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Since 1967, Shidell Mair & Richardson PLLP has been helping clients in Minnesota and surrounding states grow their businesses;

growing with our clients for more than 25 years.

Audit & Accounting


We provide timely and cost effective audited or reviewed financial statements for our clients who are privately held companies or partnerships.


Chances are our partners and managers already have direct experience in your industry, or one closely related. We take the time to get to know you and your business, which enables us to provide additional value through insightful suggestions for improvements to your operating and internal control systems.

We provide further value by keeping in touch throughout the year to assist you with the business of running your business. Our audits are more than a necessary evil. Our firm is reviewed every three years by an independent outside accounting firm to ensure the highest standards are maintained.


We are pros when it comes to debits and credits. Your specialty is running your company and our specialty is the detailed financial life of your company. We maintain an accurate general ledger of transactions. Compiling financial statements monthly, quarterly, or annually, as needed, as well as payroll tax compliance and reporting.

We also provide accounting software consulting: both initial selection and ongoing troubleshooting. Think of our staff as your company controller that doesn't take coffee breaks.




We use our expertise and planning techniques to reduce your taxes and aid in achieving your financial goals. We help you meet all of your various tax reporting requirements.

  • Planning favorable tax consequences for major financial transactions

  • Developing positive solutions to financial and personal issues from a tax perspective

  • Preparation of Federal and State income tax returns for individuals, businesses, partnerships, trusts and estates

  • Resolving issues with the Federal and State taxing authorities




As tax and financial planning professionals, we have spent years helping our clients with the preparation and planning of their income taxes. Our clients have often asked for advice on other financial matters such as investments, retirement planning and educational funding.

In response to this request, Shidell Mair & Richardson PLLP has expanded our financial planning services to include investment advisory services. Our clients are seeking advice from qualified advisors who understand their specific financial and tax situation and want recommendations that are objective and in their best interest.

The process we utilize for assisting our clients in the investment advisory area include:

  • Planning - We assist in determining the investment objectives and the tolerance for risk that specifically apply to each of our clients. 

  • Portfolio Design - Based on the results of the evaluation process, a portfolio is designed to meet the specific needs of the client. The portfolio is typically constructed using mutual funds and ETFs.

  • Monitoring - We continually evaluate the performance of the recommended investments for our clients to be able to advise them as to potential changes for the future.

To facilitate the expansion of our financial planning services, we formed a separate corporation: Shidell Wealth Management, Inc.

Mike Shidell, managing partner with our firm, is a registered representative of 1st Global Capital Corp. 1st Global Capital Corp. is a broker/dealer firm focused on providing support to CPAs practicing in the financial services area.

This support included training, technology, compliance and back office support. Since these services were first offered in 1997, the response from our clients has been tremendous. Our investment clients include individuals, corporations, partnerships and retirement plans.


Michael J. Shidell, CPA - Managing partner in Shidell Mair & Richardson PLLP and a registered representative of 1st Global Capital Corp. Securities are offered through 1st Global Capital Corp., Member FINRA/SIPC. Mike Shidell is licensed to offer securities in the states of IA, IL, MN, MO, SD, VA and WI. This is not an offer to sell securities in any other state or jurisdiction. Investment advisory services offered through 1st Global Advisors, Inc.


Mike Shidell is compensated on a commission or management fee basis through 1st Global Capital Corp. Follow-up meetings or subsequent consultations are free and without obligation.

If you have any questions regarding these services or would like a prospectus that includes more complete information including charges and expenses on individual funds, please contact Mike Shidell at 651-482-1698 or


Securities are offered through 1st Global Capital Corp., Member FINRA/SIPC. Mike Shidell is licensed to offer securities in the states of IA, IL, MN, MO, SD, VA and WI. This is not an offer to sell securities in any other state or jurisdiction. Investment advisory services offered through 1st Global Advisors, Inc.


Financial Planning


Personal financial planning involves establishing lifestyle and financial goals, then designing strategies to achieve them. Shidell Mair & Richardson PLLP assists you in making your goals become a reality.


A personal financial review can focus on any or all of the following areas:

  • Cash Management & Budgeting. A strong cash flow is an essential ingredient in any personal financial plan. We work with clients to assure adequate cash flow to fund day-to-day expenses, accumulate cash necessary for emergencies and provide a source of future investment capital. We work with each client to develop short-term and long-term budgets and cash flow projections to help meet this objective.

  • Investment Planning. We assist clients in identifying their investment objective utilizing the level of risk and return that they want to achieve on a long-term basis. The investment policy helps determine the investment holdings including mutual funds, stocks, bonds, money markets, real estate, etc., which are parts of the client's long range strategic planning.

  • Education Planning. We work closely with clients with college bound family members, to assist them in setting goals and plans to accumulate capital for education, defining strategies for asset allocation and determining the adequacy of projected asset accumulation against projected future education costs.

  • Retirement Planning. Nearly everyone seeks financial independence in their retirement years, but for many reasons this goal is becoming harder to achieve. We will work with you in allocating assets earmarked for retirement and those in taxable accounts. A properly designed and implemented plan should have long-term financial security in mind. 

