MNCPA PERSPECTIVES

Make your year-end list (and check it twice)

Dec. 5, 2017  |  Geno Fragnito

As 2017 draws to a close, you may find yourself asking, “Where did the year go?” There’s limited time left to complete your personal to-do list before the calendar rolls into 2018.

You’re probably also facing year-end planning for your business, or planning with individual clients. I’m sure the uncertainty around tax reform is not helping with the planning process. You needed answers yesterday, but Washington moves at a snail’s pace. Who knows when (or if) tax reform, extenders or a combination of the two will happen.

For me, a new year means another legislative session will soon start at the Capitol, bringing opportunities to improve current regulations, eliminate outdated regulations and suggest new regulations for the CPA profession. Some of these changes may even positively affect your business or clients.

The best way for me to know what issues to raise at the Capitol is to hear from you. Is there a regulation that needs clarification? Is there a regulation that hasn’t kept up with the evolution of business and society? Or, is there a regulation that simply doesn’t make sense? I’m sure there’s a long list of examples MNCPA members could share.

Legislation is introduced to proactively address an issue and, hopefully, prevent problems later. Or, it’s a reaction to a problem created by a current regulation. Either way, legislators place great value on your experience in order to do their best job serving their constituents. But, if your legislator doesn’t know you or that a problem exists, they’re not able to help with a solution.

So, what issues are on your list? Is there one item on your list that’s impacting how your business operates? Are there multiple regulations that seem redundant or conflicting? Do you have many clients groaning over the same burdensome regulation they must follow?

If you’re not facing any regulatory concerns at your business, then that’s great! But, I know many of you are. If you haven’t been keeping track, now is the perfect time to start. If you have been noting your concerns, then it’s time to check that list again, and engage the MNCPA and your legislators in a possible solution.

Here’s a simple New Year’s resolution to bring added value to your business or clients: make a list, check it twice and engage in the conversation to drive change.


Topics: Legislative, Regulation

Geno Fragnito

Geno Fragnito is the MNCPA’s government relations director, advocating on behalf of the CPA profession. His days consist of last-minute meeting changes, building relationships with lawmakers, helping CPAs navigate state government, and putting in more than 15,000 steps per day walking the halls of the Capitol. Geno unwinds with a little golf and traveling with his family. If he weren’t a lobbyist, Geno would perfect his cast and be a professional fisherman. Geno can be reached at 952-885-5550 or gfragnito@mncpa.org.

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