Search “tax accountant near me” and plenty of names come back. The useful ones can map every tax a Tennessee business owes and plan around them before the year closes. That second part matters, because Tennessee has no personal income tax, and owners often assume the business owes very little. Then the franchise tax notice shows up. Next: the business tax. Also: a sales tax question nobody raised at formation. The Bookkeeping Company prepares federal and Tennessee business returns remotely, working from the same reconciled books it keeps all year. Not a CPA firm. Instead, an IRS PTIN holder, AIPB-accredited bookkeeper, and QuickBooks Elite ProAdvisor.
By Maya Primachenko, IRS PTIN Holder & Founder · Last updated October 2026
Tax Accountant Near Me: Which Taxes Does a Tennessee Business Owe?
Most Tennessee businesses owe more than one tax, and each tax has its own base. Here, then, is the map:
- Federal income tax — the entity return plus the owner’s personal return; entity type decides which forms apply
- Franchise tax — 25% of net worth, with a $100 minimum; net worth alone drives it since the property measure ended for tax years ending on or after January 1, 2024
- Excise tax — 5% of net earnings, after a $50,000 standard deduction for tax years ending on or after December 31, 2024
- Business tax — a gross receipts tax that businesses owe even in a loss year; filing starts at $100,000 in receipts per county or city
- Sales and use tax — 7% state rate plus local rates, filed through TNTAP
- Payroll taxes — federal withholding, FICA, and FUTA, plus Tennessee unemployment insurance; no state wage withholding
Six taxes. Three agencies. One owner trying to keep track — and each one requires a separate filing.
Since all Tennessee filings run through TNTAP, the state’s online portal. (Tennessee Taxpayer Access Point — TNTAP) The Department of Revenue also explains the franchise and excise rules on its own page. (Tennessee Department of Revenue — Franchise and Excise Tax)
Franchise and Excise Tax: What Changed Under the Works Tax Act
Although franchise and excise tax catches most Tennessee owners off guard, the rules just changed. Four changes matter:
- Franchise on net worth only — the property measure ended for tax years ending on or after January 1, 2024
- $50,000 excise deduction — a standard deduction against net earnings, starting with tax years ending on or after December 31, 2024
- Single sales factor — apportionment finished its phase-in for tax years ending on or after December 31, 2025, which changes the math for businesses selling into other states
- Business tax threshold — filing now starts at $100,000 per jurisdiction, up from $10,000
In fact, every one of those leans on the books. Net income goes to the excise return. Also, net worth goes to the franchise return. Receipts by jurisdiction also go to the business tax. Tennessee also conforms to federal bonus depreciation for assets bought on or after January 1, 2023 — which means equipment purchases are worth discussing before any check clears.
Tax Planning Timing: Why Earlier Beats April
Filing reports what already happened. When planning starts before year end, it changes what happens next. By March, most of the useful moves have expired.
The Planning Calendar
- Early in the year — confirm the entity type fits the income, and set estimated payments from real numbers instead of last year’s return
- Mid-year — project full-year income; if an S-corp, review owner pay; check whether any jurisdiction is nearing the $100,000 business tax threshold
- October through December — time equipment purchases; review retirement plan contributions; confirm 1099 vendor details
- January — final federal estimate due January 15; W-2s and 1099-NECs out by the 31st
It is October now. This is also the last comfortable month for moves that must happen before December 31. (IRS — Estimated Taxes)
What a Tax Preparer Needs From Your Bookkeeper
When the handoff between bookkeeper and preparer runs cleanly, the return moves faster. A clean one includes:
- Books closed and reconciled through December 31, with a trial balance
- Year-end adjusting entries, including depreciation
- Net income by period for excise tax, and net worth for franchise tax
- Gross receipts by county or city for the business tax
- Sales tax collected versus remitted, tied out by period
- Payroll reports reconciled to the books and to the quarterly filings
- 1099 totals by vendor, with W-9s on file
- A fixed asset roll-forward
When one firm keeps the books and prepares the return, that handoff stops being a handoff. See how The Bookkeeping Company’s bookkeeping service feeds its tax preparation service.
Does a Single-Member LLC in Tennessee Need a Tax Accountant?
