Redpath Insights

Gloria McDonnell, CPA

Gloria McDonnell, CPA
Gloria McDonnell is a partner, the tax operations director, and serves on the leadership team at Redpath and Company. She specializes in corporate and individual tax planning and compliance, multi-state taxation, international tax, and tax research. Gloria works with closely-held businesses in a variety of industries, and has provided business tax accounting services since 1989, and has been at Redpath and Company since 1996.

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Recent Posts

How Does the Pass-Through Entity Tax Work?

September 21, 2021 - Pass-through entity tax allows an entity to pay taxes directly at the entity level on behalf of members, partners, and shareholders. Enacted in July of this year, it helps to circumvent the $10,000 Federal cap on state and...

Preparing for PPP Loan Forgiveness

UPDATED: May 1, 2020 - 11:44 a.m. On April 30, 2020, the IRS issued Notice 2020-32 which provides guidance regarding the deductibility of expenses related to tax-free loan forgiveness from the Paycheck Protection Program (PPP). The Notice...

CARES Act Employee Retention Credit and Payroll Tax Deferral

UPDATED: April 13, 2020 - 11:30 a.m. On Friday, April 10, 2020, the IRS issued additional guidance regarding the deferral of payroll tax available under the CARES Act. The most significant clarification relates to the deferral of employment taxes...

Changing State Residency and the Minnesota Department of Revenue

November 19, 2018 โ€” Residency is important because residents of Minnesota are taxed on worldwide incomeโ€”no matter if it's earned overseas or in another state. If you're considered a Minnesota resident, everything reported on your federal return...

Requirements for Withholding on Payments to Foreign Vendors

November 13, 2018 โ€” Whether one makes payments to foreign individuals or foreign businesses, there are specific tax rules that one needs to consider. (This section appears as part of Redpath's 2018 Bottomline Newsletter as well.)

Relief from Penalties for Late-Filed Form 5471

October 4, 2018 โ€”One of the more common international reporting requirements is a Form 5471, Information Return of U.S. Persons with Respect to Certain Foreign Corporations. Form 5471 is the primary form used by the IRS to collect the information...

Tax Planning Strategies to Get the Most Out of Your Deductions

June 19, 2018 โ€” Can you itemize, or will you be claiming your new standard deduction? Once you understand the levers available, youโ€™ll know which among them you can pull when it comes to paying Uncle Sam.

IRS Offers International Transition Tax Filing Relief

June 13, 2018 โ€” The IRS has offered penalty and filing relief to many subject to the new transition tax on foreign earnings. They recently updated the frequently asked questions (FAQ) area on their Tax Reform page, with it now outlining relief...

For-Profit or For Fun? Donโ€™t Make the IRS Guess with Your Business Expense Deductions

June 13, 2018 โ€” Do you want to be able to deduct business expenses? Take the right steps to ensure your business will not be deemed a hobby by a taxing authority come audit time. Pending further guidance from the IRS, an effect of tax reform was...

IRS to States: Do Not Sidestep Deduction Limits

May 24, 2018 โ€” Late last year, Congress passed and President Trump signed into law the most comprehensive tax reform package since the 1986 Act. Within that bill was a major change to how much each taxpayer can deduct for the state and local...