Redpath Insights

SECURE Act: Summary of Key Provisions In The New Legislation

The SECURE Act (Setting Each Community Up for Retirement) recently passed, and the effects on employer-sponsored retirement plans as well as individual tax situations are the most significant since the Pension Protection Act of 2006. The...

Planning Checkup: Accounts Payable Best Practices and Advanced Planning for Year-end

September 30, 2019 โ€” In todayโ€™s evolving business environment, businesses rely on accounts payable for the important task of paying vendors for goods and services. For some companies, this involves numerous transactions and maintaining vendor...

Private Company Equity Grantsโ€”New Tax Deferral Opportunity for Employees

September 24, 2019 โ€” Generally, an employee receiving employer equity grants, such as restricted stock units (RSUs) or shares of their employerโ€™s stock from exercising employer stock options,  must include in taxable income the value of the...

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

July 31, 2019 โ€” 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...

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

July 2, 2019 โ€” 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...

IRS Helps Company Differentiate on Benefits

September 10, 2018 โ€” Companies try a lot of different strategies to recruit and retain talent. Given lower participation in retirement savings plans among their younger generations of staff, one company took action. As a result, the IRS seems...

Do You Pay Income Tax on Employer-Owned Life Insurance Benefits?

March 21, 2018 โ€” As a business owner or employee benefits specialist, you're most likely aware of the Pension Protection Act enacted in 2006. It increased oversight of retirement accounts and held businesses accountable for underfunded accounts....

New Family Medical Leave Tax Credit

February 22, 2018 โ€” [9/26/18 Update: The IRS has issued further guidance on how to calculate the creditโ€”and there is also a Q&A section.] There has been a lot of talk about the โ€œbigโ€ tax law changesโ€”modified tax rates, deductions, etc. However,...