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
R & D Tax Credit for Manufacturing Companies
In general, manufacturing companies are great candidates for the various tax credits the Internal Revenue Service (IRS) offers. One of the most popular is the Research and Development (R&D) Tax Credit.
What are the Pros and Cons of Roth IRAs?
Saving for retirement is important, and the sooner you start planning, the better. Even though Roth IRAs have been around for more than a decade, many people are not aware of exactly how they work.
Tax-Related Items from the Recent COVID-19 Stimulus Bill
Late in the day on Monday, December 21, Congress passed a comprehensive stimulus package. There are several key tax-related provisions in the bill.