What it is. A CPA-led accounting service for New York City owners: monthly financials you can act on, entity and city tax planning, the S and PTET elections handled, and a person to call before decisions.
Who it is for. New York City businesses past the startup stage that need more than clean books: a profit number they understand, a city tax bill managed before year-end, and a CPA to call before decisions, not after.
Why local knowledge. New York City has taxes the rest of the country does not: the Unincorporated Business Tax, an entity-level tax on S corporations, and the NYC pass-through entity tax. They change the entity math, and a national accountant misses them.
A small business accountant does what a bookkeeper does not: interpret the numbers, plan the tax before the year closes, and advise the decisions that turn on the financials. Corviniti provides that to New York City owners, led by a CPA with Big Four experience, at a flat monthly price. The books are the input; the output is a profit number you understand, a tax bill managed across the year, and a straight answer when a decision needs one.
In New York City the planning is worth more than it is almost anywhere else, because the city taxes stack on top of the state and federal layers. A profitable sole proprietor or partnership faces the 4 percent Unincorporated Business Tax; an S corporation does not escape city tax the way it escapes some federal tax, because New York City taxes the company itself at 8.85 percent; and the New York City pass-through entity tax can convert some of that into a federal deduction. Getting the entity and the elections right is the work, and it happens during the year, not at the filing table.
Corviniti keeps books, plans tax, and files returns for New York City businesses under one roof, so the same team that knows your numbers is the one advising on them. What the service covers is below.
This page sits under Corviniti Accounting in New York City, our New York headquarters. That page covers the full New York City and New York State picture, and links to the rest of our local coverage.
Who does what
Bookkeeper, accountant, CFO: who does what
Three roles, three jobs. The bookkeeper records, the accountant interprets and plans, the CFO looks forward. This page is the accountant tier.
The three roles compared. Illustrative.
City business taxes
The New York City taxes on a small business
New York City taxes businesses on top of the state, and the city taxes drive the entity decision more than owners expect. The ones that matter, on one page.
The New York City business taxes. Current NYC law; illustrative, not tax advice.
Entity choice
Choosing an entity in New York City
Sole proprietor, LLC, or S corporation, driven by profit and self-employment tax, with the New York City twists that change the answer.
Entity choice and the New York elections. Illustrative, not tax advice.
This is for you if
You have a bookkeeper but still cannot tell which parts of the business actually make money.
You are a sole proprietor or partnership and just learned the city has an Unincorporated Business Tax.
You are not sure your entity is right now that New York City taxes your S corporation at the entity level.
You want a CPA to call before decisions, not an hourly meter after them.
What you get
Financials you can act on A monthly package built around your business, with the metrics that drive it and a read on what moved.
Entity and city tax planning The S, UBT, and PTET math modeled for your numbers across the federal, state, and city layers.
The elections handled The New York S election on CT-6 and the state and city PTET elections made on time, with the credits reconciled.
A CPA to call A New York-licensed CPA who answers within one business day, at a flat monthly price.
How We Help
What you get
A CPA-led accounting relationship that turns your books into decisions and keeps the New York City tax bill managed across the year.
Financials you can act onA monthly package built around your business, with the metrics that drive it and a read on what moved.
Entity and city tax planningThe S, UBT, and PTET math modeled for your numbers across the federal, state, and city layers.
The elections handledThe New York S election on CT-6 and the state and city PTET elections made on time, with the credits reconciled.
A CPA to callA New York-licensed CPA who answers within one business day, at a flat monthly price.
When companies bring us in
You have a bookkeeper but still cannot tell which parts of the business actually make money.
You are a sole proprietor or partnership and just learned the city has an Unincorporated Business Tax.
You are not sure your entity is right now that New York City taxes your S corporation at the entity level.
You want a CPA to call before decisions, not an hourly meter after them.
The Detail
The gaps, and how we close each one
Service 01
Accountant versus bookkeeper: the line that matters
Owners often hire more bookkeeping when what they actually need is an accountant. Clean books tell you what happened. They do not tell you whether your entity is right, whether the city taxes are being managed, or what the numbers say about the decision in front of you.
How we handle it
We do both, so the books feed the planning instead of sitting unused. The bookkeeping keeps the ledger current and reconciled; the accounting turns it into decisions: which parts of the business make money, whether the entity still fits, how the city and state tax bills are trending, and what to do before year-end while the levers are still available. Many New York City businesses start with our bookkeeping and move up to accounting as the decisions get bigger.
What you get: Books kept current and turned into monthly decisions you can act on.
Service 02
Entity choice, with the New York City twists
The entity decision that a national accountant models for federal tax alone gives the wrong answer in New York City, because the city taxes cut differently. An S corporation that saves federal self-employment tax still faces an entity-level city tax, and a sole proprietor or partnership faces the Unincorporated Business Tax an incorporated business avoids.
How we handle it
We model the entity for your numbers across all three layers. Above a certain profit, an S election can cut federal self-employment tax, but New York City taxes the S corporation itself at 8.85 percent because it does not recognize the federal election, so the city cost has to be in the model. A sole proprietor or partnership owes the 4 percent Unincorporated Business Tax on New York City income, with a credit that fully offsets it at lower income and phases out as profit grows, so the crossover point is a real calculation, not a rule of thumb. We run the numbers, recommend the structure, and handle the federal election and New York's separate CT-6 S election where it makes sense.
What you get: An entity recommendation modeled across the federal, state, and city layers, with the elections filed.
Not sure your entity still fits now that the city taxes it differently? Model it with a CPA before the next election deadline.