  • Gift Planning. We have experience in assisting clients with the transfer of small businesses, formation of trusts and other gift giving programs, which can result in the redistribution of family wealth and a reduction of estate taxes.


Securities are offered through 1st Global Capital Corp., Member FINRA/SIPC. Mike Shidell is licensed to offer securities in the states of IA, IL, MN, MO, SD, VA, and WI. This is not an offer to sell securities in any other state or jurisdiction. Investment advisory services offered through 1st Global Advisors, Inc.


Lawful Gambling


No other accounting firm in Minnesota offers you more expertise in accounting, auditing and management for lawful gambling … expertise that can ensure the prosperity of your fundraising efforts.

We have been in it from the beginning. As advisors to the Minnesota State Gambling Control Board, State legislative committees and Department of Revenue, we know the rules inside and out.


Since our involvement on day one, we've completed over 30 audits per year. We even helped draft the audit standards, so we know exactly what you need to do, and when, in order to comply with all regulations. At Shidell Mair & Richardson PLLP, we even teach auditing to other accountants.


Our experience will help reduce the time you spend on the auditing process. We know the business and never take up your time with unnecessary questions. The working relationship we've established with both the Department of Revenue and the Gambling Control Board also helps us be more effective for you.


We offer you better control of both your games and financial situation.

We utilize specialized software for preparing B schedules, give you computerized inventory control and provide analysis of closed games. Our accurate monthly accounting and reporting services, along with independent professional analysis each month, help give you time to manage.


We accurately prepare your monthly gambling tax returns from our general ledger program, which is integrated with our patented game control system. Your profit carry-over is always in balance when you use Shidell Mair & Richardson PLLP for your monthly accounting.


We know what is happening in the industry and have the data to prove it… data, which can help you select the best pull-tab games to play. Here is the type of information we can make work for you:


Closed game report - analysis that allows you to compare the profitability of available pull-tab games.
Current hot games - list of pull-tab games actually played in the last two months, which made the highest profit per game.
Pull-tab profitability report - provides information to assist you in buying the best games.


Making a profit for your cause is what it's all about. Maximizing that profit is what we're all about. Find out exactly how we can do it for you by calling 651-482-1698.



At Shidell Mair & Richardson PLLP, we are one member of your advisory team that views the entire scope of your business and offers you totally objective recommendations. Our partners work closely with your attorney, banker, insurance agent and other business advisors to assure the growth and success of your organization.

Our Advisory services include:

  • Financial forecasts and projections

  • Budget preparation and variance analysis

  • Business valuations

  • Computer needs, analysis and software selection

  • Implementation of computer hardware and software

  • Litigation support



At Shidell Mair & Richardson PLLP, we've been helping not-for-profit organizations like yours save more of their revenue for its intended purpose. For over 30 years, we've been working with voluntary health and welfare organizations, plus a wide variety of civic and community groups.

  • Educational

  • Athletic

  • Fraternal

  • Cultural

  • Performing arts

  • Professional associations

  • Social and country clubs

  • Trade associations

  • Political action committees

  • Service organizations and clubs


The key to maximizing your resources is our knowledge and skill in regard to functional expense allocation. Because we know the law inside and out, and stay on top of each new development, no one can do more for you than Shidell Mair & Richardson PLLP in this critical area. We can also ensure that you stay in compliance with state and federal regulations, as well as meet your fiduciary responsibilities.

Other consulting specialties include:

  • Joint cost accounting

  • Governance

  • Internal accounting controls

  • Contribution policies

  • Planned giving structure and accounting systems

  • Tax issues including exempt status and unrelated business income

Of course, we offer efficient and effective accounting services specific to your not-for-profit operations:

  • Audits including, if applicable, lawful gambling operations

  • Compilations and Reviews - monthly, quarterly and annually

  • Preparation of annual tax returns, including Federal Forms 990 and 990T and state filings with the Attorney General, Secretary of State and Department of Revenue

  • Consulting regarding the unique tax issues facing not-for-profit organizations

  • Application for tax-exempt status

  • Representation before the IRS and other regulatory agencies


Each year, the Shidell Mair & Richardson PLLP partners and staff devote a significant portion of continuing education agenda to attending courses on not-for-profit subjects. And, at least once a year, we conduct an in-house, not-for-profit seminar. Our partners and staff also teach not-for-profit courses, seminars and conferences, and, because of our specialized knowledge of the subject, have participated in studies and focus groups dealing with the concerns of the not-for-profit community.

In addition, our partners and staff are actively involved in the Minnesota Society of CPA committees dealing with not-for-profit organizations, and maintain ongoing relationships with a number of organizations involved in the industry.

These include Charities Review Council, University of St. Thomas Center for Nonprofit Management, Minnesota Lawful Gambling Control Board, Attorney General's Office, Minnesota Department of Revenue and the Internal Revenue Service.




Bookkeeping services will be available from Shidell Mair & Richardson PLLP beginning January 2016.


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