Tax Planning Strategies for Business Owners in Minneapolis
Tax preparation tells you what you owe. Tax planning helps you owe less. Year-round strategy that keeps more money inside your business.
Tax planning vs tax preparation: what's the difference?
Most business owners think "tax service" means someone files your return in April. That's tax preparation. It's important, but it's not enough.
Tax preparation
Recording what already happened. By the time you see your tax bill, it's too late to do anything about it.
Tax planning · what we offer
Working throughout the year to legally reduce your tax bill before you file.
If any of these sound familiar, you're in the right place
Our tax planning service is for business owners who want to understand their tax situation, reduce surprises, and keep more of what they earn.
Your tax bill keeps growing, and you don't know why
You're making more money, but it feels like the IRS takes a bigger cut every year. And no one explained why.
You got hit with a surprise tax bill
April 15th came and you owed money you didn't budget for. Maybe you're now on a payment plan with penalties and interest.
Multiple entities, and taxes are getting complicated
Maybe a rental property or two. Each entity has different rules, and you're not sure you're taking every deduction you should.
Good money, but you don't see it in your account
Your P&L shows profit, but your bank balance doesn't match. You may be overpaying on taxes and not know it.
You want to reinvest, not hand it all to the IRS
You'd rather hire, buy equipment, or grow. Without a plan, you're leaving money on the table.
Keep more money inside your business
Some firms tell you to pull money out of your business and put it into insurance products, annuities, or other financial products that earn them a commission. We don't do that.
The money you save on taxes should go toward building your business, not toward financial products that benefit someone else.
Understand your business first
Revenue streams, biggest expenses, and goals for the next 1-3 years. Planning must align with your strategy.
Identify legal deductions and credits
QBI, depreciation strategies, retirement contributions, health insurance, and more.
Plan for estimated taxes
We calculate what you'll owe and help you set money aside each month.
Structure your entity for tax efficiency
LLC, S-Corp, or C-Corp? We help you choose (or change) the structure that minimizes your bill.
Review and adjust through the year
If your income changes, you make a big purchase, or your goals shift, we adjust.
The result: You'll know what you owe before April, set money aside throughout the year, and keep more money inside your business, where it belongs.
What's included in our tax planning services
Everything you need to stay compliant and reduce surprises.
Year-round tax strategy and compliance
Ongoing guidance throughout the year so you make tax-smart decisions as you run your business.
Entity structure and reorganization
LLC, S-Corp, C-Corp, or partnership. If it makes sense to change, we guide you through it.
Depreciation, QBI and other deductions
Section 179, QBI (up to 20% of qualified business income), home office, vehicle, retirement contributions, and more.
Multi-state and multi-entity planning
We help you file correctly and take advantage of every available deduction across states and entities.
Estimated tax calculation and guidance
We calculate what you'll owe and tell you when to make payments. No more April surprises.
Year-end tax readiness
By December your books are clean, and your tax preparer has everything they need (or we prepare it ourselves).
Not sure if an expense is deductible? Reach out anytime.
Tax litigation or IRS representation (available separately) · Amended returns for prior years (quoted separately) · Complex international tax situations (quoted separately)
A closer look at each service
Year-round tax strategy and compliance
IncludesEntity structure and reorganization
We'll help youDepreciation, QBI and other deductions
Common deductions we optimizeMulti-state and multi-entity tax planning
If you operate in multiple statesIndustry-specific tax planning
Different industries have different tax challenges. We tailor our tax planning to yours.
Real Estate Investors
Restaurants & Food Businesses
Construction & Trades
Professional Services
Frequently asked questions about tax planning
How much does tax planning cost?
Tax planning is included in our full-service outsourced accounting packages. If you only want tax planning (without bookkeeping), pricing depends on the complexity of your situation. Use our pricing calculator to get an estimate, or schedule a call to discuss your needs.
What's the difference between tax planning and tax preparation?
Tax preparation is filing your return based on what already happened. Tax planning is working throughout the year to legally reduce your tax bill before you file. Preparation looks backward. Planning looks forward.
Do I need tax planning if I already have a tax preparer?
Yes. Most tax preparers only file your return—they don't advise you throughout the year. Tax planning helps you make smart decisions during the year so you owe less when you file. You can keep your tax preparer and still work with us for planning.
Can you take over my tax planning mid-year?
Yes. We regularly help businesses switch their tax planning mid-year. We'll review your current situation, identify opportunities you may have missed, and create a plan for the rest of the year.
What if I'm behind on my bookkeeping?
We can still do tax planning, but it's harder to plan accurately without clean books. We recommend getting your bookkeeping current first (we can help with that), then moving into tax planning.
Do you handle multi-state tax situations?
Yes. If you operate in multiple states or have multi-entity structures, we can help you navigate the complexity. Multi-state situations are more complex and may require additional fees.
What deductions can I take for my business?
It depends on your industry, entity structure, and specific situation. Common deductions include: home office, vehicle expenses, equipment depreciation (Section 179), QBI deduction, retirement plan contributions, health insurance, and more. We'll identify all deductions you're legally entitled to.
When is the best time to start tax planning?
The earlier, the better. Ideally, you should start tax planning in Q1 of the tax year. But even if you're in Q3 or Q4, there are still strategies we can implement. The worst time to start is April 14th (the day before your return is due).
Do you guarantee tax savings?
No. We can't guarantee specific savings because every business is different. What we can guarantee is that we'll identify all legal deductions and strategies available to you. You'll know what you owe before April, and you'll have a plan to pay it.
Ready to stop overpaying on taxes?
Get a customized quote for tax planning in 2 minutes. No phone call required: answer 11 quick questions and see your estimated monthly fee right away.
3359 Central Ave NE Suite 9, Minneapolis, MN 55418