Footnote Magazine

Footnote cover

February/March 2019

As we head into the heart of tax season, take a pause to catch up on some tax reform-related items, such as the discussion around cash versus accrual, what to expect at the Capitol this year for tax legislation, and how your peers define tax reform in three words. The February/March Footnote also features:

  • The future of noncompetition agreements for CPA firms.
  • MAP Survey highlights for Minnesota and the Midwest.
  • Unlocking creativity with discipline.

Spotlights
Updates from our members, including promotions, new hires, speaking engagements and firm news.

The case of la Tortuga grande
Charles Selcer, CPA, MBA
MNCPA member Chuck Selcer shares his knowledge about ethics requirements and laws with unique humorous fictitious stories.

May you have it all
Rebecca Keran, CPA, MBA, CGMA
Get insight and news from MNCPA leadership about the organization and professional issues.

Cash versus accrual
It is important to pay attention to the special accounting method simplifications found in the Tax Cuts and Jobs Act, Section 13012.

In light of Lapidus v. Lurie
Thomas J. Shroyer, J.D., Moss & Barnett and Charles E. Jones, Esq.
Minnesota courts upheld a CPA firm’s noncompetition agreement with the firm’s former managing partner, carrying clear takeaways for firms in structuring retirement and noncompetition provisions.

Unlocking creativity with discipline
Amy Vetter, CPA, CITP, CGMA
You may think creativity and accounting mix as well as oil and water. But, what if I told you that your performance and business could improve by strengthening your creative mind?

Keeping pace with accounting standards — an ongoing challenge
The MNCPA General Industries Review Task Force received its highest number of financial statements for review in 2018, demonstrating a need for firms to receive assistance in meeting this challenge.

Business Perspective: Drake Software
To learn more about Drake Software’s new accounting product, the Taxing Subjects Podcast invited Drake Accounting development manager Jay Eager to the studio for a chat.

Putting the star in the North Star State
How do Minnesota CPA firms stack up against their peers, both in the Midwest and the rest of the nation, when it comes to fee growth and other key performance indicators?

Results may vary
Carolyn LaViolette, MNCPA communications manager
We challenged MNCPA members: How would you describe tax reform using only three words?

When it comes to independent study CPE, you don’t get to make the rules
Anne Janotta Erickson, MNCPA senior business & industry marketing coordinator
Learn about important news from the Minnesota Board of Accountancy. Monthly topics include rules, CPE requirements, CPA exam information, licensing, and more.

MNCPA 2019 legislative agenda set
Geno Fragnito, MNCPA director of government relations
Find out about key issues the MNCPA is monitoring at the Capitol. Stay current on legislative news and events with stories, tips and grassroots involvement.