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Footnote Magazine

April/May 2024

Get to know the new board chair, Boz Bostrom, professor of accounting and finance at the College of Saint Benedict and Saint John's University in the April/May issue! Also in this issue:

• Learn about the U.S. Department of Labor's final rule on classifying employees.
• Empowering and supporting leaders within your organization.
• Read how Minnesota firms are trying to attract more students to the profession.
• Keep up to date with the complex legal and tax landscape of the cannabis industry.
• See what songs keep members going during busy season.
• Hear how members were involved during CPA Day at the Capitol.

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

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

Wanted: Words of encouragement
Boz Bostrom
Get insight and news from MNCPA leadership about the organization and professional issues.

Boz Bostrom
We sat down with the new chair, Boz Bostrom, to talk about his career, his life and what he is looking forward to in his role as board chair.

U.S. Department of Labor issues final rule on independent contractor classifications
Larry Morgan, MAIR, SPHR, SHRM-SCP, GPHR
Employers should be aware of a recent change, effective March 11, in determining who is considered an employee versus who qualifies as an independent contractor.

Sowing seeds
Corey Butler, MNCPA communications manager
See how a Minnesota firm is using internships to address the pipeline.

How to keep your best leaders
Jon Lokhorst, CSP, CPA, PCC
Turnover rates are still high in comparison to prepandemic levels. Attracting and retaining top talent continues to be a major concern in most industries, with no end in sight.

Comprehensive guide to tax implications and entity structures in the cannabis industry
Calvin P. Shannon CPA, CVA
With a unique legal and financial landscape, the cannabis industry demands careful consideration of entity structure and tax implications.

The relationship between Section 471(c) and Section 280E in the cannabis industry
Calvin P. Shannon CPA, CVA
The rapidly evolving cannabis industry in the United States grapples with the intricate dynamics between Section 471(c) and Section 280E of the federal tax code.

The songs of tax season
Each year, the MNCPA sends out the annual Tax Survey to members to get a sense of what topics are impacting both members and their clients. This year, we added a fun question to the mix!

A thoughtful approach to local taxes
Paul Marquart
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.

The MNCPA goes to St. Paul
For the first time in five years, the MNCPA was able to celebrate CPA Day at the Capitol — at the Capitol!

Preparing for CPE compliance
Julia Shiota, MNCPA communications coordinator
Learn about important news from the Minnesota Board of Accountancy. Monthly topics include rules, CPE requirements, CPA exam information, licensing, and more.