January 3, 2023

HONOR ROLL for the Foundation of the Nebraska Society of CPAs Thank You for Supporting Future CPAs! More than 200 Society members and organizations remembered the Society’s Foundation over the past year and a half by making nearly $43,000 in contributions that will support accounting students at 14 colleges and universities throughout Nebraska. Thank you […]

$99,000 Presented to 76 Nebraska College Students in 2022-2023 Since 1976, the Foundation of the Nebraska Society of CPAs has supported the future of the CPA profession in Nebraska by sponsoring scholarships for accounting students attending Nebraska colleges and universities. This year, the Society’s Foundation contributed $99,000 in scholarships to accounting students at 14 Nebraska

Selling an accounting practice is a once-in-a-lifetime experience for most practice owners. Due to the fact it is such a rare event, sellers need to be aware of some key misconceptions about the process. Misconception No. 1: The seller needs to stay around for years to assist the buyer in the transition. Despite what most

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2022 brought several significant Nebraska state and local tax developments that are likely to affect many of your clients. We’ve highlighted some key statutory changes and case developments you will want to know. Income Tax Social Security Income Exemption. In 2021, Nebraska passed a bill that would exempt a portion of the Social Security benefits

The purpose of an audit is to provide financial statement users with an opinion by the auditor on whether the financial statements are presented fairly, in all material respects, in accordance with an applicable financial reporting framework, which enhances the degree of confidence that intended users can place in the financial statements (AU-C 200.03). An

While the sale of a business can result in a healthy lump sum for successful founders and their shareholders, the sale often results in recognition of gain, which is subject to taxation. The potential tax liability on gain recognition is where Section 1202 steps in as a beneficial tax planning tool. Section 1202 allows eligible,

State Board Chairman Melissa Ruff, CPA, of Deloitte, State Board Secretary Christi Olsen, CPA, of Circle CPA, and State Board member Drew Blossom, CPA, of KMPG LLP recently joined State Board Administrator Kristen VanWinkle at the 114th Annual Meeting of the National Association of State Boards of Accountancy (NASBA) in San Diego, Oct. 30 through

It was a busy year for labor and employment lawmakers. The U.S. Department of Labor (DOL) continues to roll back regulations, such as the independent contractor rule, implemented by the prior administration. The DOL promised to revisit the Fair Labor Standards Act (FLSA) regulations as well, announcing a Notice of Proposed Rulemaking (NPRM) in its

Recruiting and retaining top talent remains a priority as 2022 draws to an end and the new year begins. Since 1976, the Foundation of the Nebraska Society of CPAs has been committed to helping Nebraska college and university accounting students become future Nebraska CPAs. For the 2022-2023 school year, the Foundation Board of Trustees approved