Tax documents and jargon can be confusing, and mistakes can be costly. If you want to maximize accuracy and your return, Richfield Tax can help! Our Richfield, Minnesota-based team has more than 15 years of experience in tax preparation and bookkeeping, and we can get the job done right for you. Contact us today to talk about your tax situation!
Clients Served
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Years of Experience
Richfield Tax specializes in helping underserved families and retirees with their tax preparation needs. Our team knows that every dollar counts, so we stay up to date on the latest tax codes to prepare your taxes with the highest possible accuracy.
As a small business ourselves, Richfield Tax understands how busy you can be. Between your personal life and your trade, it’s hard to find time to prepare your quarterly and year-end tax returns, much less learn how to get the most favorable return. The expert team at Richfield Tax has the experience and training to keep your business compliant.
The Twin Cities have become a rich and diverse cultural hub, and Richfield Tax knows that not only English speakers need help with their taxes. Our team is proficient in Spanish, so we can provide top-tier tax assistance to Spanish speakers!
Tax season can be stressful, especially with ever-changing laws and potential penalties for errors.
At Richfield Tax, we specialize in helping individuals and families maximize their refunds while fully complying with tax regulations. Whether you need assistance claiming deductions, navigating tax credits, or filing a multi-state return, our experienced team will ensure everything is accurate and optimized for your situation.
Managing taxes as a small business owner can be overwhelming, especially when juggling personal and professional responsibilities.
Richfield Tax provides expert tax preparation and planning services to help businesses, contractors, and gig workers stay compliant while maximizing their deductions. Whether you’re self-employed (like an Uber driver), a freelancer, or running a team of five employees, we’ll help you navigate quarterly tax filings, payroll taxes, and year-end reporting.
Accurate bookkeeping is the foundation of any successful business.
Richfield Tax offers comprehensive bookkeeping services tailored to small businesses in the Twin Cities. From managing day-to-day transactions to preparing financial statements, our team ensures your records are always accurate and compliant with state and federal regulations.
Errors in your financial records can lead to costly mistakes and missed opportunities.
Richfield Tax provides account reconciliation services to help you maintain accurate and balanced books. We’ll compare your financial records with your bank statements to identify discrepancies and ensure everything is in order. Our reconciliation service helps small businesses stay organized, avoid penalties, and make better-informed decisions based on accurate financial data.
Planning for retirement requires a thoughtful approach to taxes and investments.
At Richfield Tax, we work closely with your financial planner to align your tax strategy with your long-term financial goals. Whether you’re just starting to save or preparing to transition into retirement, our team can help.
Life’s unexpected challenges, such as accidents or losing a loved one, can leave you facing complex financial and tax issues.
Richfield Tax provides compassionate and professional support to help you navigate these difficult times. Our team will collaborate with your lawyer to address estate taxes, inheritance planning, and other financial concerns.
What documents do I need to bring for individual tax preparation?
Bring your W-2 forms, 1099 forms, Social Security numbers for all dependents, last year’s tax return, mortgage interest statements, medical expenses, and any receipts for deductions or credits.
Can Richfield Tax help me if I worked in multiple states last year?
Yes, we can assist with multi-state tax filings to ensure compliance and accuracy.
Can you help me file both state and federal taxes?
Yes, we provide full-service assistance to file your taxes at the state and federal levels.
Am I eligible for the Earned Income Tax Credit (EITC)?
Your eligibility for this valuable credit depends on your income, filing status, and the number of dependents. We’ll help you determine if you qualify.
How do I know if I need to file a Minnesota state tax return?
If you live in Minnesota or earn any income in the state, you will likely need to file. We can guide you through the requirements.
Can you help me prepare my taxes in Spanish?
Yes, our bilingual team can help you with tax preparation in Spanish so you clearly understand each step of the process.
What’s the deadline for filing my taxes?
Federal and Minnesota state tax returns are usually due on April 15th. Extensions are available, but taxes owed must still be paid by the deadline.
What happens if I owe back taxes?
We can work with you to create a payment plan or resolve issues with the IRS.
How do I schedule an appointment to speak with someone in Spanish?
You can call us directly at the phone number for Spanish-speaking clients or book an appointment online by selecting “Spanish consultation.”
What tax forms do I need to file as a small business in Minnesota?
Depending on your business structure, you may need to file Form 1120 (corporations), Schedule C (sole proprietorships), or Form 1065 (partnerships), along with state forms.
Do I need to file quarterly taxes?
Quarterly estimated tax payments are typically required if you’re self-employed or have employees.
Can you help me with payroll taxes?
Absolutely. We assist with calculating, filing, and paying payroll taxes to keep your business compliant.
What deductions are available for small businesses in Minnesota?
Common deductions include office expenses, mileage, employee wages, utilities, and equipment. We’ll identify deductions specific to your industry.
Do I need to issue 1099s to contractors?
Yes, if you’ve paid a contractor $600 or more in a year, you must issue them a 1099-NEC by January 31st.
What happens if I file my business taxes late?
Late filings can result in penalties and interest. We can help you file an extension or resolve the penalties if you’re behind.
Do you offer help with small business tax in Spanish?
We assist Spanish-speaking small business owners with their taxes, account reconciliations, and financial planning.
May-December | Off Season
By Appointment Only
January-April | Tax Season
Monday-Friday | 11:00 AM-7:00 PM
Saturday-Sunday | 10:00 AM-6:00 PM
98 West 66th Street
Suite #202
Richfield, MN 55423