Redpath Insights

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...

6 Questions to Ask When Interviewing a New Construction Accounting Firm

August 18, 2020 - Whether you're growing, restructuring, cleaning house, or just want to know your options, one of the most valuable things you can do when looking for a new construction CPA is to be curious. 

Should You Lease or Buy Construction Equipment in a Recession?

July 28, 2020 - As the economy fluctuates in response to the COVID-19 pandemic, construction companies are weighing everyday transactions with a new scale. The decision of whether to lease or buy construction equipment has always been a decision...

States May Eye Nexus Enforcement to Stabilize Revenue

June 16, 2020 - It has been about two years since the U.S. Supreme Court ruled on South Dakota vs. Wayfair. With the year 2020 featuring other, more challenging news for state coffers, states may start taking a harder look at economic activity...

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...

Minnesota Sales and Use Tax Payment Extensions

April 9, 2020 - The state of Minnesota is extending the grace period for payment of sales and use tax for businesses identified under Emergency Executive Order 20-04. Details include: Businesses that originally had a monthly payment of sales and...

Individual Tax Provisions of the CARES Act

UPDATED - July 1, 2020 - Earlier this year, as part of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), the IRS granted relief to individuals who were required to take an RMD (required minimum distribution) from their...

CARES Act Key Changes to Tax Provisions

March 31, 2020 - On Friday, March 27th, President Trump signed the CARES Act into law providing emergency assistance to individuals and businesses impacted by the coronavirus pandemic. In addition to emergency aid provisions, the $2 trillion bill...

CARES Act Employee Retention Credit and Payroll Tax Deferral

UPDATED: April 13, 2020 - 11:30 a.m. On Friday, April 10, 2020, the IRS issued additional guidance regarding the deferral of payroll tax available under the CARES Act. The most significant clarification relates to the deferral of employment taxes...

Senate Passes CARES Act

March 26, 2020 - Late on the night of March 25, the Senate passed the CARES Act to provide emergency assistance to individuals and businesses impacted by the coronavirus pandemic. The $2 trillion bill passed unanimously and is now going to the...