Redpath Insights

Qualifying a Rental Real Estate Operation for the 199A Deduction

January 8, 2020 โ€” Under the Tax Cuts and Jobs Act, a 20% qualified business income deduction was granted to individuals and qualifying pass-through entities under IRC section 199A. Due to a large number of rental real estate operations owned...

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. 

Saying No to the Business Interest Expense Deduction Limitation

May 22, 2019 โ€” 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.

Are You Eligible for the IRS 199A Rental Property Tax Deduction?

January 22, 2019 โ€” The question of whether rental property is eligible for the new 20% pass-through deduction is a significant question within the new tax law. The recently released final regulations under IRC 199A, as well as an accompanying...

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...

Tax Reform Act Impacts on the Construction and Real Estate Industry

October 30, 2018 โ€”On December 22nd, 2017 the Tax Cuts and Jobs Act was signed into law. The bill makes major changes to the individual, corporate and international tax code which will have a far-reaching impact on construction companies,...

It's the Final Countdown for Contractor Revenue Recognition Standards

October 18, 2018 โ€”The new revenue recognition standard will be a significant change to the accounting practices of most companies and is intended to provide improved financial statement comparability across both industries and companies....

Opportunity Zones: New Tax Deferral Opportunity

August 28, 2018 โ€”There is an exciting tax-saving opportunity for those investing in designated zones across the country, including within our own metro area. These zones are designed to encourage economic development and create jobs in areas with...

IRS Law Changes on Home Equity Interest Deductions

March 1, 2018 โ€” The Tax Cuts and Jobs Act passed in December changed the rules regarding the deductibility of mortgage and home equity loan interest. Prior to the law change interest on up to $1,000,000 of home acquisition debt and interest on up...

Impact of Tax Reform on Choice of Entity after the Tax Cuts and Jobs Act

January 31, 2018 โ€” Last November, we examined the potential impact of Tax Reform on Choice of Entity. Since the Tax Cuts and Jobs Act was signed into law on December 22, 2017, taxpayers have been working through the changes to try and understand...