Redpath Insights

Redpath and Company Announces 2019 Partner and Director Promotions

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

Private Company Equity Grantsβ€”New Tax Deferral Opportunity for Employees

Generally, an employee receiving employer equity grants, such as restricted stock units (RSUs) or shares of their employer’s stock from exercising employer stock options,  must include in taxable income the value of the shares of stock received...

Saying No to the Business Interest Expense Deduction Limitation

Taxpayers who are in the real estate or construction industry may benefit from making an election to not be subject to the business interest expense deduction limitation that came about through tax reform.

Newly Proposed Opportunity Zone Regulations

The IRS recently released a set of proposed updated guidance around opportunity zones. You can view a qualified opportunity zones map by clicking here, or read our previous article on the subject by clicking here. Additionally, if you’d like to...

New Guidance Will Require More Nonprofits to Pay Unrelated Business Income Tax

The tax-exempt sector has received the much-anticipated interim guidance from the Internal Revenue Service regarding the application of qualified transportation fringe (QTF) benefits.  Under this interim guidance, many tax-exempt organizations...

Changing State Residency and the Minnesota Department of Revenue

Residency is important because residents of Minnesota are taxed on worldwide incomeβ€”no matter if it's earned overseas or in another state. If you're considered a Minnesota resident, everything reported on your federal return is going to be...

Does the Standard Deduction or Itemizing Make Sense for Your Taxes?

Have you itemized in previous tax years? Should you itemize deductions for 2018? You may not, because it might not make the most sense anymore! The Tax Cuts and Jobs Act (TCJA) has eliminated exemptions, increased the standard deduction, and...

For-Profit or For Fun? Don’t Make the IRS Guess with Your Business Expense Deductions

 Do you want to be able to deduct business expenses? Take the right steps to ensure your business will not be deemed a hobby by a taxing authority come audit time. Pending further guidance from the IRS, an effect of tax reform was the elimination...

IRS to States: Do Not Sidestep Deduction Limits

Late last year, Congress passed and President Trump signed into law the most comprehensive tax reform package since the 1986 Act. Within that bill was a major change to how much each taxpayer can deduct for the state and local (e.g. income, real...

Manufacturers Now See Simpler Reporting Requirements

One of the main goals of tax reform is to encourage reinvestment in U.S. domestic production. This is through several relief provisions in the Act, which both simplify tax accounting methods and open up more tax benefits. While we recently posted...