Please note: our offices have moved to 12301 Whitewater Drive Suite 115, Minnetonka, MN 55343
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Our Services

Tax Services

HW & Associates offers a full range of tax services to both our individual and business clients. Our attention to detail and commitment to quality service is what has afforded us the opportunity to grow exclusively from client and personal referrals.

Forms and necessary statements include:

  • 1040 – Individual
  • 1120 – Corporation
  • 1120S – Sub Chapter S Corporation
  • 1065 – Partnership / LLC
  • 1041 – Fiduciary: Trusts & Estates
  • 706 – Estate
  • 709 – Gift
  • 990 – Non-Profit Organization
  • All states income tax returns prepared

We take a proactive approach to tax services. At HW & Associates, every tax return we prepare is checked and rechecked by our computer software AND by our experienced professionals to identify potential problems the IRS may look at more closely. In addition, we provide our individual and business clients with expert tax planning and consulting throughout the year to minimize your tax liability for this year and the next.  By keeping current on new tax laws and legislation, we are in a position to identify key tax planning opportunities that minimize both your current and future tax liabilities.  We can show you how to adjust your payroll withholding to get more money back each week.

For added convenience, HW & Associates provides clients with a free Internet Portal for 24/7 Access to All Tax Documents.  In today’s busy, competitive environment, we understand that you are often working well beyond traditional business hours. As your trusted financial partner, we are always looking for ways to make your job easier, which is why we offer the convenience of private, secure web portals. Using the same secure technology as online banking, portals enable you to exchange materials and instantly access your documents and records directly from our website. 

Tax Services Include: 

Tax Planning and Preparation
Tax planning and preparation form a winning combination for our individual and business clients. Whether you are a sole proprietor or a multi-tiered partnership, our experienced staff can develop tax strategies that take advantage of tax laws and legislation.

Trust and Estate Planning and Tax Preparation
Effective estate and gift planning facilitates the orderly transfer of assets to your beneficiaries, provides security for your surviving spouse, and can reduce or eliminate the tax due upon the transfer of your business and other assets. For business owners, providing for business continuity and succession of ownership is essential. We can guide you through the complex process of getting your financial affairs in order.

IRS Representation
With extensive experience dealing with government authorities, we have achieved a level of competence that will ensure our clients are properly represented before the various federal and state tax agencies.

Sales Tax
Many of our clients are responsible for collecting and submitting sales taxes in many different vicinities. We can assist your company in the compilation of information and preparation of sales tax returns in an efficient and timely manner.

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Comprehensive Accounting

Meaningful, well-organized financial records ensure that your business operations will run more efficiently on a daily basis and are the foundation of a successful business. At HW & Associates, our qualified, experienced staff can assist you with the day-to-day tasks associated with bookkeeping.

HW & Associates provides a complete range of accounting services for your small business. 

  • Monthly / quarterly financial statements
  • Detailed monthly sales and disbursement ledger
  • Internal accounting reports
  • Monthly and quarterly tax reports:
    • State excise
    • IRS forms 940 & 941, W-2, W-3 & 1099
    • Labor & Industries
    • Employment Security
    • All state and federal gambling tax reports
    • Electronic filing of state and federal tax reports
    • Bank Reconciliations
    • Applications for state and federal tax accounts


At HW & Associates, we can serve all of your payroll needs through our comprehensive, online payroll system. Our firm will prepare all necessary payroll tax returns in a timely manner.  Our fees include a comprehensive menu of services that other payroll companies include only at a surcharge.  Our payroll services can cover remote timesheet entry, direct deposit, tax payments and filing, on site check printing, secure web portal, automated vendor payments and more.  Save time and increase efficiency by having your entire payroll, tax, accounting and advising services in one place.

QuickBooks Assistance

Although QuickBooks is designed for the layman to understand, the initial setup and installation can be tricky.  We can assist you with QuickBooks setup and save hours of frustration.  You and your employees will be relieved to know that answers to their QuickBooks questions are just an email or phone call away.  Once QuickBooks is set up and working properly, we can train you and your employees to properly operate  QuickBooks specifically for your business.  We can analyze  your books and make corrections or suggestions to maximize efficiency.

Compilation and Review

Compiled financial statements are useful to small, privately held entities that need help in preparing their financial statements. A review, on the other hand, may be adequate for entities that must report their financial positions to third parties, such as creditors or regulatory agencies. Reviewed financial statements may also be useful to business owners who are not actively involved in managing their companies.


CFO/Controller or Bookkeeping positions

Retirement Planning

Successful implementation and periodic review of your financial status and portfolio will ensure financial stability during your working years and financial independence through your retirement years.