On the state side, almost always. Federally, a single-member LLC without corporate treatment goes on Schedule C — no separate entity return required. Tennessee is different. LLCs doing business in the state register for franchise and excise tax — the franchise tax carries a $100 minimum even in a quiet year. In addition, business tax applies once receipts hit $100,000 in a city or county. Sales tax: if selling taxable goods. Although narrow exemptions exist, classification still matters.
The real question is rarely “can I file this myself?” It is “do I know which accounts I need?”
What Does a Tax Accountant Cost in Tennessee?
Per SCORE (2025) and National Society of Accountants (2025):
- CPA firm hourly rates: $150 to $400 an hour, depending on firm and engagement
- Schedule C with Form 1040: about $482 or more
- S-corp Form 1120-S: $903 or more, plus the owner’s personal return
- Partnership Form 1065: $873 or more, plus partner returns
- Tennessee Franchise and Excise return: an added fee, usually bundled with the federal return
- Tax planning sessions: $100 to $300 an hour for standalone advisory sessions, or included in a monthly retainer
To get started: one free consultation, one quote covering every filing.
Tax Accountant Near Me: Tennessee Statewide, Fully Remote
Nashville, Memphis, Knoxville, Chattanooga, and every town between — The Bookkeeping Company serves Tennessee businesses statewide. All remote, through an encrypted portal. New clients year-round, not just in filing season. When audits or formal IRS representation are needed, those go to CPA or Enrolled Agent partners. Reach us at 360-524-9889.
Frequently Asked Questions About Finding a Tax Accountant Near Me in Tennessee
Which taxes does a Tennessee business actually owe?
Federal income tax, and federal payroll tax plus Tennessee UI if there are employees. LLCs, corporations, and partnerships also carry franchise tax (0.25% of net worth, $100 minimum) and excise tax (6.5% of net earnings). $100,000 or more in receipts in a city or county triggers the business tax. Sellers of taxable goods owe sales tax. No state wage withholding in Tennessee.
What does business tax preparation cost?
Schedule C: $482 or more. S-corp Form 1120-S: $903 or more. Partnership Form 1065: $873 or more. National Society of Accountants (2025). The Tennessee Franchise and Excise return also adds a fee, usually bundled with the federal. CPA firm rates: $150 to $400 an hour (SCORE, 2025).
When should tax planning start rather than just filing?
Before the year ends, ideally by the third quarter. Filing reports what happened. Planning, however, changes what happens. Owner pay, equipment timing, retirement contributions, estimated payments — all easier to adjust in October than in March.
What does a tax preparer need from your bookkeeper?
Books closed and reconciled through year end, trial balance attached. Adjusting entries including depreciation. Net income and net worth figures. Gross receipts broken out by county or city. Sales tax tie-out. Payroll reports reconciled to the books. 1099 totals with W-9s on file. Fixed asset roll-forward.
Does a single-member LLC in Tennessee need one?
For the state side, yes. Federal reporting stays simple, but Tennessee requires LLCs doing business there to register for franchise and excise tax, including the $100 minimum franchise tax. Business tax and sales tax may apply too. The right accounts depend on the activity — that’s what the preparer identifies.
Is The Bookkeeping Company a CPA firm?
No. Maya Primachenko: IRS PTIN holder, AIPB-accredited, QuickBooks Elite Certified ProAdvisor. Returns prepared; routine IRS and state correspondence handled. When audits, appeals, or reviewed and audited statements are needed, the firm refers clients to CPA or Enrolled Agent partners.
Do Tennessee businesses have to make estimated tax payments?
Federal due dates: April 15, June 15, September 15, and January 15 — owners without enough withholding. Tennessee franchise and excise: once expected liability hits $5,000, quarterly estimates are due (Form FAE172). Smaller amounts, however, settle with the annual return.
Can you handle prior-year or late Tennessee returns?
Yes. When returns are late, prior-year federal and Tennessee franchise and excise returns get filed. Missing returns also replace agency estimates with real numbers and stop further penalty growth. How long it takes depends on the number of years and the condition of the records.
About The Bookkeeping Company
The Bookkeeping Company: Tax Strategies & Planning
18523 NE 65th St
Vancouver, WA 98682
Phone: 360-524-9889
Email: thebookkeepingcomp@gmail.com
Service Area: Serving Tennessee businesses statewide — Nashville, Memphis, Knoxville, Chattanooga, and all Tennessee communities. All work delivered remotely. Free initial consultations for all new clients.