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
Updated: BOI suspended (again)
On December 26, 2024, a Fifth Circuit panel reinstated a nationwide injunction blocking the enforcement of the Corporate Transparency Act (CTA), just three days after they lifted the injunction originally imposed by a Texas district court. As a result, the...
BOI Reporting Reinstated: January 13, 2025 Deadline
On December 23rd, the Fifth Circuit Court of Appeals granted a DOJ motion to lift an injunction put in place by a Texas district court. With the injunction lifted, BOI filing is due on January 13th, 2025 for most filers. As a result of this ruling, the previous...
Steps to Organize for Tax Preparation
As we approach the end of the year, Smith Schafer would like to help you reduce the stress related to filing taxes. It is important to organize your receipts, forms, and other documents well before tax time.