Redpath Insights

How Manufacturers Can Endure the Coronavirus Crisis

May 7, 2020 - From creating new layouts of their shop floors to adding second and third shifts that allow production to continue with appropriate spacing, manufacturers are doing all they can to ensure a productive and healthy work environment....

Code Section 139: Benefits for Employees and Employers

April 27, 2020 - While it is a little-known section of the Internal Revenue Code, Section 139 can provide employees with benefits on a tax-free basis, and employers a deduction with limited administrative burden. Note that this does not need to...

Addressing ESOP Valuation Challenges During COVID-19

April 20, 2020 - With the exponential spread of the COVID-19 virus triggering extended governmental stay-at-home orders, the resulting economic turmoil is providing a new challenge for ESOP companies, particularly with their business valuations.

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...

How Culture Defines a Business During Tough Times

April 14, 2020 - It has become fashionable for marketers and spokespeople to talk about culture as a feature of their business like foosball tables and treadmills. Culture has almost become slang, and itโ€™s starting to lose its cool. Culture...

Resources to Help Nonprofit Leaders Navigate the COVID-19 Crisis

April 10, 2020 - Health experts are predicting the next two weeks will be the most difficult stretch in time during the COVID-19 crisis in the United States. For many nonprofit organizations struggling to provide assistance to their clients,...

Minnesota Sales and Use Tax Payment Extensions

April 9, 2020 - The state of Minnesota is extending the grace period for payment of sales and use tax for businesses identified under Emergency Executive Order 20-04. Details include: Businesses that originally had a monthly payment of sales and...

Individual Tax Provisions of the CARES Act

UPDATED - July 1, 2020 - Earlier this year, as part of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), the IRS granted relief to individuals who were required to take an RMD (required minimum distribution) from their...

CARES Act Key Changes to Tax Provisions

March 31, 2020 - On Friday, March 27th, President Trump signed the CARES Act into law providing emergency assistance to individuals and businesses impacted by the coronavirus pandemic. In addition to emergency aid provisions, the $2 trillion bill...

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...