Smith Schafer & Associates is a "Minnesota Top 25" accounting and business consulting firm offering a thoughtful advisory relationship to business and individual clients.

Recent Posts

Advantages & Disadvantages of S Corporations

Whether you are setting up a new company or you have been in business for years, you need to evaluate which legal structure is best for your enterprise. No one option is best for every type of operation.

2017 Year-End Advice

As the end of the year approaches, we want to remind you of various payroll and Form 1099 related changes. As well as other items to consider when processing your year-end forms.

IRS Increases Annual Gift Tax Exclusion for 2018

The IRS has announced the annual gift tax exclusion is increasing next year due to inflation. After five years of being at $14,000, the exclusion will be $15,000 per recipient for 2018 — its highest point ever.