Red Wing Tax Planning
The business and tax environment has become increasingly complex. Count on Smith Schafer for tax planning services that maximize your personal and professional tax strategies.
COMPREHENSIVE BUSINESS TAX PLANNING & STRATEGY.
If asked, many Minnesota business owners would be more than happy to find ways to reduce federal, state, and local taxes. Significant savings is often the result of proactive tax planning. A tax plan should be a component of your overall financial goals. It lays out financial decisions, how to reduce tax liability, and increase income. For this reason, it is important to partner with a professional tax advisor to highlight the path to savings.
Our Red Wing office professionals will work closely with you to evaluate your situation and recommend the best approach to lower tax liability and maximize savings so you can focus on growing your business. We often discover missed deductions, overlooked credits, deferred compensation planning options, and restructuring opportunities that can minimize your tax burden.
Business Tax Services:
- Business Tax Filing & Compliance
- Tax Planning & Projections
- Tax Credit Analysis & Preparation
- Cost Segregation Studies
- Corporate Structuring & Restructuring
- Choice of Entity Planning
- Estate Planning
- IRS/State Tax Representation
- Merger & Acquisition
- State & Local Tax – Nexus Studies
Our Red Wing professionals can provide effective tax strategies, coordinated and executed based on your unique situation.
Business Tax Resources
Minnesota Paid Family & Medical Leave (PFML): What Employers Need to Know About Taxes
Minnesota’s Paid Family & Medical Leave (PFML) program is bringing significant changes for employers and employees alike. At Smith Schafer, we are committed to helping Minnesota businesses stay informed and prepared. This article is part of our ongoing series on...
The OBBBA: Key Changes to Charitable Contribution Deductions
The One Big Beautiful Bill Act (OBBBA) introduces three major changes to charitable contribution deductions beginning with the 2026 tax year. Taxpayers should be aware of these updates as they plan future giving strategies.
What Entity Should You Choose for Your Business?
One of the most important decisions when starting a business is choosing the right legal structure. Your choice will affect how you run your business, engage in transactions, protect yourself from liability, and manage taxes.