Business Tax Planning and Preparation

Every business faces the reality of tax requirements. Beyond simply preparing all required tax forms, our team wants to be involved in business and tax planning throughout the year. We will regularly advise you and your business, so it functions in a tax efficient manner.

We understand that your personal finances are integrally linked to your business finances. We view the two holistically and offer advice on both fronts. For example, while serving as your small business advisor, we might offer advice on retirement planning and estate planning that will complement your small business and will ultimately leave you in a stronger financial position.

Agriculture Industry

Our firm is in the heart of the Midwest and many of our clients are connected to the agriculture industry. We know what it takes to be in the agriculture industry – many of our staff have farming backgrounds. From closely held family farms to large corporate farms and grain elevators, we provide the sophisticated accounting, tax, and advisory services required in the agricultural environment. We have industry-specific training and knowledge in farm income tax preparation and tax planning services.

Construction and Real Estate

Our team understands the complexity and tax needs for our clients in the construction industry. We provide our contractors advisory services coupled with tax planning and preparation services. Welgaard staff will ensure you remain compliant with sale tax requirements, payroll, bookkeeping, and financial statements.

For clients that are investors in real estate, we advise on the best tax structure for your real estate portfolio to fit you needs. Welgaard provides 1031 exchange consulting, guiding investors on how to defer tax on the sale of real estate if you invest the proceeds into replacement real estate. We will also assist in determining if a cost segregation is needed when purchasing real estate. A cost segregation allows the owner to deduct certain parts of a building over a shorter length of time than is required for the building itself. Our team recognizes the complexity of the industry and offers advisory services to compliment the tax planning and preparation with our clients.

Closely Held Businesses

Small businesses are the backbone of the economy, locally and around the country. Family businesses face unique challenges in every phase of their development from start-up to changes in ownership. Welgaard has decades of experience helping businesses reach their goals. We are proud to assist businesses in learning to set and achieve objectives that provide a firm foundation for success long into the future.

Other industries we serve include:

·         Manufacturing

·         Professional Services

·         Wholesale and Retail