Business Valuation

Whether you are considering the purchase of a new business or in the midst of a difficult divorce, the dollar figure attached to the value of your business is important. We can provide useful and objective analysis to assist you in the valuation of any business in which you have an interest.

Trust and Estate Tax Planning and Preparation

Effective estate and gift planning facilitates the orderly transfer of assets to your beneficiaries, provides security for your surviving spouse, and can reduce or eliminate the tax due upon the transfer of your business and other assets. For business owners, providing for business continuity and succession of ownership is essential. We can guide you through the complex process of getting your financial affairs in order.

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Advisory Services

During times of transition, few things are more important to individuals and business owners than receiving sound advice from an experienced and qualified professional.

For business owners, the valuation you get for your business can make or break a proposition. Whether you’re negotiating a merger, considering new shareholders, attempting to resolve disputes associated with liability, shareholder equity, estate planning or marital dissolution, objective valuation can make the difference between loss or gain, success or failure.

Business valuation is not an exact science. It’s based on judgment, experience and relevant information. So, you need professionals who are well qualified, with significant experience in evaluating all types of organizations.

Our approach is to personally know your business in order to understand what constitutes its value, and also to know you so we understand well your personal goals and desires.   The professional accountants at HW & Associates work closely with you to analyze your operations and historical financial data. Our in-depth knowledge of your business enables us to provide a well-reasoned, fully documented and defensible valuation opinion.

Even the most qualified managers can benefit from competent, objective feedback. HW & Associates can help your business identify areas negatively affecting profitability and growth, and develop solutions that are practical and technically sound. In addition to acting as a sounding board for management, we provide comprehensive, flexible strategies that address the issues affecting your business.  We can help you and your management team develops long-term objectives and specific strategies to facilitate your business’ future growth and success.

HW & Associates provides a full range of personal advisory and business valuation services for the following needs:

  • Purchase or sale of closely held business or business interests
  • Management buyouts
  • Leveraged buyout transactions
  • Bank financing
  • Financial restructuring and recapitalization
  • Payroll planning
  • Employee stock ownership plans (ESOP’s)
  • Analysis and advice concerning pending offers to purchase
  • Valuation of subsidiaries, divisions and joint ventures for spin-off to shareholders and/or sale
  • Physician buy-in to medical practices
  • Court appointed valuations in disputes
  • Minority shareholder disputes and litigation
  • Divorce (equitable distribution)
  • Business damage assessment and determination
  • Bankruptcy
  • Solvency analysis and fraudulent conveyance
  • Reasonable officer compensation determination in disputes with the Internal Revenue Service
  • Mediation
  • Binding arbitration
  • Litigation consulting services provided to trial counsel in preparing to depose and cross-examine valuation experts
  • Starting a New Business
  • Key Performance Indicators

In addition, we provide the following advisory services to assist you with start-up, growth and management of your company:

Cash Flow Analysis
Good cash flow management means having strategies in place that minimize the chance of cash flow problems developing. We work with our clients to establish guidelines that can be used to quickly and inexpensively create a set of policies that will improve your cash flow management.

Strategic Planning
We begin with your vision, a vision that blends your goals and passions as a business owner. Next we build a strategy to support this vision. We help you find your voice and the best strategy to help achieve your vision.

Human Resources
One of the biggest challenges for any business is the management of their team. Having a proper and effective recruiting, interviewing, hiring and training program in place is essential to a successful workplace. A well-prepared Employee Manual and essential documentation can prevent future issues from becoming problematic. We are pleased to review your current process for improvements or to assist you with initial setup.

Personal and Business Goal Setting
Most business owners typically have the majority of their personal wealth tied up in their businesses. Personal Goal Setting allows you to carry out a thorough review of your personal financial position, business involvement and quality of life situation.

Internal Controls
For many small businesses with their limited resources, the protection provided by internal controls is particularly important. There are many types of control mechanisms available; we can help you find the appropriate ones for various types of risk, and how to better develop a set of controls.

Debt Planning
Debt management and the evaluation of financing options are issues that an experienced professional deals with every day. Let us use our experience to assist you in securing financing for your personal or business needs or consolidating your current debt to a more manageable level.

Business Analysis
Our diagnostic tools perform a business health check through a strategic and operational audit. The audit offers a structured approach for revealing the situation of the business in both its wider business environment and internal operations – identifying the strengths, weaknesses, opportunities and threats it faces.

The importance of benchmarking is growing nationwide as increasing numbers of business owners and managers discover how valuable it is as a tool for improving profitability.

Executive Coaching
As a business owner, we understand you face a lot of challenges. The demands on your time often see you immersed in day-to-day problems, putting out business fires instead of working on the business to improve its strategic and economic value. We can assist you by taking an advisory role to help you jump-start your business growth and focus on value creation.

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