MINNESOTA CPA Firm
Questions about CPA firms? We have the answers.
We have compiled a list of questions we get asked most often about Smith Schafer and the CPA industry.
Q: WHAT is the difference between a CPA firm and an accounting firm?
A: CPAs are trusted professionals offering high-level analysis and long-view recommendations encompassing every financial picture detail. CPAs have passed a rigorous examination and have met high standards of education. Learn more.
Q: WHAT ARE A CPA’S QUALIFICATIONS?
Hold an undergraduate degree
Complete up to 150 semester hours of education
Pass a comprehensive, rigorous four-section, qualifying examination
Meet strict state licensing guidelines
Fulfill 120 hours of continuing professional education every three years
Abide by a code of professional ethics
Q: ARE THEre THINGS I SHOULD CONSIDER BEFORE talking with a CPA?
A: Yes. Prior to meeting with a CPA, you should ask yourself the following questions:
What is the most challenging part of your job right now? What are your pains?
What are you most concerned about in the future? What keeps you awake at night?
Where is your business doing well and where are you struggling?
Do you need help with financial issues, individual or corporate tax returns, retirement, estate, or wealth management planning?
Will you need financial statements prepared for your business? Do those statements be audited?
Do you want to do as much as possible in-house, or are you considering outsourcing some of your bookkeeping, accounting and/or CFO functions?
What do you expect from your CPA and business advisors?
What is your budget for CPA services?
Q: Should I consult a CPA if I am starting a new business?
A: Yes. Oftentimes, business owners do not think about taxes or accounting until it is too late. It is not a surprise given the time demands and attention needed to start and run a business, manage issues, and maintain strong client relationships. While all of these are important, it is essential to discuss accounting systems, budgets, entity structure, and much more with a CPA before starting a business. Learn more.
Q: WHAT SERVICES DO A CPA FIRM OFFER?
A: We have proactively developed a full-service team to address industry-specific and organizational challenges. We have the experience to communicate clear expectations with our clients, and we work hard behind the scenes to deliver clean, quality results. We are focused on the best advice for every situation, presented in a timely and simple way that solves or avoids problems for our clients.
Our services are designed to help clients achieve their business goals.
Smith Schafer is an ongoing source to help you grow your business with strategies for tax savings, increased profits and new opportunities. We will help you develop a strong plan so you will be in a better position to control costs, build management consensus and respond to opportunities.
Q: DO CPA firms PROVIDE YEAR-ROUND SERVICE?
A: We are here for you 12 months a year, not just during tax season. Whether you have a tax question, need advice on a business decision’s tax implications, or want clarification on a government notice, we are here to help. A well-rounded, high-energy group of professionals are ready to give you the right answers to the issues that concern you most. Our accounting professionals take the time to understand you and your business, so you know you are in good hands.
For your business’s success, it is important to stay informed year-round with current business, industry, accounting, and tax news. Tax laws change constantly, and business owners do not always have the time to keep up with all the new regulations. Smith Schafer can be a valuable resource, helping you stay atop the latest developments.
Q: Where is Smith Schafer certified public ACCOUNTANTS & consultants located?
Why Clients Choose Us
“We have worked with Smith Schafer for over 45 years. They have been great to work with, from wonderful administrative support, tax staff, and CPAs. They have supported us for years with our financials and mergers/acquisitions. Always there to help!”
- Washburn McReavy Funeral Chapels
“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 an 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."
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