TAX & ACCOUNTING BLOG

Reading Time: 2 minute What Is the Employee Retention Credit & How to Claim It For 2021 The employee retention credit (ERC) was first introduced with the CARES Act in 2020, and subsequent tax bills have made the credit...

Reading Time: 1 minute When valuing a business, experts use various valuation methods, such as Discounted Cash Flows (DCF) analysis, comparable company analysis, market value, and asset-based methods. When using the DCF...

Reading Time: 2 minute As a business owner, it is easy to imagine how the company you have built can play an essential role in financing your retirement. But do you have a strategy to make the most out of your money? It is...

Reading Time: 2 minute   American Rescue Plan Act (ARPA) President Biden signed the American Rescue Plan Act into law on March 11, 2021, and it contains numerous provisions that impact millions of Americans. Here is a...

Reading Time: 2 minute   Recordkeeping is one of your most important responsibilities as a business owner, and success depends on creating and maintaining an effective system. Recordkeeping systems range from simple folder...

Reading Time: 3 minute Whether you are setting up a new company or you have been in business for years, you need to evaluate which legal structure is best for your enterprise. No one option is best for every type of...

Reading Time: 2 minute Sound accounting systems and practices are essential tools for managing any construction business. Given the uncertainty in the construction industry, it is imperative to monitor job performance,...

Reading Time: 1 minute The Minneapolis/St. Paul Business Journal named Smith Schafer as one of the Top Accounting Firms in Minnesota. The Business Journal surveys accounting firms annually and ranks them by the number of...