Posts by Jason Arsenault
Is $450 a Month Too Much for Bookkeeping and Accounting in New Mexico?
The Quick Answer It depends on what you’re getting for the $450. If you’re paying someone $450 a month simply to categorize transactions in QuickBooks, it might be expensive. If that $450 gives your business a back office that keeps your books current, reconciles your accounts, handles New Mexico Gross Receipts Tax, helps with payroll,…
Read MoreNew Mexico Truck Taxes Went Up. What Contractors Pay Now
New Mexico raised its weight distance tax by 35% on July 1, 2026. The tax applies to vehicles with a declared gross weight over 26,000 pounds that use New Mexico roads. The first quarterly return at the new rates covers July through September and is due October 31. Passenger vehicle registration fees rose 25% on…
Read MoreWhat Do I Need to Do to Start a Business in New Mexico?
The Quick Answer Starting a business in New Mexico isn’t terribly complicated, but there are several registrations you want to get right from the beginning. For most small businesses, I would start with these steps: Let’s break those down. Why This Confuses So Many New Business Owners Starting the actual business is usually the easy…
Read MoreCan I Afford an Accountant for My New Mexico Business?
The Quick Answer Yes. The better question is whether you can afford not to have one. Most business owners don’t struggle because they hired an accountant too early. They struggle because they waited too long. Why This Confuses So Many Business Owners One of the things I hear most often is: “I’d love to have…
Read MoreNew Mexico Gross Receipts vs. New Mexico Gross Receipts Tax: What’s the Difference?
Short Answer Gross Receipts are the total dollars your business receives from selling products or services. New Mexico Gross Receipts Tax is the tax that may apply to those receipts. They are related, but they are not the same thing. What Are Gross Receipts? Gross Receipts are essentially your business revenue before deductions. It is…
Read MoreDo Contractors Have to Charge New Mexico Gross Receipts Tax?
Short Answer In most cases, yes. If you’re an independent contractor working in New Mexico—whether you’re a painter, plumber, electrician, HVAC contractor, landscaper, roofer, handyman, concrete contractor, or another service professional—you are generally responsible for New Mexico Gross Receipts Tax (GRT). However, there are several deductions and exemptions that may apply depending on the type…
Read MoreShould My New Mexico LLC Be Taxed as an S Corporation?
Short Answer Maybe—but not every LLC should elect S Corporation status. For many profitable small businesses, an S Corporation election can save thousands of dollars in self-employment taxes each year. However, it also comes with additional costs and responsibilities. The decision should be based on your profits—not simply because someone told you every LLC should…
Read MoreCPA vs. Bookkeeper Pricing: What Does My New Mexico Business Really Need?
When you’re a business owner, you probably use the word accountant to describe anyone who helps with your finances. Whether it’s bookkeeping, payroll, tax preparation, or financial advice, they’re all just “my accountant.” It’s not until you start shopping for help that things become confusing. You call a bookkeeper and learn they don’t prepare business…
Read MoreHow Much Should Small Business Bookkeeping and Accounting Cost in New Mexico?
For many business owners, bookkeeping and accounting are necessary but often confusing expenses. If you’ve ever searched online for pricing, you’ve probably found answers ranging from a few hundred dollars per month to several thousand. So how much should bookkeeping and accounting services actually cost in New Mexico? The answer depends on the size and…
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