L Sessions

Tuesday, November 14,
3:45 p.m. - 5 p.m.

L1. MN Income Tax Update

Speaker(s): Dan Kidney
NASBA field of study: Taxes - Technical (1.5)

There is a lot going on with Minnesota taxes. Not only did the state enact major legislation in May -- addressing corporate, personal and pass-through income taxes; adopting a retail delivery fee; and imposing a new payroll tax supporting a paid family and medical leave program -- but taxpayers are still dealing with the retroactive federal tax conformity bill enacted in January. As if that wasn’t enough, recent Minnesota court opinions and revenue notices have everyone on the edge of their seats. Minnesota tax law has evolved significantly throughout 2023, and you cannot effectively advise your clients without having a solid understanding of the changes. Look at important Minnesota tax developments, court decisions and tax planning considerations, as well as highlights from the near-final 2023 Minnesota tax forms and instructions.

L2. Selling a Business: A Practical Guide to CPAs as Advisers to Business Owners

Speaker(s): Chris Jones
NASBA field of study: Specialized Knowledge - Technical (1.5)

You are in a unique position to be the trusted long-term strategic adviser to your business owner clients. Every business owner eventually transitions out of their business; help your clients navigate this challenging, yet highly important, transaction and life event. From a sell-side perspective, examine topics to consider as you advise your clients’ sale processes. Gain an understanding of the inputs that influence an owner’s decision as to when to sell their business. Get insights on the variables that impact whether the business is ready to be sold. Explore the metrics used to value businesses in the M&A marketplace. Know different buyer types and how to differentiate quality. Review the sale transaction process, from establishing a sale price to marketing the business, receiving offers and buyer’s due diligence.

L3. Artificial Intelligence for Accounting and Financial Professionals

Speaker(s): Stephen Yoss
NASBA field of study: Specialized Knowledge - Technical (1.5)

Artificial Intelligence (AI) is becoming more commonplace in our world, and harnessing its power can help you become more effective and efficient. Review several new AI-driven tools for bookkeeping, accounts payable, reconciliation, expense reporting, scheduling, business processes and more. Identify areas where AI tools can seamlessly integrate with the technology you already use to cut down on some of the tasks that take you the longest. See how AI can increase security, reduce clerical errors and streamline your workflow. Identify the areas that you can use AI to save time and increase your efficiency.

L4. Young Professionals Career Development: Be the CEO of Your Career

Speaker(s): Jonathan Lokhorst, Linda Wedul
NASBA field of study: Personal Development - Non-Technical (1.5)

Discover the value of the CPA designation and the significant opportunities to leverage it for career success and fulfillment. Examine how serving as the CEO of your career will equip you to create a professional vision that leads to unmatched success and fulfillment as a CPA. Explore opportunities to build business development skills, while working with different generations, to grow your portfolio. Expand your understanding of the value of the CPA designation and new developments in the CPA exam. This session is part of the TAX23 Young Professionals Track.