Professional Service Firms
We understand the professional services industry since we are part of it ourselves.
Minnesota Professional Service Firm Accounting experts.
Professional service firms are looking to maximize profits, improve cash flow and build businesses with high value to support eventual sale or succession. We have a solid history of developing strategies to achieve these desired results. Our tax experts work with a wide variety of professional service firms to make sure they thoughtfully plan ways to minimize taxes and maximize the bottom line.
Smith Schafer has provided consulting to firm partners throughout Minnesota since 1971. Our Industry Expert Group, comprised of numerous professionals, is committed to serving over 350 Minnesota Professional Service Firms. Some of our clients have less than 10 professionals, while others have several offices around the country with hundreds of staff. Our extensive services enable us to move beyond tax and compliance to provide the advice you need to achieve your business goals.
We understand the industry and what keeps you up at night
Cash Flow Plan, Prep & Forecasting
specialized professional service firm industry services
- Accounting Software Consulting
- 401(k) and 403(b) Plan Audits
- Bookkeeping & Payroll
- Business Valuation
- Projections & Financial Analysis
- Technology Consulting
Let’s start the conversation.
Contact us today to schedule a consultation with one of our industry experts.
We specialize in the following industries
Our Client Survey Results
- Net Promoter Score83.9%83.9%
Average NPS score in the accounting industry – 38%
- Understanding of Client Needs92%92%
- Delivers High-quality, Error-free Work94%94%
Why Professional Service Clients Choose Us
“Have been impressed with the entire operation…whether calling or in person.”
– Tom Illies Insurance Agency
“Greg Epsom is easy to work with and always responds in a helpful manner in a short amount of time and he is very professional and accessible.”
– Ohly Law Office
“Jason Miller and Meha Patel always do a great job!”
– Learning Masters
“Very satisfied with the professionalism and timeliness of the services provided to me.”
– Loucks & Associates
Professional Service Firm Industry Resources
Retirement Plan Options for Professional Service Firms
The pandemic had a significant impact on Minnesota businesses. The combination of forced business closures, new employee safety standards along with supply chain disruptions and sharp increase in materials costs made it very difficult.
Benchmarking Your Professional Service Firm
Like many others, the professional services industry is walking a tightrope to manage cash flow and maintain their workforce. Benchmarking can be a crucial tool right now during the pandemic and as 2020 comes to a close.
Valuing your Professional Service Firm
There are several applications in which the valuation of your business can deliver insight for guiding critical strategic decisions. For example, below are some common scenarios in which a valuation of your professional service firm may be helpful:
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Our client satisfaction is exceptional, as demonstrated by our 96.4% satisfaction rate.