Ramsay & Associates, Ltd.

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Ramsay & Associates, Ltd. Ramsay & Associates, Ltd. Founded in 1976, Ramsay & Associates, Ltd. As a client of ours, your financial success is our primary aim. At Ramsay & Assoicates, Ltd.

is a premier planning and consulting CPA firm specializing in high quality business consulting processes and individual financial support is a premier planning and consulting CPA firm specializing in high quality business consulting processes and individual financial support. You can expect a high level of service along with mutual trust and respect from our team members. Our goal is to educate you on how to maximize your wealth, and to help you gain confidence in making decisions about your business & personal financial future. We strive to know you well enough to champion your cause. Our team of experienced certified public accounts is committed to helping you build a solid foundation for your financial future. We offer a large range of business and personal financial services including tax planning and preparation, accounting, software installation and training, as well as business consulting. Our team is also equipped to assist in IRS and state audit help, research and development credit, business valuation, benefit plan consulting, and succession planning. our goal is to provide quality business, personal, and financial planning advice. Our experienced team works hard to help you in every financial planning, retirement, and investment planning opportunity possible to help you maximize your wealth and gain confidence making wise financial decisions. To learn more about us and the services we offer, please visit our website or give us a call at 651-429-9111 today!

While many of your beneficiaries are likely capable of responsibly managing an inheritance, others may be vulnerable to ...
10/22/2026

While many of your beneficiaries are likely capable of responsibly managing an inheritance, others may be vulnerable to financial pressures, creditor claims, or poor spending habits.

A spendthrift trust can help. It prohibits a beneficiary from directly tapping its funds or transferring rights to someone else. The trust also generally can deny access to creditors. Under a spendthrift clause, the trust beneficiary relies on a trustee to provide payments based on the trust’s terms. Depending on those terms, the trustee may be responsible for making scheduled payments or have wide discretion as to whether funds should be paid, how much, and when.

Contact us for more details.

New tax rules may significantly reduce the cost of providing childcare to your employees. Starting in 2026, the employer...
10/20/2026

New tax rules may significantly reduce the cost of providing childcare to your employees. Starting in 2026, the employer-provided childcare credit generally equals 40% of qualified facility expenses (up from 25%), plus 10% of qualified resource and referral costs, up to $500,000 (up from $150,000). Small businesses may qualify for a 50% rate on qualified facility expenses and a $600,000 limit.

The credit may apply to operating your own facility, contracting with a qualified provider, or participating in a jointly operated arrangement. But eligibility, additional limits, and recapture rules require careful review.

Contact us for help evaluating your options and projecting the credit’s value.

A psychiatric advance directive (PAD) is an often-overlooked estate planning document that can play an important role if...
10/15/2026

A psychiatric advance directive (PAD) is an often-overlooked estate planning document that can play an important role if you ever suffer a mental health crisis.

Similar to an advance health care directive and a health care power of attorney, a PAD documents your preferences for future psychiatric care. It can address a variety of mental health care issues, including your preferred hospital or other providers, treatment therapies, and medications that may be administered — and those that may not be.

You can also appoint someone to make mental health care decisions on your behalf and include a statement of general values, principles, or preferences to guide mental health care decisions.

It’s easy to focus on the excitement of a big win. But before you spend lottery, gambling, or other winnings, be sure yo...
10/13/2026

It’s easy to focus on the excitement of a big win. But before you spend lottery, gambling, or other winnings, be sure you understand the tax impact.

Federal tax law generally treats such winnings as taxable income. Knowing the basic rules can help you avoid surprises when you file your 2026 return next year. For example, if you win more than $5,000, generally the payer (lottery agency, casino, etc.) will withhold 24% for federal tax purposes — which may or may not be enough to cover your tax liability — and send you and the IRS a Form W-2G showing the winnings paid and tax withheld.

There also might be state tax consequences. Contact us to learn more.

