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Footnote Magazine

Footnote cover

February/March 2020

A new appropriations law signed in December 2019 made quite a few changes to tax provisions. Get a look at what some of them are in the February/March 2020 Footnote.

Also in this issue:
  • Generational differences and if they should play a role in the office.
  • Protect yourself, clients and customers from digital skimming.
  • Cryptocurrency has joined Schedule 1 of Form 1040. Be prepared.

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

The case of Skye’s elite answer
Charles Selcer, CPA, MBA
MNCPA member Chuck Selcer shares his knowledge about ethics requirements and laws with unique humorous fictitious stories.

Involvement is key to a healthy profession, society
Rachel D. Polson, CPA
Get insight and news from MNCPA leadership about the organization and professional issues.

Bye, bye, bye: Appropriations law repeals several taxes, including parking tax for nonprofits
Andrew Seifert, JD, tax consultant, Wipfli LLP
Another year, another set of 11th-hour changes. In late December, Congress passed a new appropriations bill, later signed into law by President Donald Trump. And, boy, were there some doozies in it.

Generation who cares?
Jon Lokhorst, CSP, CPA, PCC
Do generational differences really matter? Consider these thoughts to address the situation in your office.

Business Perspective: Dell
How to maximize the productivity of your CPA firm using Dell displays

Digital skimming — an evolving and adaptive threat
Gwynne Leach
In common language, digital skimming is the theft of information during an online interaction. Are you protecting yourself and others?

Transfer pricing: The cross-border battle for profits continues to heat up
Guy Sanschagrin, CPA/ABV, MBA, WTP Advisors, Minneapolis
The global transfer pricing environment continues to heat up as countries persist in their quest to capture their “fair share” of taxable profits.

MNCPA 2020 board ballot
Meet the candidates for the 2020-21 fiscal year.

Statement disclosures: Your peers describe Minnesota conformity in three words
Corey Butler, MNCPA communications manager
Here is a look at some of our favorite responses, as well as a graphical look at the words that came up the most frequently.

Are you ready for this new crypto question on Schedule 1?
Shehan Chandrasekera, CPA
If you or any of your clients had any cryptocurrency transactions during 2019, a crypto tax software is an essential tool to calculate your cryptocurrency gains and losses.

Understand firm ownership when the unexpected strikes
Anne Janotta Erickson, MNCPA membership marketing team leader
Learn about important news from the Minnesota Board of Accountancy. Monthly topics include rules, CPE requirements, CPA exam information, licensing, and more.

MNCPA 2020 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.