Frank E. Nute CPA, LLC

Frank E. Nute CPA, LLC is a Minneapolis CPA firm serving both the business and legal communities. Our practice has been in existence for 7 years. We consult with clients and their attorneys on financial issues of divorce and hidden assets.  

It is our goal to provide you, our client, with quality services in a timely manner and to be innovative problem solvers. Our blend of personal service and expertise enables us to offer a broad range of services for business owners and individuals.

About Frank Nute, CPA, CDFA™

Frank Nute obtained his CPA certificate in 1988 from the State of California and was certified in Minnesota in 2002. Frank has held positions in public accounting and private industry as an auditor and tax preparer. Some of the industries Frank has worked with include banking, health care, manufacturing, retail, transportation, real estate, construction, hi-tech, and fitness.

In 1990, Frank was designated a Certified Fraud Examiner. Frank has worked on a number of fraud cases involving the misappropriation of assets including larceny (sales process returns), fraudulent disbursements (fictitious vendors, contract and construction fraud, and purchasing fraud) and payroll fraud. Frank has also worked with several local Fortune 500 companies evaluating controls over financial reporting as part of their SOX compliance reporting.

While preparing tax returns for divorced clients, Frank noticed many of his clients experienced a decline in their net worth after their divorce and many more struggled with the tax consequences of divorce. Seeking to understand how the decline in net worth could be avoided and how he could assist clients on the front end of a divorce, Frank earned his certification as a Certified Divorce Financial Analyst. Frank examines and analyzes the short- and long-term financial implications and net tax effect of dividing property and paying or receiving spousal and/or child support. Frank also established a workshop in Minnesota for women entitled "Second Saturday, What Women Need to Know About Divorce" (see workshop heading below).

Prior to becoming a CPA, Frank worked in the insurance industry. Frank was a multi-line insurance adjuster for a large independent insurance adjusting company. He handled property, casualty, and workers compensation claims. As a claims adjuster, he not only investigated insurance claims, but also negotiated final settlements on behalf of the companies he represented.

Frank is a member of the American Institute of Certified Public Accountants and its Tax and Forensic Valuation Services sections. He is also a member of the Association of Certified Fraud Examiners, the Minnesota Society of CPA’s, and the Institute for Divorce Financial Analysts.  

Divorce Consulting

Through our divorce consulting services, we assist attorneys and their clients in identifying assets and income streams. We make sure you understand the short-term and long-term financial impact of different settlement options and produce powerful case exhibits in the form of spreadsheets and graphs. Services include:

• Identifying assets, liabilities, and family income
• Determining the nature and character of assets and liabilities (marital vs. separate property)
• Prepare pre- and post-divorce budgets
• Value assets and property, including
        o Privately owned businesses
        o Professional practices
        o Retirement assets
        o Stock options
• Determine spousal and child support
• Determine tax effect of divorce on your income taxes
• Prepare report for court or other proceeding
• Testify at trial, hearing, or other proceeding

Divorce Workshop

I have teamed up with an attorney, family counselor, and family law mediator to present an invaluable service for every woman facing the complexities of divorce. The workshop is designed to help women take the next step, at any stage in the process of untying the knot. The workshop is called SECOND SATURDAY.

SECOND SATURDAY deals with the legal, financial, family, and personal issues of divorce in a logical, yet compassionate way. With the guidance of trained professionals, workshop participants gain a greater understanding of the confusing divorce process.

SECOND SATURDAY is an excellent supplement to professional advice. You will learn what to expect and how to prepare for meetings with your attorney. Divorce professionals often charge upwards of $300 an hour for advice.

The workshop is held at 5775 Wayzata Boulevard, 8th floor, St. Louis Park, MN 55416. Workshop dates are 1-09-10, 2-13-10, 3-13-10, 4-10-10, 5-08-10, 6-12-10, 7-10-10, 8-14-10, 9-11-10, 10-09-10, 11-13-10 and 12-11-10. The workshop starts at 8:00 AM and ends at Noon. Pre-registration is required, please call 952-943-3977 and leave your name and email address, cost is $45; a discount of $5 is given for pre-registration.

We offer a free 1-hour consultation to all prospective clients.

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Frank Nute

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Location : Bloomington, MN

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