Footnote Magazine

Footnote cover

October 2018

The effects of tax reform are still being figured out. Here, read about its impact on business travel, as well as UBIT provisions.

  • Learn about the two largest unknowns for UBIT provisions
  • Follow these cybersecurity tips to protect your clients, firm
  • Read how cryptocurrency is being regulated and how it affects the accounting world

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

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

Never stop learning: Every day can offer education
Rebecca Keran, CPA, MBA, CGMA
Get insight and news from MNCPA leadership about the organization and professional issues.

Travel expenses: By land, sea or air
Andrew Seifert, JD, tax consultant, Wipfli LLP
Understand how the Tax Cuts and Jobs Act affects business travel when it comes to tax-related expenses.

Exempt organizations' UBIT provisions under tax reform
Eve Borenstein, JD, BAM Law Office LLC
Two provisions altered the calculation of the not-for-profit sector's unique income tax -- the unrelated business income tax (UBIT) -- required by Internal Revenue Code (IRC or Code) section 511.

Altering the science of the Science Museum of Minnesota
Lois Depiesse, CPA (inactive)
For those who work for or with nonprofits, this is a tale that, while your exhibit may be in good shape today, there are always adjustments that can be made to increase its value for stakeholders.

Cybersecurity threats to your clients, firm
Daniel Moshe
CPAs can't be too vigilant when it comes to cybersecurity. The threats will always exist, but facing them head on is half the battle!

Business Perspective: West Bend Mutual Insurance Company
Before busy season kicks in, prepare your furnace for the toughest season.

How cryptocurrency is challenging CPAs, the government
Geno Fragnito, MNCPA director of government relations and Judith Herron, CPA, Markovitz Dugan & Associates
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.

Your end-of-year CPA to-do list
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.