OFFICIAL PUBLICATION OF THE NEBRASKA SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS

Pub 2 2020 Issue 4

dont-be-floored-money-floating

Don’t Be “Floored” By Purchase Accounting Struggles

No two merger and acquisition (M&A) deals are alike. Each is unique, opening the door to new challenges and uncharted territory for those tasked with determining the tax treatment of the transaction. One challenge that often gives practitioners headaches is how to handle assumed liabilities in an asset acquisition.

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CPA Insider: Tax News From The IRS

Keeping up with changes has been difficult, with the 2020 tax season lasting so (impossibly) long. And then, throughout the extra-long tax season, the Paycheck Protection Program (PPP) loans consumed our time and energy. With these urgent distractions, we didn’t have much time to keep up with news from the IRS. Here are a few items of interest for you and your clients.

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Inactive Retired Status: Is It For Me?

While preparing for a well-deserved retirement, many CPAs near the end of their career question what steps should be taken to keep their State Board-issued certificate in good standing. Inactive status is a great choice for retired CPAs and is outlined within regulations under Nebraska Administrative Code (NAC) Title 288 Chapter 7 listed below:

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President’s Message: Foundation Breaks Scholarship Funding Record Once Again

Since 1976, the Foundation of the Nebraska Society of CPAs has been continuously increasing its commitment to help Nebraska college and university accounting students become future Nebraska CPAs. At its recent meeting, the Foundation Board of Trustees approved a record total of $128,600 in scholarships to 72 accounting students at 14 Nebraska colleges and universities

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