Redpath Insights

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...

Some Experiencing IRS Payment Delays

UPDATED: August 25, 2020 - The IRS has temporarily suspended the issuance of notices CP501, CP503, and CP504 to taxpayers who may have a balance due on their taxes, as a delay between taxes being paid and recognized has created some confusion...

6 Questions to Ask When Interviewing a New Construction Accounting Firm

August 18, 2020 - Whether you're growing, restructuring, cleaning house, or just want to know your options, one of the most valuable things you can do when looking for a new construction CPA is to be curious. 

How Can the Recession Impact Your ESOP Strategy?

August 13, 2020 - When you're ready to exit your business, you have many options for how to go about planning what will happen when (and after) your exit. Employee stock ownership plans (ESOPs) are one of them โ€“ but how do you know what's right...

Presidential Executive Order Payroll Tax Impact

August 11, 2020 โ€“ On August 8, 2020, President Trump issued an executive order that allows employees to defer payroll taxes in light of the ongoing COVID-19 pandemic. The executive order directs the Secretary of the Treasury, Steve Mnuchin, to...

How Construction Companies Can Retain Top Talent When Revenue Drops

August 11, 2020 - When new work dries up and your construction company begins backlogged work, the future of your workforce can seem uncertain. How do you keep your best team members through tough times in a market where their next pay increase...