Redpath Insights

2021 Pass-through Entity Tax FAQ

September 21, 2021 - Pass-through entity tax allows an entity to pay taxes directly at the entity level on behalf of members, partners, and shareholders. Enacted in July of this year, it helps to circumvent the $10,000 Federal cap on state and...

Expense Management Tips for CFOs

August 17, 2021 - CFOs have always done more than crunch numbers to manage a companyโ€™s budget and protect its financial assets. As companies emerge from the pandemic, they are looking to their CFO for guidance on โ€œstrategy and the future.โ€ Forbes...

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....

How to Opt-out of the Advance Child Tax Credit

For tax year 2021 only, the IRS has modified the Child Tax Credit and will disburse an early payout of the credit equal to 50% of the amount a qualifying family would normally receive when they file their 2021 tax return. Disbursements began July...

How to Deduct Meals and Entertainment in 2021

July 13, 2021 - Earlier this year, the Consolidated Appropriations Act (CAA) 2021 introduced a temporary 100% deduction for expensing business meals purchased from qualifying restaurants after Dec. 31, 2020, and before Jan. 1, 2023. Under Notice...

How to Properly Allocate Expenses in Your Nonprofit Financial Statements (and Why It Matters)

July 1, 2021 - Common sense tells us that every business needs to know how money is being spent in order to know if the business is truly profitable. Both efficiency and profitability matter to nonprofits as much as any business โ€“ and properly...

Not Sure You Can Claim the R&D Tax Credit? Think Again

June 4, 2021 - If your company does any research and development (R&D), the R&D tax credit can minimize your tax liability. But it's not just for manufacturers and engineers. In fact, you probably do more qualifying R&D work than you think,...

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...

Individual Aspects of the American Rescue Plan

March 26, 2021 - The American Rescue Plan Act of 2021 included many provisions affecting businesses, pensions, payroll, and individuals. Below are some of the provisions affecting individuals.

IRS Extends 2021 Individual Tax Deadline to May 17

March 17, 2021 โ€“ Acknowledging pressure from both Congress and tax and accounting groups, the IRS announced today that it plans to extend this yearโ€™s tax deadline from April 15 to May 17. While the IRS has not yet provided formal guidance, the...