Minnesota financial professionals

Minnesota businesses and individuals face unique financial considerations, from navigating the state's corporate franchise tax and individual income tax system to managing seasonal cash flow in agriculture and tourism-driven industries. Whether you're running a medical device startup in the Twin Cities, managing a manufacturing operation in Rochester, or operating a hospitality business in Duluth, working with a financial professional who understands Minnesota's regulatory environment makes a meaningful difference. The Minnesota Board of Accountancy oversees CPA licensing, while financial advisors register through the Minnesota Department of Commerce or federal regulators. This page helps Minnesota residents and business owners identify qualified accountants, bookkeepers, financial advisors, and fractional CFOs with relevant local expertise.

233 professionals. 850 client reviews. Used by 200,000+ business owners and high net worth individuals.

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What clients are saying

  • "Excellent. They were easy to work with and very responsive. Matisse was very kind and helpful. I would recommend them."
    — Shanna Huber, 0.0 stars, for RK Partners - R&D Tax Credits
  • "Stellar. Team was great, delivered my plan a week ahead of schedule."
    — Matthew Powers, 0.0 stars, for Steward
  • "I like my guy! Chris Roth with 5T Wealth Management. Based out of Napa, California. I use 'em for portfolio management and planning. I chose 'em becau…"
    — Yev, 0.0 stars, for 5T Wealth Management

Frequently asked questions

How much do accountants and financial professionals cost in Minnesota?
Costs vary widely based on service type and complexity. Bookkeepers in Minnesota typically charge $40–$75 per hour or $300–$800 monthly for small business packages. CPAs may charge $150–$400 per hour for tax preparation and advisory work, with business returns often costing $800–$3,000 depending on complexity. Financial advisors commonly work on assets-under-management fees (often 0.75%–1.5% annually) or flat retainer arrangements. Fractional CFOs generally charge $3,000–$10,000 monthly depending on engagement scope and company size.
How do I vet a financial professional in Minnesota?
Start by verifying active licenses through the Minnesota Board of Accountancy for CPAs or the Minnesota Department of Commerce for registered investment advisors. Check their background using FINRA BrokerCheck or the SEC's Investment Adviser Public Disclosure database if they offer investment services. Ask for references from clients in similar industries or situations, and inquire about their specific experience with Minnesota tax regulations. Review engagement letters carefully to understand scope, fees, and communication expectations before committing.
What should I expect when working with a Minnesota accountant or advisor?
Most relationships begin with a discovery meeting to discuss your financial situation, business structure, and goals. Your professional should ask detailed questions about your operations, tax history, and future plans. Expect regular communication during tax season or month-end close periods, plus proactive outreach about estimated tax deadlines, Minnesota-specific filing requirements, or planning opportunities. Good professionals explain complex topics clearly, respond to questions promptly, and provide organized documentation. Many offer secure client portals for document sharing and year-round access to financial reports.
Should I hire a local Minnesota professional or work remotely?
Both arrangements work well depending on your needs and preferences. Remote professionals can serve Minnesota clients effectively using video calls and cloud-based tools, often expanding your options beyond your immediate area. However, local professionals may offer stronger networks with Minnesota banks, attorneys, and industry contacts, plus deeper familiarity with regional economic factors. For complex situations involving Minnesota business incentives, local real estate, or multi-state operations headquartered here, local expertise often proves valuable. Many clients prioritize credentials and communication style over physical proximity.
What credentials should Minnesota financial professionals have?
For accountants, look for active Minnesota CPA licenses or Enrolled Agent (EA) credentials for tax-focused work. Bookkeepers may hold certifications like Certified Bookkeeper (CB) or QuickBooks ProAdvisor status. Financial advisors should be registered investment advisors or representatives, ideally holding CFP (Certified Financial Planner) or ChFC designations. Fractional CFOs often have CPA licenses plus extensive operational finance experience. All professionals should carry appropriate liability insurance and demonstrate continuing education to stay current with Minnesota tax law changes and federal regulations.
What Minnesota-specific tax issues should my accountant understand?
Minnesota imposes both corporate franchise tax and individual income tax with specific calculation methods and credits that differ from federal rules. Your accountant should understand Minnesota's sales tax application, including exemptions for capital equipment and agricultural inputs. They should know about the Minnesota Angel Tax Credit for startup investors, research and development credits for manufacturers, and the subtraction for K-12 education expenses. Pass-through entity taxation rules and Minnesota's treatment of federal items like Section 179 expensing often require careful attention during tax planning and preparation.

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