Redpath Insights

Accounts Payable Best Practices and Advanced Tax Planning for Year-end

Editors Note: This blog was originally published in September 2019 and has been updated for accuracy. In todayโ€™s evolving business environment, businesses rely on accounts payable for the important task of paying vendors for goods and services....

SBA Restaurant Revitalization Fund Applications Opening

April 30, 2021 - The Small Business Administration has announced that the Restaurant Revitalization Fund will open for registration by qualifying restaurants on April 30 at 9 am EST, with these same restaurants able to submit applications...

Should You Buy Down to Offset MN's 2021 Unemployment Insurance Tax Assessment?

March 23, 2021 โ€“ Minnesota employers are accustomed to receiving their unemployment insurance (UI) tax rate notices in December notifying them of their unemployment tax rate for the coming year. This early notice generally allows employers time...

Ditch the 'Wage War' to Combat Skilled Labor Shortage in Manufacturing

March 4, 2021 - The manufacturing industry is all too familiar with skilled labor shortages. It is a critical problem that has increasingly plagued manufacturers for years, along with construction, aerospace, and other industries that depend on...

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...

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...

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,...

IRS Releases Final Version of Payroll Form 941

June 24, 2020 - Following the extensive law changes under the Families First Coronavirus Response Act (FFCRA) and the Coronavirus Aid, Relief, and Economic Security Act (CARES), many employers implemented payroll changes and adjustments to...

SBA Releases New Interim Final Rule and Loan Forgiveness Applications

UPDATED: June 18, 2020 - The SBA recently issued additional guidance regarding the Paycheck Protection Program (PPP), along with a revised loan forgiveness application and instructions.  Click here for the revised application and here for the...