Redpath Insights

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...

Three Common Mistakes on Marital Balance Sheets

May 26, 2020 - The marital balance sheet is an important document when considering the division of assets in a divorce. Prepared correctly, it shows all of the partiesโ€™ assets and liabilities in one place so well-informed decisions can be made...

The CARES Act and Charitable Contributions

May 7, 2020 - The CARES Act that President Trump signed into law on March 27, 2020, contained significant provisions related to charitable deductions, providing many individuals and corporate donors with greater flexibility. New $300 deduction...

Code Section 139: Benefits for Employees and Employers

April 27, 2020 - While it is a little-known section of the Internal Revenue Code, Section 139 can provide employees with benefits on a tax-free basis, and employers a deduction with limited administrative burden. Note that this does not need to...

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...

SECURE Act: Summary of Key Provisions In The New Legislation

January 14, 2020 - 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...

Qualifying a Rental Real Estate Operation for the 199A Deduction

January 8, 2020 โ€” Under the Tax Cuts and Jobs Act, a 20% qualified business income deduction was granted to individuals and qualifying pass-through entities under IRC section 199A. Due to a large number of rental real estate operations owned...

2020 Form W-4 Reversion FAQ

January 2, 2020 โ€” Every year-end, the IRS releases the newest Form W-4 to use for the upcoming tax year. Since 1987 the form has carried forward year over year with the same layout and fields for completion, but with adjustments for tax table...

Updates to Tax Extenders, Refunds, Tax-Exempt Transportation Benefits

December 26, 2019 โ€” On December 20, 2019, the President signed into law the Taxpayer Certainty and Disaster Tax Relief Act of 2019, generally extending a number of โ€œTax Extendersโ€ (bills that are routinely set to expire in one to three year...