Case Study: Valley Corporation achieves tax savings and succession planning gains with Wipfli

Valley Corporation Research and Development Tax Credit Study and Succession Planning

Valley Corporation, a third-generation cranberry grower in Tomah, Wisconsin, needed help with taxes and long-term planning for the business and its owners. Before working with Wipfli, its taxes were being completed, but its business and retirement plans were lacking.

Wipfli identified that Valley Corporation’s hybrid breeding activities could qualify for an R&D tax credit and performed a study that found a $30,000 credit for the current year. The firm also completed a three-year lookback study that would net nearly $40,000, along with entity restructuring, estate planning, and retirement planning. With an established 401(k) plan, Valley Corporation can invest $80,000 annually on a tax-deferred basis versus just $22,000 with an IRA.