Redpath Insights

Construction Executive Names Redpath and Company a 2019 Top 50 Construction Accounting Firm

St. Paul, Minnesota (August 2nd, 2019) โ€“ Redpath and Company, Ltd. (Redpath) has been named one of the Top 50 Construction Accounting Firms in 2019 by Construction Executive. A complete list of those companies selected can be found here. 

Major Changes to Minnesota Wage Payment Laws: Wage Theft Legislation for 2019

A major employer law change for business owners went into effect on July 1st, 2019 with criminal provisions effective August 1st, 2019. That is when the Minnesota Legislature enacted a new Minnesota Wage Theft Law, passed and signed by Governor...

HRA Plan Updates: New Individual Coverage HRAs (ICHRA) and Excepted Benefits HRAs (EBHRA)

Health plans are an important benefit that organizations offer their employees and starting in 2020, there are two new ones that organizations wanting to offer HRAs can consider.  HRA The HRA (Health Reimbursement Arrangement) is a type of plan...

Star Tribune Names Redpath and Company a 2019 Top 150 Workplace

St. Paul, Minnesota (June 11th, 2019) โ€“ Redpath and Company has been named one of the Top 150 Workplaces in Minnesota by the Star Tribune. A complete list of those selected is available at http://www.startribune.com/top-workplaces/510737631/ and...

Minnesota Tax Conformity to Federal Tax Cuts and Jobs Act

On Friday, May 31st, Governor Tim Walz signed into law Minnesotaโ€™s response to the federal Tax Cuts and Jobs Act (TCJA). House bill No 5 lays out these changes. Minnesota adopted many of the changes made to the Internal Revenue Code, with several...

Opting Out of S Corporation Status at the State Level to Avoid the $10K SALT Deduction Cap

With the Tax Cuts and Jobs Act limiting an individual taxpayer to a $10,000 ($5,000 for married filing a separate return) state and local tax (SALT) itemized deduction, many taxpayers no longer benefit from itemizing their deductions. Limiting...

Saying No to the Business Interest Expense Deduction Limitation

Taxpayers who are in the real estate or construction industry may benefit from making an election to not be subject to the business interest expense deduction limitation that came about through tax reform.

Newly Proposed Opportunity Zone Regulations

The IRS recently released a set of proposed updated guidance around opportunity zones. You can view a qualified opportunity zones map by clicking here, or read our previous article on the subject by clicking here. Additionally, if youโ€™d like to...

How Can You Reduce Your State Tax Apportionment?

Owners of pass-through entities (S corporations, LLC/partnerships) that sell services or sell/license the right to use intangibles may benefit from analyzing how revenue is being sourced if the owners are residents of states with no income tax...

The Impact of Tax Reform on Merger and Acquisition (M&A) Transactions

Buyers and sellers have always taken taxes and tax law into account when evaluating a potential transaction. Sellers want to make sure that the proceeds they receive, net of their tax liability, is appropriate for what they think the company is...