Economy
Articles
Tax issues you might have missed during year-end close [MNCPA]
The IRS officially kicked off the tax filing season Jan. 23, 2023, and issues continued to arise in the tax world. Here are some of the key issues you might have missed.
Legalized use of cannabis in Minnesota: What employers need to know
The increasing social acceptance and legalization of cannabis across multiple states the past decade has brought with it the need for employers to adjust to fit a new normal.
Maximizing your technology while minimizing your expenses [MNCPA]
Challenging business climates demand that we keep a sharp eye on expenses without sacrificing the quality of our services or the goods we produce.
5 ways CPAs can help their clients with bankruptcy
Recent economic challenges have caused a rise in bankruptcy cases. Besides lawyers, CPAs are also handling an increasing number of bankruptcy cases and have an important role in advising clients.
Business as unusual
Employers are faced with changing traditional ways of addressing employment issues and short-term solutions are not likely to help.
Building a tax system for all Minnesotans [MNCPA]
Minnesota Department of Revenue Commissioner Robert Doty writes about creating a tax system for all.
Let’s all do our part! [MNCPA]
Get insight and news from MNCPA leadership about the organization and professional issues.
The importance of employer branding [MNCPA]
A dive into what an employer brand is, how to build your employer branding strategy and how to promote it to attract high-quality candidates.
Add HRAs to your client’s tax planning toolkit
With a wage war in many sectors, what more can employers provide to tip the balance for staff retention?
Nuts and bolts of cryptocurrency taxation [MNCPA]
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.
Complexity and rapid rates of change — CPAs know both [MNCPA]
Who better than a CPA to serve as a subject-matter expert and influence decision-makers, while also building your sphere of influence and growing your professional network?
Creditworthiness verifications and PPP loans
CPA firms receiving requests from lenders for creditworthiness verifications for clients who had requested Paycheck Protection Program (PPP) loans were often unsure of how to respond.
Malpractice risks increase during difficult economic times
In light of the current economic challenges, CPAs will need to be prepared and vigilant to minimize the potential for additional liability exposures.
Should employers require a mandate to vaccinate?
President Joe Biden last week unveiled new vaccination requirements that are expected to have major repercussions for employers.
Minnesota resident trust law update [MNCPA]
The Fielding result may influence a broader and more fact- and circumstances-based test in determining whether a trust is subject to Minnesota tax.
Why would I need a single audit now? [MNCPA]
New federal dollars allocated to many nonprofits might bring additional oversight not previously expected.
An underused business succession tool: The WOC
A worker-owned cooperative is a business enterprise jointly owned and controlled by its workers under a participative governance model, with each member having one vote.
The 10 biggest myths (missed opportunities) with the Employee Retention Credit
Many CPAs are not fully understanding the nuances and complexities of this expanded law.
How to leverage referrals in this virtual world
Thankfully, there are options that exist to bring in new business from behind your desk.
As organizations move back to work, what does ‘the new normal’ look like? [MNCPA]
The pandemic required employers to rethink office and work arrangements. Employers are also were faced with demographic, economic, cultural and technological changes.
What is ESG? [MNCPA]
One acronym has quickly risen to the top of many C-suite and board agendas in the past year: ESG, or environmental, social and governance.
ESOPs: It’s not always about the money
There are also many ways in which an ESOP can meet the nonfinancial goals of a business owner.
The FAQs of an ESOP
An ESOP might be an appealing option for your business or for a client. Find out more.
We can never go back to before [MNCPA]
Now is the time to start thinking about a different normal in the workplace. The future of retaining — and recruiting — staff may depend on it.
American Rescue Plan and employee-related issues
On March 12, 2021, the American Rescue Plan Act (ARPA) of 2021 was signed into law creating a $1.9 trillion stimulus package to address continuing needs related to the COVID-19 pandemic.
Acknowledging the good in challenging times [MNCPA]
Get insight and news from MNCPA leadership about the organization and professional issues.
Upheaval and resilience: The path to accounting amid COVID-19 [MNCPA]
The COVID-19 pandemic will cast a long shadow on our world in ways that even the best futurists have failed to consider. We just don’t know what we don’t know.
A year of lessons, reflections; adapting in the time of COVID [MNCPA]
Get insight and news from MNCPA leadership about the organization and professional issues.
Challenge, change and partnership [MNCPA]
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.
Embracing the ‘silver’ [MNCPA]
Get insight and news from MNCPA leadership about the organization and professional issues.
Maintaining and enhancing client engagement now and in the future [MNCPA]
Thankfully, there are several actions you can take (that don’t require you to log into Zoom) to maintain a high level of client service from afar.
Business Perspective: Salo [MNCPA]
Crises are nothing new for career consultants. After all, organizations often bring in consultants when they have big, hairy, complicated problems to solve and little time to solve them.
The state of mergers and acquisitions [MNCPA]
With the M&A market finally slowing down at the end of 2019, the global pandemic and resulting market volatility appear to be accelerating the slowdown.
Dealing with return-to-work stress
As more workers transition back to the office, what can organizations do to plan for a safe, comfortable transition?
25 firm growth opportunities for 2020 and beyond
With the COVID-19 pandemic changing everything we do and how we do it, I thought it would be appropriate to share with you 25 growth ideas that are always timely no matter what the situation.
Chapter 11 bankruptcy became easier just in time for the COVID-19 fallout [MNCPA]
The Small Business Reorganization Act is a newly added subchapter of Chapter 11 bankruptcy that makes it feasible and beneficial for your small-business clients to benefit in new ways.
Facing COVID-19 challenges together [MNCPA]
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.
Keep your pipeline alive now so you can thrive later [MNCPA]
With much of the world in disarray and businesses feeling like they are in limbo because of COVID-19, it may seem like the wrong time to focus attention on business development at your firm. It's not.
Nothing is status quo during the COVID-19 pandemic, including how you communicate
Do a communications gut check. Take five minutes to audit yourself and reflect on whether you’ve communicated with the audiences most important to you lately and, if so, how
COVID-19 pandemic turns CPAs into emergency workers
Many people think that accountants are just rational unfeeling counting machines who operate completely on logic and reason.
Highlights of the CARES Act
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act, H.R. 748 (the Act)) was enacted into law on March 27, 2020. It contains many tax provisions that impacts your practice and life immediately as our nation and world combats the COVID-19 pandemic.
Adapting your firm in a time of a pandemic
Here are 10 actions your firm can take in the face of the COVID-19 pandemic.
Making teleworking work in a time of crisis
With the spread of COVID-19, which is the disease caused by the novel coronavirus, many employers who have not previously implemented telecommuting/work from home (WFH) arrangements, are being forced to offer WFH arrangements.
COVID-19 (coronavirus) guidance for employers
How should your office leaders prepare for and respond to a potential pandemic affecting the workplace?
Lessons learned: Networking, job transition during a pandemic [MNCPA]
Generally, it’s a challenging process to find a new job during the best of times. But now, amid a global pandemic? What an interesting, unique time to look for a new role.
MNCPA Perspectives blog posts
Employee and employer: Shaping the future of work
Let me share something that you’ve either heard or, more likely, have experienced: Today’s workers are not the same ones who went home in March 2020 at the start of the COVID-19 pandemic...
A field of opportunity: New conference takes root
If you cruise any Minnesota road long enough, I bet you pass at least one cornfield, turkey barn or herd of grazing cows. Why am I writing about farms? Because farms are businesses and businesses need CPAs...
Don't let a single audit take you by surprise
When various federal funds funneled to this nonprofit as a result of COVID-related legislation, the organization, for the first time, hit the $750,000 threshold to trigger a single audit...
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