Plus, what's trending at CPA firms this year
MNCPA
MINNESOTA SOCIETY of
CERTIFIED PUBLIC ACCOUNTANTS
Public Practice eNews
DECEMBER 2018
Every cellphone is a security risk, so what's your policy?
TLNT
Does your firm allow employees to use their personal phones for work? From lost or stolen devices to working on unsecured Wi-Fi, it's time to create a policy to protect firm data.
What's trending at CPA firms this year
The Rosenberg Associates
Find out what's trending at CPA firms in terms of staffing and mergers -- including extraordinary shifts that may have you rethinking some services.
One of your client's biggest tax reform boons has an expiration date
Financial Advisor
Even if your wealthy clients aren't quite ready to transfer their estate, now is the time to advise them about the risks of waiting until after 2025.
IRS explains disallowance of qualified transportation fringe benefits for parking
Journal of Accountancy
The parking lot tax has been a "hot-button" issue that left many asking how to determine nondeductible parking expenses. The IRS recently responded, and they offered little relief.
3 smart investments to help retain millennial employees
Entrepreneur
The key to retaining millennials may cost much less than you think -- and can provide a huge value to your firm.
IRS reminds professional tax preparers of data security plan requirements
Intuit
With tax season looming just after the holidays, now is the perfect time to brush up on your obligations to protect client data.
SPONSORED CONTENT:
Drake Software Podcast: Why serving multicultural clients can expand your business
Drake Software
Want to learn more about serving multicultural and mixed-status clients, but don't know where to start?
You can never be reminded enough: Renew your CPA certificate
MNCPA Perspectives
It's renewal and reporting crunch time at the Minnesota Board of Accountancy. All CPAs have until Dec. 31 to comply, but at last count, more than 50 percent of you haven't. Avoid finding yourself on a wild goose chase come Jan. 1.
Proposed regulations outline new business interest expense limitation
Journal of Accountancy
Find out which sections of the Tax Cuts and Jobs Act the proposed regulations cover.
Tax preparer due diligence rules are finalized
The Tax Adviser
Under the new due diligence requirements, tax return preparers who don't follow the requirements can incur penalties. See what needs to be submitted to comply.
10 of the coolest things in space that you had no idea existed
Business Insider
Minnesota winters don't seem quite so bad when compared to the planet with winds up to 5,400 mph and jagged glass rain, or the planet made of ice that appears to be on fire.
Peer Review Tip
Better late than never: There's help!
MNCPA Perspectives

In September, the MNCPA Perspectives blog discussed the way peer reviewers evaluate a firm's compliance audit risk assessment standards. Now there's help! Discover what free resources are available to firms to develop and use their risk assessment skills.

Special Interest Sections have a group just for you
Have a niche interest? There's a group for that!
The MNCPA's special interest sections prove that knowledge is power and there's strength in numbers. How? By encouraging conversations and networking between niche member audiences. Make plans to attend any of the upcoming opportunities:

Not-for-Profit | Jan. 8
Small Firm Roundtable | Jan. 16
Women | Jan. 18

Sign up now
Tax Reform CPE
TCJA: Last chance CPE before tax season
When it comes to something as important as tax reform education, quality matters. Turn to MNCPA CPE for top-of-the-line guidance on the Tax Cuts and Jobs Act.
View tax reform CPE options
Best in class tax reform CPE
CCH tax reform client letters
CCH created more than 50 client letters specifically for the impacts the Tax Cuts and Jobs Act of 2017 may have on families or individuals.
Visit CCH
Did You Know?
112.5 million
Number of Americans expected to travel for the holidays.
This is the worst holiday travel day
Practices for Sale
Tax practice in Chaska area
Gross revenue $96,000
Do you have an open position? A firm for sale? A volunteer opportunity?
Submit a classified ad to the MNCPA.
Don't miss the BOA's Dec. 31 deadline
Dec. 31 is the Minnesota Board of Accountancy's (BOA) CPA certificate renewal, CPE reporting and firm permit renewal deadline.

All CPAs must renew their CPA certificate by Dec. 31. Active CPAs must also report their CPE for the reporting period of July 1, 2015, through June 30, 2018. Remember, CPE rules have changed since the last reporting and renewal period.
Don't miss the deadline!
Learn more about maintaining your CPA certificate

Understand CPE rule changes

Firm permit renewal:
Your CPA firm permit renewal deadline is also Dec. 31. While all CPAs must renew their individual certificates by Dec. 31, a firm's permit is tied to the following individual certificate holders who work at the firm:
  • By Dec. 31: Two-thirds of CPA partners, shareholders, members, managers, directors and officers must be in compliance with their individual CPA certificate.
  • By March 1: All CPAs noted above must be in compliance.
Firms out of compliance on March 1 will have their firm permit automatically revoked.

Understand firm permit renewal
Upcoming event
CPA Day at the Capitol
Feb. 5 | 8 a.m. noon | 3 CPE, technical | Free, members only

Forty new legislators are on their way to St. Paul come January. Shape the debate by being their go-to source for issues important to your firm and the business community overall. From federal conformity to taxing professional services, legislators rely on you to break down the facts.

Learn more
CPA Day at the Capitol
CPE for Public Practitioners
JAN
4
Tax Advisers Update
8:30 a.m. - 4:30 p.m. | St. Paul | 8 CPE, 6.5 CLE, 8 IRS CE
JAN
8
Tax Reform Deep-Dive Series: Minnesota Conformity Update (Webinar)
1 - 2:15 p.m. | Online | 1.5 CPE
JAN
15
Tax Reform Update: Latest Developments for Individuals, Small Businesses, Corporations and Pass-Through Entities
8:30 a.m. - 4:30 p.m. | Bloomington | 8 CPE
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Minnesota Society of Certified Public Accountants
1650 W. 82nd St., Suite 600, Bloomington, MN 55431
(p) 952-831-2707       (f) 952-831-7875
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