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  • Contact Redpath

    Business Tax

    Business Tax

    Practical Business Tax Planning

    For owners of closely held businesses, sound tax planning is essential to making informed decisions. Let our business tax advisers focus on your tax concerns while you focus on your day to day operations. Through extensive consulting, tax knowledge, and accounting expertise, youโ€™ll receive a tax plan that will help you meet your short and long-term goals.

    No Surprises

    Your tax and accounting advisers have significant accounting experience, allowing them to understand the latest regulatory, business, and economic trends. They will educate and guide you through changes and opportunities. During the early planning stages, you will understand potential tax consequences so there are no surprises moving forward. And as an informed business owner, you can make better financial decisions to improve your financial picture and retain more of what you earn.

    Unrivaled Attention

    Along with compliance work, our tax team will assist you in implementing tax and business strategies to help you meet your business goals. The practical advice and ideas you receive come from a thorough understanding of your business and industry. Your advisers proactively seek information on ever-changing tax laws so you donโ€™t have to. There will always be an eye on interpreting how new laws, credits, and deductions can be applied to benefit your business, or where they may create challenges.

    Contact Our Team

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    Specialized Services

    Tax Planning and Compliance

    Our team of experts will assist you in developing a tax strategy that balances your short and long-term goals.

    Entity Structuring

    Many changes can impact the ideal business entity structure such as changes in tax law, business operations, owner goals, employee incentive plans or state laws. Without an annual review of the entity structure, businesses may be missing out on tax benefits, paying excess taxes, exposing assets and owners to liability, or failing to prepare for a possible sale or ownership transition.

    Succession Planning

    Transitions may take years of planning, evaluation, and preparation. When transitioning your business, itโ€™s critical to be prepared. Proper business succession helps ensure your long-term personal and business goals are aligned. Talk with a trusted adviser to help you work through the tough questions.

    Mergers and Acquisitions

    When buying or selling a business, you need the transaction to run smoothly to avoid surprises and mitigate risk. A dedicated team of M&A experts will meet with you to discuss and understand your goals and objectives. They will provide the critical information needed to all parties to help ensure the transaction runs smoothly and without regret.

    Research and Development Tax Credit

    Many businesses often overlook the Research and Development (R&D) tax credit and believe only โ€œnewโ€ products qualify. The tax credit also includes qualifying new manufacturing processes, techniques, or formulas. You can claim your tax credits for up to three years in the pastโ€”and work with experts that will help develop a system to identify future opportunities and track expenditures.

    Cost Segregation Studies

    Cost segregation accelerates depreciation deductions resulting in reduced taxable income and increased after-tax cash flow. Companies planning to build, renovate, remodel, expand, or purchase a new or existing building, or those that completed a project within the last few years, should consider cost segregation services to generate substantial tax savings.

    Multi-State Income Tax

    Be aware of income tax filing requirements within each state you conduct business. Noncompliance can result in steep penalties. You can work with business tax experts that understand the complex nature of multi-state rules and regulations, providing you peace of mind knowing that you are in compliance. Thorough research into individual state rules provides you with a plan to deal with filing requirements and delinquent filings.

    Sales and Use Tax Compliance

    Many companies miss out on sales and use tax refunds or pay vendors unnecessary sales tax, because they are unsure of the regulations. Recover the refunds you deserve and learn how to monitor future transactions and review financial records to remain in compliance. A nexus study will help you understand your level of risk and exposure and can be tailored to your unique needs.

    International Business Advisory

    For privately held businesses that operate in the United States as well as around the world, your advisers will consult with you on tax, audit, and U.S. reporting requirements. You will receive practical advice to expand internationally, structure cross-border transactions, and maintain tax and trade regulation compliance anywhere in the world. As a member of HLB International, a world-wide network of independent firms in more than 100 countries, youโ€™ll have access to a powerful, global network of accounting and business advisers.

    Redpath Insights

    Does Software Development Count as a Research and Development Tax Credit?
    Does Software Development Count as a Research and Development Tax Credit? Editor's note: This piece was updated from 2020 to include additional resources.  June 1, 2023 โ€” Encouraging U.S. economic performance to reach its potential is important enough that there is a tax credit forโ€ฆ Read moreโ€Ž Jun 1, 2023 12:00 PM
    The Dangers for Companies with Low Gross Profit Margins
    The Dangers for Companies with Low Gross Profit Margins Many things can keep business owners up at night these days. One thing they should be looking at very closely is their gross profit margin. This key metric may already be top of mind for some leaders, it couldโ€ฆ Read moreโ€Ž May 25, 2023 12:30 PM
    Avoid the Biggest Payroll Compliance Risks
    Avoid the Biggest Payroll Compliance Risks There is more to paying your employees than simply issuing checks on time. Myriad federal laws and regulations govern payroll, and when it comes to withholding and other specifics, the rules may vary fromโ€ฆ Read moreโ€Ž May 11, 2023 01:45 PM
    Driving Organizational Excellence and Value via Process Optimization
    Driving Organizational Excellence and Value via Process Optimization While many leaders recognize the importance of leveraging best practices, they may not realize the critical role that accounting processes play in building the foundation for a successful future. The benefitsโ€ฆ Read moreโ€Ž May 4, 2023 12:00 PM
    Leveraging a CFO Transition [Video]
    Leveraging a CFO Transition [Video] Losing a CFO is always a challenge. The market for experienced professionals who can come in and immediately handle both the financial reporting and the strategic components of the job is tight. Salaryโ€ฆ Read moreโ€Ž Apr 27, 2023 05:30 PM
    John Kammerer

    John Kammerer, CPA

    Tax Partner, Business Tax Service Area Leader, M&A Service Area Leader

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    Contact John Kammerer

    Redpath
    We know you have many options when it comes to accounting firms in St. Paul or the Twin Cities area, and we know weโ€™re not the right fit for everyoneโ€”but when youโ€™re ready to start a conversation, weโ€™ll be ready to listen.

    Contact Info

    • 55 East Fifth Street, Suite 1400
      St. Paul, MN 55101
    • 4810 White Bear Parkway
      White Bear Lake, MN 55110
    • (651) 426-7000
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