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MNCPA Perspectives Archive

Entrepreneurs and CPAs are kickstarting the economy
September 17, 2018  |  By Linda Wedul
What do Cards Against Humanity, Oculus Rift, 11 nominated movies and Neil Armstrong's space suit all have in common? Kickstarter! They all were funded via Kickstarter projects. Read more
Better (12 years) late than never
September 4, 2018  |  By Faye Hayhurst, CPA
This just in: Effective Oct. 1, 2018, peer reviewers will be applying new guidance approved by the AICPA Peer Review Board in August. The new guidance affects how peer reviewers will look at a firm’s compliance with audit risk assessment standards in AU-C 315 and 330. Read more
The primary is over, but there’s still work to be done
August 27, 2018  |  By Geno Fragnito
Where has the summer gone? It seems like just yesterday I was planning my summer vacation and wondering if Mother Nature would cooperate with my plans. Read more
Year-end tax planning -- more important than ever before
November 6, 2018  |  By Carolyn LaViolette
The weather is turning colder in Minnesota, which means 2018 is coming to an end. But, before you break out the eggnog and look up the lyrics to... Read more
Sharpening the blade
October 18, 2018  |  By Faye Hayhurst, CPA
If you’ve ever had to cut up various ingredients to prepare a meal, or perhaps had to gut and clean a just-caught fish, you know the importance of... Read more
Better late than never, part 2: There's help!
November 29, 2018  |  By Faye Hayhurst, CPA
My Sept. 4 blog, "Better (12 years) late than never," discussed the new way peer reviewers are evaluating a firm's compliance with audit risk... Read more
Systemic controls or systemic cause?
November 20, 2018  |  By Faye Hayhurst, CPA
We use buzzwords as a shortcut to refer to broad concepts in business. Buzzwords can be relatively straightforward and well-accepted (“return on... Read more
Shining the spotlight on the CPA profession
November 5, 2018  |  By Carolyn LaViolette
The curtain goes up. The overture plays the songs that have become oh-so familiar to me. I stand in the wings, anticipating my entrance on stage.... Read more
Why timing matters (and how to get it right)
October 22, 2018  |  By Kinzie Jensen
You've heard about time management and performance management, but few people consider how timing affects their performance. That's what Dan Pink... Read more
Membership: A transition resource that's just right
October 5, 2018  |  By Linda Wedul
Transition is where excitement happens and risk peaks. Whether it’s in business, sports or personal milestones, a transition is a tricky thing to... Read more
Don't believe everything you see
October 1, 2018  |  By Geno Fragnito
I have some good news and some bad news about the upcoming elections. I’ll start with the good news. The Aug. 14 primary election has passed and... Read more
Tax conformity changes are a team effort
October 31, 2018  |  By Geno Fragnito
If you have been watching the news the past two weeks, you have no doubt seen stories about overcoming long odds (1 in 302,575,350, to be exact) to... Read more
Buyer beware: Not all CPE is equal
September 20, 2018  |  By Lynn Kletscher
My phone rings; I answer. The caller wants to know how to qualify his company’s programs for CPE. I recite my spiel about the NASBA Registry... Read more
The enemy is comfort
August 8, 2018  |  By Linda Wedul
Picture these scenarios: Allowing a hairy tarantula to crawl up your arm. Singing in front of a crowd. Eating insects. Posing for an art class in... Read more
New legislators, new opportunities
December 6, 2018  |  By Geno Fragnito
Holiday planning, year-end business planning, tax planning packets for clients -- so many things to do as 2018 draws to a close. Have you made your... Read more
What remote sellers should consider in the wake of Wayfair
August 6, 2018  |  By Carolyn LaViolette
The commerce landscape has seen significant changes in the last 15 years. What used to be a “quick trip to the store” has evolved to... Read more
Revenue recognition and leases: Angles you might have missed
August 1, 2018  |  By Faye Hayhurst, CPA
After years of articles, news releases, CPE classes, and yes, posts by innumerable bloggers, I’d venture to say that it’s a rare CPA who hasn’t... Read more
Small business, big return
July 25, 2018  |  By Stephanie Schmidt
I was reminded recently of the rainbow loom bracelet fad. Anyone who has children, nieces or nephews probably remembers this trend from a few years... Read more
Summer, summer, summer -- it's like a merry-go-round
July 23, 2018  |  By
Do you recognize those words from someplace? A song from the 80s? There were many great bands -- and many more great songs -- to listen to in the... Read more
The membership benefits you may not see
July 19, 2018  |  By Linda Wedul
When joining a professional association, particularly one with voluntary membership, there should be clear benefits you receive in return for... Read more
Small-business owners: Receive free advice at Small Business Advisory Day
July 16, 2018  |  By Corey Butler
Sure, a free lunch isn’t a guarantee, but we can provide some free advice -- truly. As a small-business owner, you’re used to juggling a lot of... Read more
You can never be reminded enough: Renew your CPA certificate
December 13, 2018  |  By Stephanie Schmidt
A little more than a month ago, my birthday came and went -- along with my valid driver’s license. I had gotten the postcard in the mail... Read more
Understand your W-2 this tax season: The Tax Cuts and Jobs Act has changed this longtime form
January 21, 2019  |  By Corey Butler
With the Tax Cuts and Jobs Act of 2017 (TCJA), the current filing year is a challenge for taxpayers and certified public accountants... Read more
Successful CPA Day at the Capitol attributed to dedicated MNCPA members
