TAX & ACCOUNTING BLOG

Read our blog to stay in-tune with current business trends, tax news and industry updates. Click to explore topics and subscribe to have timely information delivered to your inbox.

R&D Tax Credit for Manufacturing Companies

Reading Time: 3 minute 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...
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5 Things Transportation Companies Should Focus on in 2021

Reading Time: 3 minute Over the past year, the transportation industry has encountered tremendous change. There have been numerous things impacting how the industry functions. As 2021 begins, an excellent way to start this...
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Growth Strategies for a Professional Service Firm

Reading Time: 2 minute According to IBISWorld, most professional service firms’ revenue has been adjusted to decline in 2021 due to a falling demand and tighter budgets. The professional services industry is facing how...
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PPP Update & What You Need to Know About the Employee Retention Credit

Reading Time: 3 minute The new relief bill provides support for businesses during the ongoing pandemic. Learn more about what this could mean for you regarding PPP loans and the Employee Retention Credit.
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Construction Industry: 21 Things to Focus on in 2021

Reading Time: 5 minute The construction industry began 2020 on a relatively high note until the pandemic hit. According to IBIS World, industry revenue is expected to decline by 6.3 percent due to COVID-19. Some projects...
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2021 Tax Deadline Calendar

Reading Time: minute It is that time of year again for businesses to put together their tax filing and payment plans for 2021. While April 15th is the most recognizable tax due date, there are many other dates business...
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Minnesota Minimum Wage Goes Up In 2021

Reading Time: 1 minute Minnesota minimum wage rate adjusted for inflaction as for January 1,2021 Minnesota’s minimum-wage rates will be adjusted for inflation beginning January 1, 2021.
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Forbes Names Smith Schafer a 2021 Top Tax Firm

Reading Time: minute For the second year in a row, Smith Schafer has been recognized on the Forbes America’s Best Tax Firms 2021 List. Smith Schafer is also one of only seven firms in Minnesota to be included on the list.
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What are the Pros and Cons of Roth IRAs?

Reading Time: 3 minute Learn about 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...
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