Smith Schafer is
an award-winning
accounting & consulting
Firm in Minnesota.

Best of Accounting 2020 logo

9 out of 10 clients would recommend Smith Schafer services.

Smith Schafer received satisfaction scores of 9 or 10 out of 10 from 85.3% of their clients, which is significantly higher than the 2019 industry’s average of 45%.

We Know Your Industry

professional Services Firms

Construction
& Real Estate

Hospitality

manufacturing

nonprofit

transportation

principal Spotlight

John W. Edson, CPA/ABV/CFF, CMA, CVA

Tax & Business Valuation Principal

John Edson headshot“I cannot imagine doing anything else. Working with closely held businesses and their owners to increase their wealth is exciting. I enjoy seeing a business start, progress through its life cycle and return benefits to the owners.”

Latest Blog Post

Buying or Selling a Business: Book Value vs. Fair Market Value

The value of a business is a question on many business owner’s minds. Whether the owner is considering retirement, estate planning, succession planning, reviewing buy/sell agreements or possibly selling, it is important to know what a business may be worth.

4 Recent Accounting Changes

Whether it is working from home, virtual school, or curbside pickup at your favorite restaurant, 2020 has had no shortages of changes and required adaptations. Accounting in 2020 is not exempt from these changes.

IRS Publishes Release Regarding Business Interest Expense Limitations

The Internal Revenue Service (IRS) finalized guidance regarding business interest expense limitations. Here is an overview of the rules.

Upcoming Events

  1. Webinar: COVID-19 Accounting Changes

    October 6 @ 11:00 am - 12:00 pm
  2. Live Webinar: Q&A Regarding Recent Business Tax Changes

    November 5 @ 11:00 am - 12:00 pm
  3. TAX IMPACT: WHAT IT MEANS TO BUSINESS OWNERS IN ROCHESTER, MN

    December 8 @ 8:00 am - 10:00 am

Why Clients Choose Us

Have enjoyed good service for over 30 years.

 - R & W Fleming Corporation

Our service is always exceptional and never have to second guess the answers.

 - EnergyPrint, Inc.

Smith Schafer has provided second to none service and value to my business and personal accounts for over 30 years. Their expertise and knowledge are unmatched by any other accounting firm I have encountered over all these years.

The relationship we have built over the years with the staff at Smith Schafer & Associates is one that can never be replaced. They are quick with helping us figure anything out, always willing to pick up the phone and walk us through any problem we are having. Also they are just all so friendly and kind!

I have worked with Jason Boynton for several years. He has consistently provided exceptional service and advice always delivered in a timely, pleasant manner.

Smith Schafer always makes everything go smoothly. They were recommended to us by our community bank. We have been using their services for many years for our small business and personal taxes. We always feel well taken care of and that we are receiving the best advice, direction, information and tax preparation."

- The Dog Perk Corporation

Smith Schafer always provides great information for our business. They are thorough with our accounting and financial planning. We have leaned heavily on them with interpretation of the PPP Loan and COVID-19 planning. They have been instrumental in our success and are always very knowledgeable and quick to respond to any of our questions."

Smith Schafer has provided second to none service and value to my business and personal accounts for over 30 years. Their expertise and knowledge are unmatched by any other accounting firm I have encountered over all these years."

The relationship we have built over the years with the staff at Smith Schafer is one that can never be replaced. They are quick with helping us figure anything out, always willing to pick up the phone and walk us through any problem we are having. Also they are just all so friendly and kind!"

We love our CPA team at Smith Schafer. They have helped us navigate many personal and business decisions."

Smith Schafer is very dedicated to their clients and always has their best interests in mind. They are very knowledgeable and thinking ahead to what the clients may be needing in the future. We would highly recommend Smith Schafer to our family and friends."

Awards & Recognition