Redpath Insights

Does Your Manufacturing Company Need a CFO or a Controller?

No matter the size of your manufacturing company, there's likely to come a time you'll wonder if you need more internal help with your finances. If you don't have one, you might consider hiring a chief financial officer (CFO) to help develop your...

New Law Makes Big Changes to the Employee Retention Credit

January 7, 2021 โ€“ Most of the excitement from the Consolidated Appropriations Act (CAA) came from clarity on the deductibility of PPP expenses and the additional stimulus checks. However, Congress also passed a very favorable extension and...

What You Should Know Before Hiring an Outsourced Accounting Partner

Sometimes, it's clear to business owners that they need accounting help. Maybe their accounting staff is overworked, deadlines are being missed, or opportunities are passing them by. But other times, business owners find themselves asking whether...

Illinois Local Tax Changes for Out of State Remote Sellers

December 23, 2020 - Starting January 1, 2021, Illinois is enacting the Leveling the Playing Field for Illinois Retail Act that will require remote sellers to collect local taxes based on their productโ€™s delivery location (destination sourcing)....

Small Business Aid and Tax Extenders Included in Year-End Bill

December 22, 2020 โ€“ This week, votes are being cast on two large measures put together by congressional leaders toward both a $900 billion Covid-19 relief bill and $1.4 trillion omnibus spending bill.

Minnesota Economic Assistance Package Available for Some Businesses

December 18, 2020 -On December 16, 2020, Governor Walz signed a COVID-19 economic assistance package into law that provides business assistance grants for certain businesses operating in Minnesota that were closed to the public due to Executive...

Understanding the FFCRA: Tax Credit Opportunity and Compliance Issues

December 16, 2020 - The Families First Coronavirus Response Act (FFCRA), signed into law by President Trump in March 2020, requires certain employers to provide employees with paid sick leave and expanded family and medical leave for reasons...

Remote Work and Nonresident Income Tax Withholding

December 14, 2020 - Some Minnesota companies have Wisconsin resident employees working from home due to Covid-19. These employees may now have an unexpected tax liability when they file their 2020 Wisconsin income tax return if their Minnesota...

PPP Forgiveness Could Take Years for Your Business โ€“ Here's How to Prepare

December 10, 2020 - The Paycheck Protection Program (PPP) was created to help American businesses tide over the COVID-19 coronavirus, and businesses applied in droves: about 5 million businesses were approved for PPP loans by the Small Business...

The Schedule M2RT Questionnaire on MN Trusts: What You Need to Know

November 19, 2020 - If you're looking to transfer wealth, protect your assets, and manage taxes, trusts can help secure a stronger financial future for your business and family. State income tax implications can also affect the way you structure...