Redpath Insights

Section 179 Conformity Helps Small Business and Agriculture

October 16, 2020 - In a special session on Oct. 15, the Minnesota State Legislature approved $208 million in tax relief by conforming to federal rules related to Section 179 expensing. Minnesota will now allow up to $1 million in annual Section...

3 Questions to Find the Right Finance Leader for Your Construction Business

Hiring a new finance leader for your construction firm can be a challenge. Even the definition of an ideal candidate can be confusing. Ryan Everhart, CPA, Audit Partner and Client Manager at Redpath, breaks it down into two main questions: "Do...

Redpath Hires EGT and M&A Service Area Leaders

St. Paul, Minnesota (October 5, 2020) โ€” Certified public accounting firm Redpath and Company, Ltd. (Redpath) has hired Jonathan Fortin, J.D., as director of the estate, gift, and trust tax service area, and Joe Hellman, CPA, as director of the ...

HLB Celebrates Winning โ€œNetwork of the Yearโ€

St. Paul, MN, October 2, 2020 โ€“ Redpath and Company, Ltd. announced that its global network of affiliated accounting and advisory firms, HLB International, has been named โ€œNetwork of the Yearโ€ at the 2020 Digital Accountancy Awards. The award was...

Construction Project Managers: How Are They Affecting Your Bottom Line?

Construction business owners know there are countless ways a project can go wrong. Each person on your team is entrusted with a set of responsibilities essential to the company's success โ€“ particularly project managers. But what if you think a...

What the ASC 842 Lease Accounting Standard Means for Your Construction Balance Sheet

ASC 842 is a recent change to leasing standards that, among other things, requires companies to include leases longer than 12 months on their balance sheets. The ramifications of the new standard make it crucial for construction companies to get...

Construction Companies Might Be Eligible for an R&D Tax Credit and Not Even Know It

What do you think of when you hear the term "R&D"? If you picture CAD drawings and beakers bubbling, you're not alone โ€“ but research and development means a lot more types of work than you may imagine. In fact, your construction company might be...

IRS Employee Payroll Tax Deferral Guidance

August 31, 2020 - On Friday, August 28, the IRS issued guidance on President Trumpโ€™s executive order allowing for the deferral of payroll taxes on wages paid after September 1. While the guidance clarifies some items, unanswered questions remain.

PPP Update: Owner-Employee Compensation and Rent-Related Costs

August 28, 2020 - On Monday, August 24, the Small Business Administration (SBA) and Treasury issued additional guidance, in the form of an interim final rule. The new guidance provides a de-minimis rule for the owner-employee compensation...

What to Know Before You Start Succession Planning

August 25, 2020 - What do you want for your business when you leave it? While there are many factors to consider in succession planning, your choice will ultimately come down to answering that question. When you sit down with your team of...