Rochester Tax Planning
With tax reform and the COVID-19 pandemic, tax planning has been more complicated than usual. At Smith Schafer’s Rochester office, we work with business owners to create a tax plan so you can achieve your financial goals.
There is a lot at stake when it comes to tax.
Our Rochester office experts can evaluate your situation, and recommend the best approach to lower tax liability, maximize savings from allowable deductions and take advantage of available tax credits so you can focus on growing your business.
Our Experience
Smith Schafer was founded in Rochester, MN, in 1971. We have over 50 years of tax expertise, and our experts can help you take advantage of the many tax-saving opportunities available. Our recommendations consider your short-term burdens and long-term goals and are designed to enhance your business profitability.
Business Tax Services:
We provide comprehensive services that guide clients through the tax planning process.
- 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 Rochester professionals can provide effective tax strategies, coordinated and executed based on your unique situation.
Business Tax Resources
Tax Relief for American Families and Workers Act of 2024
On January 19, 2024 the House Ways and Means committee approved the Tax Relief for American Families and Workers Act of 2024.
Irs Issues Voluntary Disclosure Program For Employers to Pay Back Questionable Employee Retention Credits (ERC)
The IRS issued Announcement 2024-3 on December 21, 2023 to roll out the Voluntary Disclosure Program. The program is a process to pay back the ERC credit for recipients who believe they received it in error.
Understanding the Corporate Transparency Act
Effective from January 1, 2024, new and existing business entities (with exceptions) must comply with
the CTA
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Our client satisfaction is exceptional, as demonstrated by our 96.4% satisfaction rate.