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Footnote Magazine

Footnote cover

September 2021

The September Footnote dives into the so-called "silver tsunami," discussing the next steps for baby boomer business owners who are nearing retirement. Other articles in this issue include:
  • Why would I need a single audit now?
  • A look at the new staff augmentation arrangement.
  • Considerations for the future of Minnesota resident trust law.

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

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

Get ahead of the ‘great resignation’
Katie Gabriel, CPA
Get insight and news from MNCPA leadership about the organization and professional issues.

Exit planning strategies for business owners
Sue Crockett
As baby boomers approach retirement age, the Minnesota business landscape faces the exit of a significant share of the workforce. But there is a beacon of light.

Why would I need a single audit now?
Elizabeth Barchenger, CPA
New federal dollars allocated to many nonprofits might bring additional oversight not previously expected.

The new staff augmentation arrangements
Charles Selcer, CPA, MBA
The PEEC has established a new ethics section to provide guidance on how services can be rendered and still maintain independence with regard to attest clients.

Minnesota resident trust law update
Paul Dinzeo, CPA, JD, CFP, MBT
The Fielding result may influence a broader and more fact- and circumstances-based test in determining whether a trust is subject to Minnesota tax.

A complex intersection of state and federal tax laws
Robert Doty, Minnesota Department of Revenue commissioner
The Minnesota Department of Revenue provides and update on its implementation and process of tax law changes.

CPA status options: Can I? Should I? How do I?
Anne Janotta Erickson, MNCPA membership marketing team leader
Whether you’re changing your CPA status from inactive to active or vice versa, the most important part is getting the answer right.