IRS or state tax problems don’t have to derail your business. Many issues can be resolved when they’re addressed promptl...
10/08/2026

IRS or state tax problems don’t have to derail your business. Many issues can be resolved when they’re addressed promptly and strategically.

If you or your business receives a tax notice from the IRS or a state agency, don’t ignore it. Be mindful of the notice’s deadline and work with your tax advisor to prepare supporting documentation and an appropriate response. If you owe back taxes that you can’t pay in full, explore potential relief options, such as a temporary delay in collection due to hardship, an installment agreement or payment plan, or a settlement plan.

We can help you communicate with tax authorities and create a plan to get your business back on track. Contact us to learn more.

If you've made charitable contributions this year or plan to make donations between now and year end, it’s important to ...
10/06/2026

If you've made charitable contributions this year or plan to make donations between now and year end, it’s important to know how different types of donations impact tax deductions. That way, you can maximize your tax benefit or, at the very least, avoid finding out at tax time that your charitable deductions are smaller than you expected.

In our latest blog, we break down some of the rules, limits, and changes affecting different types of donations. Find the link in the comments.

A Sec. 530A account is a custodial, tax-advantaged account opened by a parent or guardian for an eligible child under ag...
10/02/2026

A Sec. 530A account is a custodial, tax-advantaged account opened by a parent or guardian for an eligible child under age 18.

The IRS recently issued guidance that allows qualifying 530A account contributions to be treated as completed gifts rather than gifts of a future interest. The upside is that, if the requirements are met, your contributions can qualify for the gift tax annual exclusion, and you may not have to file a gift tax return.

If you don’t meet the requirements, your contributions can still be tax-free, but you’ll have to apply your lifetime gift tax exemption — and your generation-skipping transfer (GST) tax exemption if the GST tax also applies.

Are you thinking about selling your commercial or investment real estate? If the property has appreciated significantly,...
09/30/2026

Are you thinking about selling your commercial or investment real estate? If the property has appreciated significantly, a Sec. 1031 like-kind exchange may allow you to defer tax on some or all of the gain. With this transaction, you exchange the property for another qualifying property, generally deferring tax until the replacement property is sold.

But common misconceptions about Sec. 1031 exchanges can lead to missed opportunities or costly mistakes. For example, the property types don’t have to be identical, and receiving cash or debt relief (“boot”) may trigger taxable gain.

We can help demystify this tax strategy and determine whether it’s right for your situation. Contact us to learn more.

Should you and your spouse establish a single joint living trust or separate trusts? Living trusts, also known as “revoc...
09/28/2026

Should you and your spouse establish a single joint living trust or separate trusts?

Living trusts, also known as “revocable” trusts, allow you to minimize probate expenses, keep your financial affairs private, and provide for the management of your assets in the event you become incapacitated. If you and your spouse are comfortable with each other inheriting your combined assets, a joint trust can be a good choice because of its simplicity.

On the other hand, if shielding assets from creditors is a concern, separate trusts usually offer greater protection. There are also tax implications to consider. Contact us for details.

Certain “small” businesses have a choice of using cash or accrual accounting for tax purposes. If you’re one of them, wh...
09/24/2026

Certain “small” businesses have a choice of using cash or accrual accounting for tax purposes. If you’re one of them, which route should you take?

Cash-basis businesses recognize income when received and deduct expenses when paid, providing greater flexibility in the timing of income and deductions. In contrast, accrual-basis businesses recognize income when earned and deduct expenses when incurred, regardless of the timing of cash receipts or payments.

Even if you meet the eligibility requirements, the cash method isn’t right for every business. And switching methods adds administrative costs. Contact us to learn more about each option.

Address

1620 Mahtomedi Avenue
Mahtomedi, MN
55115

Opening Hours

Monday 8:30am - 4:30pm
Tuesday 8:30am - 4:30pm
Wednesday 8:30am - 4:30pm
Thursday 8:30am - 4:30pm
Friday 8:30am - 4:30pm

Telephone

+16514299111

Website

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