How we work


Our Proven Process for NYC Service Businesses

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It’s our job to look at the whole picture.

  • We review the past
  • We fix the present
  • We plan for the future

Built for service businesses in the city that never sleeps.

You’ve ended up here because something isn’t working.


Whether you’re a Chelsea wellness studio, a Soho creative agency or a Williamsburg events company, you’ve got clients to serve and a team to lead.

Between quarterly filings and deciding between LLC vs S-Corp, it’s no wonder most business owners feel lost.

At My Fiscal Office, our process is designed to give NYC service business owners true peace of mind, not just a box-to-tick tax return.

Proactive.
Understanding.
The experts.

Why our clients choose (and stay with) My Fiscal Office


Led by NYC accountants Ken and Stephen, our team knows the challenges NYC businesses face day in and day out. We’ve been there, and we’re ready to support you with clear answers and lots of space to ask questions.

  • Ongoing support with real humans, good conversations, and thought-provoking questions.
  • We’re built for growth: We support your NYC business tax strategies, cash flow goals, and long-term plans.
  • We’re proudly inclusive and approachable. Everything you need from someone who works on your business finances.

Meet Ken

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Meet Stephen

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s.

When an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic.

What it’s like to work with MFO

  • ONCE

    01

    Set-Up

    Create a foundation to track your finances and connect your bank to QuickBooks Online.

  • WEEKLY

    02

    Bookkeeping

    Enter transactions, manage vendor payments, create client invoices, run payroll and pay payroll taxes.

  • MONTHLY

    03

    Review

    Guide you to make informed decisions with a review of your financial statements, cash flow, and forecasts.

  • QUARTERLY

    04

    Plan

    Craft and adjust a plan to save you money while staying on the right side of changing tax regulations.

  • ANNUALLY

    05

    Tax Filing

    Meet your financial duties to the various tax authorities by creating and filing your tax returns.

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Think of it this way:

  • Behind on your books? We’ll catch you up.
  • Confused by NYC tax filings? We’ll explain and file them.
  • Ready to plan for next year (not just survive this one)? That’s our thing.

From tax time stress to full-time support

A lot of firms are only visible in March. That’s not us.


Our clients start with clean books and compliance help before transitioning into strategic support that fuels their next big move.

They’ve helped us restructure how we pay our team and track income. It’s been a huge weight off our plate.
Doug Wingo

Founder, Wingo NYC

New York City

They’re always proactive, never condescending, and truly get what it’s like to run a small business in this city
John Squires

Owner, Wag Club NYC

New York City

Since we started with MFO in 2009, we’ve grown our business and our confidence
Ryan Corvaia

Dish Food & Events

New York City

Stay one step ahead with insights tailored to NYC businesses

We send out a helpful newsletter with genuinely actionable, clear advice every month. Drop your email address and we’ll add you to our list.

Ready for more than a tax return?

Whether you need a fresh start or full-on advisory support, we’re ready. We want to talk about what’s next for your business.

Grab our free guide on the 3 biggest challenges unique to New York City business owners and how to avoid them.


FAQs

What accounting software should I be using?

QuickBooks Online (QBO) makes it easy to collaborate with your accountant and team in real time—no more emailing files or dealing with outdated data. As your business grows, QBO scales with you, supporting payroll, inventory, and advanced reporting needs. It also connects seamlessly with hundreds of third-party apps like Stripe, Gusto, and Shopify, streamlining tasks like payments, payroll, and e-commerce. With everything in one place and accessible from anywhere, QBO helps you stay organized, make faster decisions, and work smarter. It’s the modern accounting platform built for growth and collaboration.

How do I save for retirement as a business owner?

Contributing to a SEP IRA or 401(k) can significantly reduce your tax liability because contributions are typically tax-deductible. That means the money you put in lowers your taxable income, which can reduce the amount you owe. With a SEP IRA, you have until the tax return deadline (including extensions) to make contributions—giving you extra time to save and plan. This flexibility makes it a powerful year-end or post-year-end tax strategy. If you're eligible, these retirement plans are a smart way to keep more of your money now while saving for the future.

Is filing a Tax Extension a smart strategy for business owners?

Filing a tax extension isn’t a red flag—it’s a strategic tool, especially for business owners managing multiple entities or complex finances. It gives you the extra time needed to file a complete and accurate return while maximizing every opportunity to reduce your tax bill.

Maximize Deductions

An extension gives you breathing room to gather all eligible write-offs—particularly important if you’re waiting on K-1s, 1099s, or other late-arriving documents. Rushing to file often means missing deductions that could save you thousands.

Avoid Costly Errors

Filing quickly increases the chance of mistakes, which can trigger audits or require time-consuming and expensive amendments. An extension allows you and your accountant to file correctly the first time.

Optimize Tax Strategy

With additional time, you can work with your CPA to explore SEP IRA or 401(k) contributions, income deferrals, or last-minute business deductions—all of which can significantly reduce your tax liability.

Preserve Cash Flow

If you owe taxes, an extension won’t delay the payment due date, but it does give you time to plan for how to fund the payment without putting stress on your business operations.

Can you handle my payroll?

Yes, we offer complete payroll services for small businesses. We handle weekly, biweekly, or monthly payroll runs, direct deposit setup, and all required tax filings. We ensure your payroll is processed accurately and on time, and we take care of federal and state tax payments, W-2s, and 1099s. Whether you have employees or contractors, we help you stay compliant with labor and tax laws. We also advise on employee classification, benefits, and payroll-related deductions. Our goal is to take payroll off your plate so you can focus on running your business confidently and efficiently.

Do you prepare business and personal taxes?

Absolutely. We prepare and file federal, state, and local tax returns for both businesses and their owners. Whether you’re a sole proprietor, partnership, S-corp, or LLC, we handle your year-end filings, quarterly estimates, and tax planning. We also assist with personal tax returns for business owners, ensuring your personal and business finances are coordinated for maximum tax savings. Our tax services go beyond filing—we proactively look for ways to minimize your liability and help you plan for the future. You’ll receive clear guidance, timely reminders, and peace of mind come tax season.

How much do your services cost?

Our services are offered on a flat monthly pricing model based on the complexity and size of your business. We offer bundled packages for bookkeeping, payroll, and tax services, so you get everything you need in one place—without surprise billing. Pricing typically depends on factors like transaction volume, number of employees, and the level of support you need. We’re happy to provide a personalized quote after a quick discovery call. Transparency is important to us, and we’ll always explain what’s included so you can budget confidently.

Do I still need an accountant if I use QuickBooks?

Yes, even if you use QuickBooks, an accountant plays a critical role in your business. While QuickBooks is a great tool for organizing your financial data, it doesn’t replace expert advice, tax strategy, or financial oversight. We help ensure your books are accurate, compliant, and optimized for tax savings. We also handle complex tasks like reconciliations, adjusting entries, and reviewing your financials for errors. Most importantly, we serve as a strategic partner—helping you plan, budget, and make informed decisions as your business grows. Software is just the start—our expertise brings it to life.