For the small businesses of Santa Fe's 91,000 people: your books done the day you upload your statements, checked against your bank, for $79 a month.
Free to join. The first 1,000 in get their catch-up free.
Sales tax
New Mexico's sales tax is 4.875%, and cities and counties add their own, about 7.67% in all on average. If what you sell is taxable, you collect it and file returns with the state.
State income tax
New Mexico taxes income at 1.5% to 5.9% in 2026, including the profit from your business.
Federal tax
Working for yourself, you pay 15.3% self-employment tax on most of your profit, plus federal income tax, usually in four estimated payments: April 15, June 15, September 15 and January 15.
Contractors
Paid a contractor $2,000 or more in 2026? Send them a 1099-NEC by January 31.
What a business in Santa Fe keeps track of in 2026. Rates change, so check with your accountant before you file.
Businesses in Santa Fe, by the numbers
Santa Fe County, home to Santa Fe, has 4,976 businesses with employees (Census Bureau, 2023).
That's 4% more than in 2018.
Another 17,686 are run by one person with no employees, about 112 for every 1,000 people.
The most common kinds with employees: professional services (lawyers, accountants, consultants, designers); health care offices (doctors, dentists, therapists); and restaurants, cafés and bars.
What a bookkeeper in Santa Fe does, and what it costs
Looking for bookkeeping services in Santa Fe? Every month a bookkeeper sorts your transactions, matches each account to your bank statement, keeps your receipts and works out the tax you owe. Published price guides put that at $300 to $1,500 a month for most small businesses, and rates in bigger cities run toward the top.
What SumSwift does for $79 a month
Reads your bank and card statements (PDF, CSV or Excel) and sorts every transaction in minutes.
Checks every statement against your bank's printed balances, to the cent.
Asks you about anything it isn't sure of, once per merchant, and remembers your answers.
Matches the receipts you snap with your phone, tracks bills and invoices, and works out your sales tax and what to set aside for income tax.
Profit report, balance sheet and cash flow every month, and a year-end package for your accountant.
It knows New Mexico's rules above, so your sales tax and estimated tax are worked out from your real books. Up to 3 accounts included. Prices in USD.
Published price guides put most small businesses at $300 to $1,500 a month for a bookkeeper, with big-city rates at the top of that range. SumSwift does the monthly work for $79 a month, the day you upload your statements.
Do I need a local bookkeeper in Santa Fe?
No. Bookkeeping works from your bank and card statements, so it doesn't need to be done in person. SumSwift knows New Mexico's tax rules and keeps track of sales tax, estimated tax and 1099s for you.
What taxes does a small business in Santa Fe keep track of?
New Mexico's sales tax is 4.875%, and cities and counties add their own, about 7.67% in all on average. If what you sell is taxable, you collect it and file returns with the state. New Mexico taxes income at 1.5% to 5.9% in 2026, including the profit from your business. Working for yourself, you pay 15.3% self-employment tax on most of your profit, plus federal income tax, usually in four estimated payments: April 15, June 15, September 15 and January 15. Paid a contractor $2,000 or more in 2026? Send them a 1099-NEC by January 31.
Behind on my books. Can you catch me up?
Yes. A catch-up of up to 12 months is $599, once. Upload the statements and the books are done in minutes, checked against your bank to the cent.
Do I still need an accountant?
For your tax return and advice, yes. SumSwift replaces the monthly bookkeeping and gives your accountant clean books, with free access for them.