GROWING SMART: BUSINESS SERVICES & OUTSOURCING FOR STARTUPS
BDO in Puerto Rico, as part of social responsibility initiatives, seeks to promote Puerto Rico’s economy by supporting the Parallel 18 entrepreneurial community in their initiatives for new businesses. We offer tailored services at discounted prices for one year to Parallel 18 Hub participants through our Growing Smart Service Program.
BDO’s Outsourced Accounting professionals provide a full range of accounting services to starting organizations and business owners, from temporary and project support, initial regulatory compliance, to a complete outsourced solution.
GROWING SMART REQUIREMENTS:
- Being a Parallel 18 Hub participant
- $250,000 maximum of sales
- Submit online application at www.bit.ly/bdopr-outsourcing
WE WILL PROVIDE ONE TIME SERVICES SUCH AS:
- Employer’s Registration in the Department of Labor and Online portal access request
- Employer’s registration with the Department of Treasury of Puerto Rico and “Hacienda Virtual” online portal registration
- Create merchant account with the Department of Treasury of Puerto Rico on the Unified System of Internal Revenue of Puerto Rico (SURI)
- Enrollment in the Electronic Federal Tax Payment Service (EFTPS)
Growing Smart will back your business with the professionals and resources of one of the world’s largest accounting and advisory organizations, our services are scalable specifically to your needs, both now and in the future – as your business grows, we have the capabilities to grow with you.
SOME OF THE ADVISORY SERVICES FOR STARTUPS ARE:
- Guidance on the tax withholding requirements on payment for services rendered in Puerto Rico.
- Compliance with annual Informative returns filings related to payment for services rendered in Puerto Rico.
- Compliance with monthly sales and use tax returns.
- Compliance with Import declarations and monthly tax return on imports.
- Guidance on Payroll Compliance:
- Employee’s Tax Withholding Exemption Certificate
- Payroll Tax Quarterly Returns (Federal Insurance Contributions, Federal Unemployment, State Unemployment and Disability Insurance)
- Annual employee’s withholding statement (W2 PR forms)
- Workmen’s Compensation Insurance Policy requirements (CFSE)
- Guidance on requirements and procedures to obtain the Municipality business license.
- Department of State annual filing requirement (Annual Report and Dues)
- Advisory support on Quickbooks accounting software:Create company file and chart of accounts
- Employees and Payroll Items setup
- Vendors and Customers setup
- Customize financial reports
Outsourcing services desired: