March 7, 2023

The key to the successful operation of an accounting or tax practice is client retention. While that is true after the purchase of a practice, it is in fact true for any practice. All firm owners must be able to retain clients to survive and thrive. In the day-to-day operation of a practice, there is no guarantee that […]

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We have been asked by CPAs in private practice if they can prepare protests to Notices of Proposed Deficiency Determinations issued by the Nebraska Department of Revenue and represent taxpayers in those protests regarding income taxes, sales taxes, and tax incentives. This article details our answer to those inquiring CPAs and taxpayers, and explains why

Countless retirement provisions will take effect in the coming years because of the act. Here are the ones to take note of during your 2023 planning. Three years after the Setting Every Community Up for Retirement Enhancement (SECURE) Act was enacted, SECURE Act 2.0 is now law, with the goal of “securing” American workers’ retirement

One of the more intriguing provisions of the Consolidated Appropriations Act (which was signed into law by President Biden on Dec. 29, 2022) is one that allows, for the first time,1 Qualified Charitable Distribution (QCD) treatment2 for IRA distributions that are made to certain split-interest trusts. Beginning in 2023, as a result of that provision,

An attorney may need an accountant’s help to understand certain financial or tax problems that impact legal advice to a client. However, clients should be cautious when they seek the opinions of outside accounting experts if they hope to preserve the attorney-client privilege. Federal common law does not recognize an accountant-client privilege that protects communications

Throughout the life cycle of farm and ranch operations, it is important to examine the business structures and tools used to meet owner objectives. When owners of closely held farms and ranches objectives adjust, their role in the operations may shift to other family members or to outside individuals taking over the day-to-day operation. This

The Nebraska Board of Public Accountancy, at its Sept. 9, 2022, meeting, approved a recommendation from its Executive Committee that permit and registration fees be returned to 2014 levels. The Executive Committee’s recommendation to return fees to 2014 levels, and the State Board’s subsequent approval, was based on information provided by staff, including projections regarding

The Nebraska Society of CPAs plays a vital role in advocacy—it’s one of the most important things we do. We spend a great deal of time getting to know legislators, building connections with the Nebraska Department of Revenue, cultivating our relationship with the team at the Nebraska Board of Public Accountancy, and engaging with leaders