Business tax

Create a strategy. Gain value beyond the next tax return.

Proactive Tax Strategies.

A continuing education requirement keeps CPAs up-to-date about changing tax laws. And since tax reform continues to create comprehensive changes, proactive tax planning needs to be a part of your business strategy. Partner with an experienced team of CPAs to help you create saving opportunities both now and in the future.

Every client is different.

Smith Schafer CPAs will work closely with you to evaluate your situation and recommend the best approach to lower the current year’s tax liability, maximize savings from allowable deductions and take advantage of available tax credits so you can focus on growing your business.

Our Experience.

We have over 45 years of experience helping businesses, in numerous industries, effectively manage taxes. To bring you innovative solutions, our team keeps up to date on any new tax laws, tools and trends and we communicate these changes to our clients through our blog, client meetings and seminar events.

Business Tax Services:

Business Tax Filing, Compliance and Planning

Cost Segregation Studies

Estate Planning

IRS/State Tax Representation

Merger & Acquisition

State and Local Tax – Nexus Studies

We know your industry:

Construction & Real Estate

Professional Service Firms

Hospitality

Manufacturing

Transportation

Government

Nonprofit

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Business Tax Resources

Minnesota Sales & Use Tax Accelerated – June Payment

Reading Time: 2 minutes Reminder – Taxpayers who have a Sales and Use Tax liability in excess of $250,000 in the state’s prior fiscal year (July 1 to June 30), are required to make an accelerated payment of the expected June sales tax liability.

Tax-free Disaster Relief Payments to Employees

Reading Time: 2 minutes Employers can issue tax-free disaster payments to their employees under Section 139 of the Internal Revenue Code. The payments are deductible for the employer, but not included in the income of the employee.

IRS Denies Tax Deduction for Forgiven PPP Expenses

Reading Time: < 1 minute On Thursday, April 30, the IRS released Notice 2020-32. It disallows a tax deduction for any expenses paid via a forgiven Paycheck Protection Program (PPP) loan.

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Our client satisfaction is exceptional, as demonstrated by our 95% satisfaction rate.

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Why Clients Choose Us

“Have enjoyed good service for over 30 years.”

- R & W Fleming Corporation

“Our service is always exceptional and never have to second guess the answers.”

- EnergyPrint, Inc.

“Smith Schafer has provided second to none service and value to my business and personal accounts for over 30 years. Their expertise and knowledge are unmatched by any other accounting firm I have encountered over all these years.”

“The relationship we have built over the years with the staff at Smith Schafer & Associates is one that can never be replaced. They are quick with helping us figure anything out, always willing to pick up the phone and walk us through any problem we are having. Also they are just all so friendly and kind!”

“I have worked with Jason Boynton for several years. He has consistently provided exceptional service and advice always delivered in a timely, pleasant manner.”

“Smith Schafer always makes everything go smoothly. They were recommended to us by our community bank. We have been using their services for many years for our small business and personal taxes. We always feel well taken care of and that we are receiving the best advice, direction, information and tax preparation."

- The Dog Perk Corporation

“Smith Schafer always provides great information for our business. They are thorough with our accounting and financial planning. We have leaned heavily on them with interpretation of the PPP Loan and COVID-19 planning. They have been instrumental in our success and are always very knowledgeable and quick to respond to any of our questions."

“The relationship we have built over the years with the staff at Smith Schafer is one that can never be replaced. They are quick with helping us figure anything out, always willing to pick up the phone and walk us through any problem we are having. Also they are just all so friendly and kind!"

“We love our CPA team at Smith Schafer. They have helped us navigate many personal and business decisions."

“Smith Schafer is very dedicated to their clients and always has their best interests in mind. They are very knowledgeable and thinking ahead to what the clients may be needing in the future. We would highly recommend Smith Schafer to our family and friends."