Fall Tax Newsletter

As always, savvy planning in the last quarter of the year can pay off in lower taxes next year when you file your return. Some tax planning is fundamental: most people will benefit by accelerating tax deductions into 2014, while deferring income into 2015. Yet, there is now a distinct divide between taxpayers reporting high income and all other Americans. Generally speaking, as a result of recent legislation, if your annual income is over $200,000 you must cope with far more tax complexity than other taxpayers face.

Click here to read more.

Red Wing Chamber Business Expo

Red Wing Chamber Business Expo

Red Wing staff enjoyed networking with local businesses at the Red Wing Chamber of Commerce Chamber Expo at the St. James Hotel on Oct. 21. 

"Lots of great food, drinks and interaction with old faces and new."

Pictured below: Amanda Schroeder and Diane Johnson

Affordable Care Act

5 Things Everyone Needs to Know


On Feb. 10, 2014, the IRS issued final regulations on the Employer Shared Responsibility provisions under the Affordable Care Act. Here are five things everyone needs to know about the Affordable Care Act:


1. The Employer Shared Responsibility Provisions are in affect beginning January 1, 2015.

No Employer Shared Responsibility payments will be assessed for 2014.


2. Number of Employees

Employers will use information about the number of employees they employ and their hours of service during 2014 to determine whether they employ enough employees to be classified as a large employer for 2015.


Edina Chamber of Commerce Golf Event


Fruit and Juice Bar

Kyle had a fun day on the Braemar Golf Course networking and sharing a fruit and juice bar with golfers at the Edina Chamber of Commerce annual golf tournament.  

Pictured to the left: Kyle Spicer

Weekly Tax Update - Aug. 3, 2014



Tax Court Affirms Rejection of Informally Submitted Offer-in-Compromise


Rochester, Minn. - Happiest City

Rochester is one of the happiest cities to live in America. 

Check out the MSN news article about the 10 Unhappiest & Happiest Cities in America. We sure enjoy having one of our four offices located in one of the happiest cities in America. Great city and great people!
Make sure to check out all four of our office locations by clicking the Contact Us tab.

Rochester Area Chamber of Commerce Golf Event

It was a beautiful day for golf at the Rochester Area Chamber of Commerce annual tournament. Pictured: Ben Turnquist, Jill Eggerichs and Gus at our '70s themed booth! 

Weekly Tax Update - July 21, 2014



Only One IRA Rollover per Year

United Way's Power of the Purse Lunch

Smith Schafer staff attended the United Way's Power of the Purse lunch on June 17, 2014 to raise support for early childhood programs. 

Thank you for putting on such a wonderful event United Way of Olmsted County

Pictured below: Kali Olstad, Shelly O'Groske, Trisha White, Jill Eggerichs, Karen Harlos, Jenny Hosfold, Jenna Bowman and Judy Hasti.

MSBOA Conference

Minnesota School Bus Operators Association Summer Conference











Smith Schafer's Transportation Team had a great time at the Minnesota School Bus Operators Association Summer Conference on June 8 & 9 at Sugar Lake Lodge. A beautiful day for golf, a delcious dinner and many wonderful speakers contributed to the weekends success. 

Pictured above: Bridget Wheeler and Jill Schultz