Redpath Insights

Minnesota Economic Assistance Package Available for Some Businesses

December 18, 2020 -On December 16, 2020, Governor Walz signed a COVID-19 economic assistance package into law that provides business assistance grants for certain businesses operating in Minnesota that were closed to the public due to Executive...

Remote Work and Nonresident Income Tax Withholding

December 14, 2020 - Some Minnesota companies have Wisconsin resident employees working from home due to Covid-19. These employees may now have an unexpected tax liability when they file their 2020 Wisconsin income tax return if their Minnesota...

PPP Forgiveness Could Take Years for Your Business โ€“ Here's How to Prepare

December 10, 2020 - The Paycheck Protection Program (PPP) was created to help American businesses tide over the COVID-19 coronavirus, and businesses applied in droves: about 5 million businesses were approved for PPP loans by the Small Business...

IRS Employee Payroll Tax Deferral Guidance

August 31, 2020 - On Friday, August 28, the IRS issued guidance on President Trumpโ€™s executive order allowing for the deferral of payroll taxes on wages paid after September 1. While the guidance clarifies some items, unanswered questions remain.

PPP Update: Owner-Employee Compensation and Rent-Related Costs

August 28, 2020 - On Monday, August 24, the Small Business Administration (SBA) and Treasury issued additional guidance, in the form of an interim final rule. The new guidance provides a de-minimis rule for the owner-employee compensation...

Some Experiencing IRS Payment Delays

UPDATED: August 25, 2020 - The IRS has temporarily suspended the issuance of notices CP501, CP503, and CP504 to taxpayers who may have a balance due on their taxes, as a delay between taxes being paid and recognized has created some confusion...

Presidential Executive Order Payroll Tax Impact

August 11, 2020 โ€“ On August 8, 2020, President Trump issued an executive order that allows employees to defer payroll taxes in light of the ongoing COVID-19 pandemic. The executive order directs the Secretary of the Treasury, Steve Mnuchin, to...

How Construction Companies Can Retain Top Talent When Revenue Drops

August 11, 2020 - When new work dries up and your construction company begins backlogged work, the future of your workforce can seem uncertain. How do you keep your best team members through tough times in a market where their next pay increase...

PPP Loan Forgiveness FAQ Updates for August

August 7, 2020 - On August 4, the Small Business Administration (SBA) released additional FAQs on Paycheck Protection Program (PPP) loans. They include information applicable to business owners, independent contractors, self-employed individuals,...

Should You Lease or Buy Construction Equipment in a Recession?

July 28, 2020 - As the economy fluctuates in response to the COVID-19 pandemic, construction companies are weighing everyday transactions with a new scale. The decision of whether to lease or buy construction equipment has always been a decision...