OFFICIAL PUBLICATION OF THE NEBRASKA SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS

May 17, 2024

5 by 4 Collage of square images of peoples faces. Faces are of old and young people of multiple races and ethnicities.

Welcome New Society Members

Membership in the Nebraska Society of CPAs signifies your commitment to the accounting profession and the belief that much can be accomplished by working together. Welcome to the premier organization for CPAs and accounting professionals in Nebraska. CPA Membership Amy Barth, Contryman Associates PC, Kearney Lindsay Beller, Eide Bailly LLP, Elkhorn Joseph Bindl, Lutz, Omaha […]

Welcome New Society Members Read More »

The Burden of Proof

Establishing Nonmarital Character of Assets in Nebraska

In an opinion¹ released in late April, the Nebraska Court of Appeals reviewed the burden of proof2 necessary to establish whether assets are nonmarital for Nebraska marital dissolution purposes. The court held that the “greater weight” burden applies generally but that a higher “clear, unequivocal, and convincing” burden applies when the asset in question is

The Burden of Proof

Establishing Nonmarital Character of Assets in Nebraska

Read More »

What Questions Will You Be Asked When Selling a CPA Firm?

Sellers will be asked different questions at different points in the process of selling a CPA firm. Brokers have questions, banks have questions, landlords have questions, and of course, buyers have questions. Buyer’s questions are more general at the beginning of the process and become more specific as they start due diligence. Most questions are

What Questions Will You Be Asked When Selling a CPA Firm? Read More »

Counselor’s Corner – Best Practices

Structuring Buy-Sell Agreements for Farmers, Ranchers & Other Business Owners Post Connelly v. United States

In Connelly v. United States,1 the Eighth Circuit Court of Appeals (which includes Nebraska) ruled that life insurance proceeds received from company-owned life insurance (COLI) following the death of a shareholder must be considered a corporate asset in valuing the shares of the corporation’s stock held by the estate of the deceased shareholder. The ruling

Counselor’s Corner – Best Practices

Structuring Buy-Sell Agreements for Farmers, Ranchers & Other Business Owners Post Connelly v. United States

Read More »

Strategic Corporate Structures

When Do Nebraska Courts Pierce the Corporate Veil?

Generally, a corporation is viewed as a complete and separate entity from its shareholders, who are not liable for the debts and obligations of the corporation.1 A court will disregard the corporate identity and “pierce the corporate veil” only when the corporation has been used to commit fraud, violate a legal duty, or perpetrate a

Strategic Corporate Structures

When Do Nebraska Courts Pierce the Corporate Veil?

Read More »

Review Tax Returns to Help Clients Level Up Their Charitable Giving Plans

As you prepare and review your clients’ tax returns, take the opportunity to talk with them about their charitable giving and whether their donations were made with cash or other assets, steering the conversation toward discussing the most effective assets to give to charity. Here is a four-point checklist that can help you advise your

Review Tax Returns to Help Clients Level Up Their Charitable Giving Plans Read More »

State Tax Briefing – 2024 Nebraska Tax & Incentive Legislative Update

The Governor’s Plan May Be On Hold, But the Legislature Still Made Numerous Improvements

In our “Nebraska Business Expansion Decision Guide,” we identify the 22 state and local site selection features most commonly considered by companies when deciding where to locate or expand a business. These 22 features collectively establish the framework for a state’s business climate. While this year’s Nebraska legislative session was noteworthy for a number of

State Tax Briefing – 2024 Nebraska Tax & Incentive Legislative Update

The Governor’s Plan May Be On Hold, But the Legislature Still Made Numerous Improvements

Read More »