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.
Our EXPERIENCE.
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 attorneys and staff. Our extensive services enable us to move beyond tax and compliance to provide the advice you need to achieve your business goals.
specialized professional service firm industry services
Accounting Services
Tax Planning
Mergers & Acquisitions
Succession Planning
Cash Flow Management
Audit & Review of Financial Statements
Accounting Software Consulting
401(k) and 403(b) Plan Audits
Bookkeeping & Payroll
Business Valuation
Projections & Financial Analysis
Technology Consulting
Industry Involvement
Why Professional Service Clients Choose Us
Let’s start the conversation.
Contact us today to schedule a consultation with one of our industry experts.
Professional Service Firm Industry Resources
Payroll Tax Deferral Memorandum – What Do We Do Now?
Reading Time: 3 minutes On August 8, 2020, President Trump issued an executive order and three memoranda providing or extending COVID-19 relief to individuals and organizations.
Payroll Tax Credits & PPP Loan Guidance
Reading Time: 4 minutes In the last three weeks, two major pieces of stimulus legislation have been signed into law. Both acts provide opportunities for small businesses, but also require additional tracking for proper reporting.
Federal and Minnesota Tax Deadlines Extended
Reading Time: < 1 minute Treasury Secretary Mnuchin announced on Friday, March 20th that the federal tax deadline will be extended until July 15th, 2020 and Minnesota Governor Walz announced that the State of Minnesota will follow suit with income tax filings and income tax payments due July 15th.
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