February 13, 2019  |  By Geno Fragnito
Every year, the MNCPA hosts CPA Day at the Capitol to connect our members with their state senator and representative. This year, more than 70 members... Read more
Who doesn't want a big refund? You may be surprised
February 21, 2019  |  By Corey Butler
It's common for workers to set their withholding when they start a job and never revisit it. For many, this may have... Read more
Keeping up with the pace of change
February 22, 2019  |  By Linda Wedul
In Justin Trudeau's 2018 Davos address, he said the now-famous line, "The pace of change has never been this fast, yet it will never be this slow again." Read more
Report compliance burdens and unfair penalties to legislators this tax season
March 21, 2019  |  By Geno Fragnito
Maybe you are responsible for preparing or filing your business taxes. Maybe you work at a public accounting firm and help multiple clients navigate the tax law maze... Read more
To extend or not extend: That is the question
March 26, 2019  |  By Stephanie Schmidt
Extension: a four-letter word? To some, including CPAs, it may be. However, it may be a necessary evil in order to help make sense of the new tax laws. Read more
Audit risk assessment continues to be misunderstood for several firms
April 2, 2019  |  By Faye Hayhurst, CPA
Effective Oct. 1, 2018, peer reviewers began applying new guidance approved in August by the AICPA Peer Review Board. This new guidance took aim at an area that has been misunderstood... Read more
Tales from the CPE crypt
April 8, 2019  |  By Kinzie Jensen
I walked into the conference room on a bright February morning, excited to learn some new writing tips from my favorite marketing podcaster. Choosing a seat, I introduced myself... Read more
Share your tax season experience with lawmakers
April 29, 2019  |  By Geno Fragnito
Now that another tax filing deadline has passed, it's time to reflect on how this tax season went and start planning for next year... Read more
Meet the 2019-20 MNCPA board officers
May 2, 2019  |  By Linda Wedul
It's April 2019 and the MNCPA is celebrating. Not only has the big tax deadline passed, but it's also time for us to welcome our new board chair and officers... Read more
Why I love the MNCPA audit
May 22, 2019  |  By Faye Hayhurst, CPA
You might notice a spring in my step and a sparkle in my eye. There’s excitement and anticipation in the air (at least in my corner of the office)... Read more
Golfing is more than a game
May 30, 2019  |  By Geno Fragnito
You’re likely involved in many organizations: an alumni association, a charitable foundation, a community organization and/or a professional association, just to name a few... Read more
Property tax refunds are available to (and forgotten by) Minnesotans
June 4, 2019  |  By Corey Butler
Most everyone can agree on this: Taxes are confusing. They’re multifaceted, multilayered and can recur at different times of the year... Read more
Independence: Don't lose it!
July 1, 2019  |  By Faye Hayhurst, CPA
CPAs, too, have worked hard in the area of independence. Their reputation as professionals trustworthy of reporting on financial statements relies significantly on independence... Read more
Small-business owners: Receive free advice at Small Business Advisory Day
July 16, 2019  |  By Corey Butler
We're all familiar with this old saying: Good things come in threes. Not wanting to break from tradition, the Minnesota Society of CPAs (MNCPA) presents the third annual... Read more
529 funds can be used for K-12 tuition, but Minnesotans should approach with caution
July 22, 2019  |  By Carolyn LaViolette
Back-to-school shopping season is upon us, which means kids will be returning to school before we know it. For some, this can be a financially stressful time... Read more
Your expertise will help provide clarity on Minnesota's 2019 tax law changes
August 5, 2019  |  By Geno Fragnito
Let's crunch the numbers: It's been about two months since Gov. Walz signed the 2019 tax bill, HF 5, into law. The new tax law affects three tax years... Read more
Discovering unexpected gifts in candid conversations
August 9, 2019  |  By Linda Wedul
One of the most rewarding parts of my job is attending MNCPA events and meeting new people. I greatly enjoy having conversations with members... Read more
Wayfair: Challenges, strategies, opportunities
August 14, 2019  |  By Faye Hayhurst, CPA
It’s hard to overstate the impact of the U.S. Supreme Court’s decision in South Dakota v. Wayfair, Inc. (June 21, 2018), which allows states to require a remote seller... Read more
Use technology to your advantage, but don’t lose sight of the fundamentals
September 10, 2019  |  By Geno Fragnito
Nearly every professional industry is witnessing a technological revolution. The CPA profession alone has seen its share of new software and automation options... Read more
Candid reflections: An overview of our women's event
September 24, 2019  |  By Linda Wedul
The range of experience at Candid Conversations With Women was incredibly deep: from firm partners nearing retirement to a new graduate just beginning to sit for the exam... Read more
Calculated risk
October 1, 2019  |  By Faye Hayhurst, CPA
Who do business people call when they need help with calculating just about anything? Their CPA, of course! But when it comes to evaluating where their own risks lie, do CPAs fully... Read more
Finding qualified staff: A new approach
October 31, 2019  |  By Linda Wedul
Are we looking for the unicorn employee and then disappointed when one can’t be found? To help address the staffing challenge, each business should... Read more
Giving to the max has its tax benefits on Minnesota returns
November 8, 2019  |  By Carolyn LaViolette
Minnesotans give generously to local charities every year. Charitable donations bring... Read more