Ramsay & Associates, Ltd.

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 yo

u 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!

06/04/2026

A comprehensive estate plan does more than distribute your assets after your death. It also protects your voice, your values, and your loved ones during a difficult moment. One critical yet often overlooked component of an estate plan is a living will. Does your estate plan include one?

Our blog outlines what you should know. Follow the link in the comments to learn more.

In today’s digital world, estate planning goes beyond physical property and financial accounts. It must also address you...
06/02/2026

In today’s digital world, estate planning goes beyond physical property and financial accounts. It must also address your digital assets.

From online financial accounts to social media profiles, cloud storage, and cryptocurrency, these assets can hold both financial and sentimental value. Without proper planning, your loved ones may face significant legal and logistical challenges in managing them. One option is to designate a trusted family member or friend as a “digital executor.” His or her role is to carry out your instructions, access accounts, and ensure digital property is handled appropriately.

Contact us to learn more about how to address your digital assets in your estate plan.

Companies that engage in research and development activities may qualify for a federal tax credit for some of those expe...
05/27/2026

Companies that engage in research and development activities may qualify for a federal tax credit for some of those expenses.

The research credit is complicated to calculate, and not all research activities are eligible. But the tax savings can be significant. Certain taxpayers may even be able to use the credit to offset employer-paid payroll taxes or the owners’ alternative minimum tax obligations.

We can help you navigate the complexities of claiming this credit, including how it works, which costs may qualify, and how it interacts with the deduction for research and experimentation costs.

Contact us to discuss your business’s eligibility and quantify the potential benefits.

Today, we remember and honor the legacy of those who made the ultimate sacrifice for our freedoms.Our office is closed i...
05/25/2026

Today, we remember and honor the legacy of those who made the ultimate sacrifice for our freedoms.

Our office is closed in observance of the Memorial Day holiday.

A family limited partnership (FLP) allows you to manage and protect your wealth while gradually transferring ownership i...
05/21/2026

A family limited partnership (FLP) allows you to manage and protect your wealth while gradually transferring ownership interests to your children or other heirs. You can fund the FLP with a family business, real estate, investments, or other assets.

Transferring FLP interests to family members removes the value of the underlying assets from your taxable estate. Although interests that are gifted rather than sold (or sold for less than fair market value) are taxable gifts, they can be shielded (in whole or in part) from federal gift tax by your gift and estate tax exemption. Additional benefits include potential income tax savings and protection from creditors.

Contact us for details.

How you capitalize your C corporation isn’t just an accounting matter—it’s a tax-saving opportunity. You can set up fund...
05/19/2026

How you capitalize your C corporation isn’t just an accounting matter—it’s a tax-saving opportunity. You can set up funds supplied by shareholders as either capital contributions (equity) or loans (debt).

Future withdrawals by equity investors may result in double taxation. Conversely, repayments of shareholder loans are generally tax-free, while interest payments are taxable to the shareholder and deductible by the corporation. This setup provides a more tax-efficient way to get money out of your company. However, the IRS may reclassify shareholder loans as equity if not properly structured and documented.

Contact us to evaluate your options and determine what’s right for your situation.

Whether intellectual property (IP), such as patents and copyrights, is a significant source of wealth or only a small fr...
05/14/2026

Whether intellectual property (IP), such as patents and copyrights, is a significant source of wealth or only a small fraction of your estate, it’s critical that you properly address it in your estate plan. Careful planning helps ensure that IP assets are preserved, accurately valued, and transferred according to your wishes.

Often, a professional appraiser is needed to determine fair market value. Then you can decide whether to transfer the IP to family members, charities, or others through lifetime gifts or bequests after your death. The gift and estate tax consequences will likely affect your decision. But you should also consider your income needs.

Contact us to help plan for your IP.

Most businesses close their books on December 31 because it aligns with the calendar year. And it may seem easier for ta...
05/12/2026

Most businesses close their books on December 31 because it aligns with the calendar year. And it may seem easier for tax filing purposes.

But this approach isn’t right for every business. Some entities—such as construction companies, accounting firms, and snowplowing operations—may have valid reasons for adopting fiscal year ends. Aligning a company’s tax year with its operating cycle can streamline reporting and support better planning.

If you’re thinking about changing your business’s year end, contact us to discuss your options. We can also guide you through the IRS approval process.

Life insurance can provide peace of mind. But if your estate is large enough that estate taxes are a concern, it’s impor...
05/07/2026

Life insurance can provide peace of mind. But if your estate is large enough that estate taxes are a concern, it’s important to not own the policy at death. The policy’s proceeds will be included in your taxable estate.

To avoid this result, you can create an irrevocable life insurance trust (ILIT) to hold the policy. But a time may come when you no longer need the ILIT. Does its irrevocable nature mean you’re stuck with it forever? Maybe not.

Depending on the ILIT’s terms and applicable state law, you might be able to pull a life insurance policy out of an ILIT or even unwind the ILIT entirely. Options may include allowing the policy to lapse or swapping the policy for cash or other assets.

Did you know that you can claim tax deductions for animals that serve a bona fide business purpose? This benefit extends...
05/05/2026

Did you know that you can claim tax deductions for animals that serve a bona fide business purpose? This benefit extends beyond agricultural operations. Working animals in many sectors may qualify. To help you understand whether you can capitalize on business deductions for your four-legged coworkers, we've outlined the details in our latest blog.

Find the link in the comments.

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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