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Accounting and Bookkeeping Services in Minnesota
1-800Accountant, America’s leading virtual accounting firm for small businesses, handles all your time-consuming bookkeeping and accounting duties with seamless, end-to-end services purpose-built to help your small business develop and grow in Minnesota.
Our Accounting Services for Minnesota Small Businesses
Business Tax Preparation: Get your taxes prepared and filed by a CPA experienced in your industry, and always have confidence in your business tax situation. Our CPAs, with more than 17 years of experience on average, can save your business thousands annually when you leave the complexities of Minnesota tax preparation to them.
Bookkeeping: Strengthen your financial foundation and manage cash flow with error-free bookkeeping done for you that saves time and generates important data-backed business insights. This detailed work provides the best tools for interpreting data with easy-to-understand reporting, enabling your accountant to generate crucial financial modeling.
Tax Advisory: Business tax considerations don't end in April. Through our affordable tax advisory service, you can receive the guidance you need when you need it year-round from a dedicated small business CPA. Strategic planning helps minimize your business tax liability in Minnesota throughout the year while ensuring compliance.
Payroll: Save hours every pay period with our comprehensive payroll service handled for you, including regular tax submissions to the state of Minnesota. This ensures accuracy and gives you the freedom to focus on other aspects of your business.
Business Formation: Experience the advantages of officially establishing your business in the state of Minnesota with our complimentary incorporation service. Just pay Minnesota state fees, and we'll handle the rest. This puts you on a path to hiring employees, creating a business bank account, and enjoying an adjusted business tax structure and maximum tax savings.
Minnesota Corporate Tax Rates and Brackets
| Corporate Tax Rate | Corporate Tax Bracket |
|---|---|
| 9.8% | $0 |
When Do You Have to File Business Tax Returns in Minnesota?
| Partnerships Due Date - Annual Returns | C-Corp Tax Due Date - Annual Returns | S-Corp Tax Due Date - Annual Returns |
|---|---|---|
| The 15th day of the third month following the close of the fiscal year | Due on the same date as federal tax return | Due on the same date as federal tax return |
LLC Renewal Dates and Fees in Minnesota
| How Often Do You Have to Renew Your LLC? | LLC Formation Filing Fee | LLC Yearly/Biennial Filing Fee |
|---|---|---|
| Annually | $155 | $0 (must still file an information report annually) |
Single Filers - Minnesota Tax Rates and Brackets
| Single Filer Rates | Single Filer Brackets |
|---|---|
| 5.35% | $0 |
| 6.80% | $31,690 |
| 7.85% | $104,090 |
| 9.85 | $193,240 |
Single Filers - Minnesota Exemptions and Deductions
| Standard Deduction (Single) | Personal Exemption (Single) |
|---|---|
| $14,575 | n.a. |
Married Filing Jointly - Minnesota Tax Rates and Brackets
| Married Filing Jointly Rates | Married Filing Jointly Brackets |
|---|---|
| 5.35% | $0 |
| 6.80% | $46,330 |
| 7.85% | $184,040 |
| 9.85% | $321,450 |
Married Filing Jointly - Minnesota Exemptions and Deductions
| Standard Deduction (Couple) | Personal Exemption (Couple) |
|---|---|
| 29,150 | n.a. |
What to Look for in Minnesota Accounting and Bookkeeping Services
When choosing an accountant or bookkeeper for your Minnesota small business, business owners should consider these specific factors:
Certifications and State Compliance: Ensure the prospective accountant or bookkeeper possesses relevant certifications, such as a Certified Public Accountant (CPA) designation. They should also have in-depth knowledge of Minnesota's specific tax laws and compliance requirements.
Experience and Specialization: Seek tax professionals with experience in your specific industry. Specialized expertise is vital for managing industry-specific financial matters and strategic planning.
Understanding of Local Economic Conditions: Choose a financial professional who understands Minnesota's local economic environment, including prominent industries including like healthcare, agriculture, manufacturing, and technology. This local insight can influence financial decision-making and tax planning.
Knowledge of State Tax Incentives: Minnesota provides numerous tax incentives for your businesses, such as credits for job creation, research and development, and manufacturing. An experienced accountant or bookkeeper can help you navigate these incentives and maximize your benefits.
Serving Small Businesses Throughout the Entire State of Minnesota
- Minnesota City
- Duluth
- Minneapolis
- St Paul
- Mankato
- St Cloud
- Burnsville
- Eagan
“I’ve been fortunate to have great accountants who care, get back to me very timely, and believe they do a great job getting the most money back they are able to.”
Sal
Actual customer testimonial. Photo is illustrative only.
Additional Minnesota Accounting Resources:
Virtual Bookkeeping: How To Find the Best Online Bookkeeper
CPA vs. Tax Preparer: Which Is Best for Your Business?
10 Common Small Business Tax Questions Owners Are Asking
Talk to a business tax expert today for all your tax needs in Minnesota.
*Based on a $12.2k average 2022 tax refund per client, which is 4x the cost of a full-service package. Source: first-party data.
*Includes average business tax preparation, form completion and submission, record keeping, and other misc admin time. Source.
*Historical first-party data.