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Footnote Magazine

Footnote cover

November 2021

The November Footnote dives into Minnesota’s pass-through entity tax credit. Other articles in this issue include:
  • Strategies for developing healthier habits in the new year.
  • A look at the new lease accounting standards.
  • Information about last year’s peer review.

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

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

In the season of thanks, here are mine
Katie Gabriel, CPA
Get insight and news from MNCPA leadership about the organization and professional issues.

Minnesota’s pass-through entity tax credit
Ed Zollars, CPA, Kaplan Financial Education
It’s time to determine whether eligible partnerships and S Corporations will elect to pay the state’s PTE tax for 2021.

Ready to be a healthier human?
Sarah Elliott, CPA, PCC, Intend2Lead LLC
Prioritize yourself so you can unleash your leadership potential.

ASC 842, GASB 87 implementation are here
Jason Parker, CPA, LeaseQuery
With the many new processes, controls and accounts needed to ensure proper oversight of lease accounting, entities should wait no longer to begin the adoption process.

A look at last year’s peer review
Sara DeRoo, CPA, Christianson PLLP
Firms that perform attestation engagements are required to undergo a peer review every three years.

Nuts and bolts of cryptocurrency taxation
Shehan Chandrasekera, CPA
The inclusion of the virtual currency question on the front and center of Form 1040 have made cryptocurrency a subject that tax practitioners cannot afford to ignore anymore.

Firm permit renewal is a very big deal
Anne Janotta Erickson, MNCPA membership marketing team leader
Without a permit, a firm cannot operate or advertise as a CPA firm, nor perform compilations, audits or other attest services.

Student membership by the numbers
Take a look at this infographic to see how our relaunched student membership is doing.