The pass-through entity tax is one of the biggest levers for a profitable New York City pass-through, and the city adds a second one on top of the state. Both are commonly missed, because they live outside the normal return and follow a strict separate calendar.
How we handle it
We model whether the New York State PTET pays for your situation under the current federal SALT cap, roughly 40,000 dollars through 2029 with a phase-down for high earners, and whether the New York City PTET adds to it, which it can for a partnership with at least one city-resident partner, or an S corporation whose shareholders are all city residents. Both elections are made online together by the March 15 deadline, which has no extension, so they have to be planned ahead. We make the elections, schedule the estimated payments, and reconcile the resulting credits onto each owner's personal return so the deduction actually converts into cash saved.
What you get: The state and city PTET modeled per owner, elected by March 15, and reconciled onto the personal returns.
Service 04
Monthly financials you can actually act on
The value of accounting is in financials that answer the questions an owner actually has: what made money, what did not, and what the next decision costs.
How we handle it
We deliver a monthly package built around your business, not a generic template: the three statements, the handful of metrics that actually drive your model, and a short read on what moved and why. When a decision is coming, a hire, a lease, a price change, we can show its effect before you commit. The point is that the numbers inform the decisions rather than just record them after the fact.
What you get: A monthly financial package built around your business and the decisions in front of you.
Service 05
A CPA to call, year round
Most accounting relationships go quiet between filings, which is exactly backwards: the questions that cost money come up during the year, not in April.
How we handle it
You get a New York-licensed CPA who answers within one business day, at a flat monthly price rather than an hourly meter that discourages you from calling. Entity questions, a big customer contract, a New York City tax notice, whether to buy or lease equipment, we are the standing answer, and because we keep the books and file the returns, the advice is grounded in your actual numbers rather than a guess.
What you get: A New York-licensed CPA on call within one business day, at a flat monthly price.
FAQ
Frequently asked questions
What is the difference between a bookkeeper and an accountant?
A bookkeeper records and reconciles transactions; an accountant interprets the results, plans the tax, and advises on decisions. We do both, so the books feed the planning instead of sitting unused. Many New York City businesses start with our bookkeeping service and move up to accounting as the decisions get bigger.
Should my New York City business be an S corporation?
It depends on your profit, and the city math changes the answer. Above a certain net income, an S election can cut federal self-employment tax, but New York City taxes the S corporation itself at 8.85 percent because it does not recognize the election, so the city cost has to be in the model. We run the actual numbers for your situation and handle both the federal election and New York's separate CT-6.
What is the Unincorporated Business Tax and do I owe it?
The Unincorporated Business Tax is a 4 percent New York City tax on the city income of sole proprietors, partnerships, and LLCs. A single owner generally has to file once business gross income passes 95,000 dollars, and a credit fully offsets the tax at lower income and phases out as profit grows. We determine whether it applies to you, keep the books in the shape it needs, and file it with the return.
Is the New York City PTET worth electing?
It can be, on top of the state PTET, for a partnership with at least one city-resident partner, or an S corporation whose shareholders are all New York City residents. It pays New York City tax at the entity level, where it stays federally deductible, and gives the owners a credit on their personal returns. It is elected online together with the state PTET by March 15, with no extension, so it has to be planned ahead. We model it per owner.
Do you prepare the tax returns too, or just the accounting?
Both. The same team that keeps your books and plans your taxes files the business returns, the New York City business filings, and the owners' personal returns, working from finished books. No handoff to an outside preparer, and no January scramble.
Do you work with contractors and the trades?
Yes, and past the monthly books. We track costs by job and carry work in progress correctly so you know which jobs made money, manage the New York capital-improvement sales tax split that gets the trades audited, and plan the S corporation and PTET elections that fit a profitable shop. We work with the systems you run, including Jobber, ServiceTitan, and Buildertrend.
Do you work with medical, dental, and therapy practices?
Yes. We reconcile insurance collections net of adjustments back to billed production, keep provider compensation splits clean, and plan the entity, equipment, and retirement-plan choices that lower the tax on a high-income practice. We work with the practice systems you run, including Dentrix, Eaglesoft, and Tebra.
Do you work with restaurants and cafes?
Yes. We track prime cost, food and labor as a share of sales, run tips and tip credits correctly through payroll, keep sales tax on prepared food right, and watch the margins that decide whether a location works. We work with the point of sale systems you run, including Toast, Square, and Clover.
Do you work with e-commerce and retail businesses?
Yes. We separate marketplace-collected sales tax from your direct sales, track inventory and cost of goods sold so gross margin is real, and monitor economic nexus as you grow into new states. We work with the platforms you run, including Shopify, Amazon, Stripe, and Square.
Do you work with law firms and professional services?
Yes. We handle unbilled work in progress and retainers, keep attorney trust and IOLTA funds strictly separate from operating cash, and plan the S corporation and PTET elections that fit a partner group's income. We work with the platforms you run, including Clio, MyCase, and LawPay.
Do you work with real estate and property management?
Yes. We keep a profit and loss per property, hold security deposits separate from income, keep depreciation current, and plan the cost segregation, 1031 exchange, and entity moves that drive real estate returns. We work with the platforms you run, including AppFolio, Buildium, and Yardi.
Sources & authorities
Primary sources for this page
The pass-through entity tax.New York's PTET: the election, the March 15 deadline, and the credit each owner claims.
This page summarizes New York State and New York City tax rules for general information, and is not tax advice for your situation. Rates and thresholds change; confirm the current figures with the authority before you rely on them.
