
| Annually | $50 | $15 |
Single Filers - Hawaii Tax Rates and Brackets
| Single Filer Rates | Single Filer Brackets |
|---|---|
| 1.40% | $0 |
| 3.20% | $2,400 |
| 5.50% | $4,800 |
| 6.40% | $9,600 |
| 6.80% | $14,400 |
| 7.20% | $19,200 |
| 7.60% | $24,000 |
| 7.90% | $36,000 |
| 8.25% | $48,000 |
| 9.00% | $150,000 |
| 10.00% | $175,000 |
| 11.00% | $200,000 |
Single Filers - Hawaii Exemptions and Deductions
| Standard Deduction (Single) | Personal Exemption (Single) |
|---|---|
| $2,200 | $1,144 |
Married Filing Jointly - Hawaii Tax Rates and Brackets
| Married Filing Jointly Rates | Married Filing Jointly Brackets |
|---|---|
| 1.40% | $0 |
| 3.20% | $4,800 |
| 5.50% | $9,600 |
| 6.40% | $19,200 |
| 6.80% | $28,800 |
| 7.20% | $38,400 |
| 7.60% | $48,000 |
| 7.90% | $72,000 |
| 8.25% | $96,000 |
| 9.00% | $300,000 |
| 10.00% | $350,000 |
| 11.00% | $400,000 |
Married Filing Jointly - Hawaii Exemptions and Deductions
| Standard Deduction (Couple) | Personal Exemption (Couple) |
|---|---|
| $4,400 | $2,288 |
What to Look for in Hawaii Accounting and Bookkeeping Services
When selecting an accountant or bookkeeper for your Hawaii small business, you should consider these factors:
Expertise in Hawaii's Unique Tax Structure: Look for a professional knowledgeable about Hawaii’s general excise tax (GET), transient accommodations tax (TAT), and other local taxes, as they differ significantly from taxes in other states.
Experience with Tourism-Related Businesses: Given the significance of the tourism industry in Hawaii, consider an accountant who specializes in hospitality and related sectors, understanding the seasonal fluctuations and specific financial challenges of these businesses.
Knowledge of Local and Federal Incentives: Choose a financial professional familiar with tax incentives and grants available both locally in Hawaii and from federal sources, particularly those that support sustainable business practices and renewable energy, which are prevalent in the state.
Understanding of Import and Export Regulations: If your business imports or exports goods, it's crucial to have an accountant adept at handling the complexities of trade regulations and international commerce, which is especially important in an island economy.
Capabilities in Handling Remote Business Operations: Ensure your accountant or bookkeeper can manage the challenges of operating in a remote location, including the logistics of communication and the management of digital records, essential for businesses spread across the Hawaiian islands.
Serving Small Businesses Throughout the Entire State of Hawaii
- Honolulu
- Maui
- Pearl City
- Oahu
- Kailua Kona
- Hawi
- Lanai
- Keaau
“I’ve been fortunate to have great accountants who care, get back to me very timely, and believe they do a great job getting the most money back they are able to.”
Sal
Actual customer testimonial. Photo is illustrative only.
Additional Hawaii Accounting Resources:
Virtual Bookkeeping: How To Find the Best Online Bookkeeper
CPA vs. Tax Preparer: Which Is Best for Your Business?
10 Common Small Business Tax Questions Owners Are Asking
Talk to a business tax expert today for all your tax needs in Hawaii.
*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.