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...
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.
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.
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...
November 19, 2018 โ Residency is important because residents of Minnesota are taxed on worldwide incomeโno matter if it's earned overseas or in another state. If you're considered a Minnesota resident, everything reported on your federal return...
October 30, 2018 โOn 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,...
October 18, 2018 โThe 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....
August 28, 2018 โThere 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...
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...
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...
