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Shafer
Showing 1 to 2 of 2 CPAs in Shafer, Minnesota
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Terry A. Hanson
Certified Public Accountant
Verified Licensed
Location Shafer, Minnesota 55074
Terry A. Hanson is an experienced CPA based in Shafer, Minnesota, with over a decade of experience in providing accounting services to small and medium-sized businesses and family-owned enterprises. He specializes in basic accounting services, tax compliance, and business tax services, helping clients navigate complex financial regulations and ensure timely payment of sales taxes. One notable service offered by Hanson is payroll processing and compliance, ensuring accurate payment of employees and timely submission of related tax filings.
HM
Heidi M. Stimson
Certified Public Accountant
Verified Licensed
Location Shafer, Minnesota 55074
Heidi M. Stimson is a certified public accountant based in Shafer, Minnesota. With over 10 years of experience in accounting and tax preparation, she has developed expertise in basic accounting services, business tax services, and small business accounting. She prepares individual and business tax returns and provides IRS representation to clients, offering guidance and support throughout the tax preparation process and any subsequent audits or disputes. Her services cater to small and medium-sized businesses, including various business structures such as S-Corps, partnerships, and LLCs.

Minnesota's robust CPA market serves a diverse economy with numerous Fortune 500 headquarters and strong financial services sector. The Minnesota State Board of Accountancy requires 150 semester hours for licensure. CPAs must complete 120 hours of continuing professional education every three years, including 8 hours of ethics and minimum technical hour requirements.

Key Tax Considerations: Minnesota has graduated individual income tax up to 9.85% (among the highest in the nation) and a flat 9.8% corporate rate. CPAs commonly handle complex state tax compliance, sales tax, and estate tax (Minnesota is one of few states with its own). The high tax rates create strong demand for tax planning and residency strategies, particularly for snowbirds. Cross-border issues with Wisconsin and North Dakota are common for businesses and individuals.

Industry Specializations: Healthcare systems and medical devices, financial services and insurance, food processing and agriculture, retail headquarters, technology, manufacturing, and professional services are primary focus areas. Minneapolis-St. Paul CPAs often serve Fortune 500 corporate headquarters, while Greater Minnesota focuses on agriculture, healthcare, and regional businesses.

For CPA Professionals: The Minnesota Society of CPAs provides excellent resources and networking. The Twin Cities dominate the market with sophisticated corporate and high-net-worth client base, creating strong competition but abundant opportunities. Rochester (Mayo Clinic), Duluth, St. Cloud, and Mankato offer secondary markets with lower cost of living. The state provides strong quality of life, excellent education, and diverse practice opportunities, though high taxes and cold winters are considerations for practitioners and clients alike.