Redpath Insights

The Schedule M2RT Questionnaire on MN Trusts: What You Need to Know

If you're looking to transfer wealth, protect your assets, and manage taxes, trusts can help secure a stronger financial future for your business and family. State income tax implications can also affect the way you structure your trusts โ€“ and...

Section 179 Conformity Helps Small Business and Agriculture

October 16, 2020 - In a special session on Oct. 15, the Minnesota State Legislature approved $208 million in tax relief by conforming to federal rules related to Section 179 expensing. Minnesota will now allow up to $1 million in annual Section...

Smarter Minnesota State and Local Business Taxes

March 6, 2020 โ€” Yesterday, on March 5th, 2020, business tax partner John Kammerer testified before the Minnesota House Tax Committee on behalf of S corporations and other pass-through businesses in the state of Minnesota. Testimony can be viewed...

Redpath and Company Announces 2019 Partner and Director Promotions

St. Paul, Minnesota (October 1, 2019) โ€” Certified public accounting firm Redpath and Company, Ltd. (Redpath) has promoted Ryan Everhart and Jared Weiskopf to partner and Teresa Radermacher to director.

Minnesota Tax Conformity to Federal Tax Cuts and Jobs Act

June 3, 2019 โ€” On Friday, May 31st, Governor Tim Walz signed into law Minnesotaโ€™s response to the federal Tax Cuts and Jobs Act (TCJA). House bill No 5 lays out these changes. Minnesota adopted many of the changes made to the Internal Revenue...

Opting Out of S Corporation Status at the State Level to Avoid the $10K SALT Deduction Cap

May 28, 2019 โ€” With the Tax Cuts and Jobs Act limiting an individual taxpayer to a $10,000 ($5,000 for married filing a separate return) state and local tax (SALT) itemized deduction, many taxpayers no longer benefit from itemizing their...

How Can You Reduce Your State Tax Apportionment?

May 1, 2019 โ€” Owners of pass-through entities (S corporations, LLC/partnerships) that sell services or sell/license the right to use intangibles may benefit from analyzing how revenue is being sourced if the owners are residents of states with no...