Pub. 3 2021 Issue 2

JOYCE I. SWANSON 1944-2021   A $100 donation has been made to The Foundation of the Nebraska Societyof Certified Public Accountants in memory of Joyce. Nebraska Certificate #0937Society Certificate #0623 EDWARD W. FITZGERALD1941-2021   A $100 donation has been made to The Foundation of the Nebraska Societyof Certified Public Accountants in memory of Ed. Nebraska […]

Julie Bauman of Julie D. Bauman, CPA, PC (JDB) in Falls City has been elected to the F&M Bank Board of Directors. JDB has 15 employees and is in its 19th year of business working for clients across the United States. Bauman earned her CPA license in May 1995, when she passed the exam on

Since the beginning of the coronavirus pandemic, Congress has passed several acts that fund COVID-19 federal awards. Among them are the Coronavirus Aid, Relief, and Economic Security Act (CARES Act); the Paycheck Protection Program and Health Care Enhancement Act; the Coronavirus Response and Relief Supplemental Appropriations Act, 2021 (CRRSAA); and the American Rescue Plan.

George Behringer received his Nebraska CPA certificate in 1980 and has been a member of the Nebraska Society of CPAs for 41 years. We recently had the opportunity to zoom with George and wanted to share his story with you.

My wealthy (and very conservative) client called after the election results were apparent and asked, “What is Biden going to do to me?” He didn’t want a wait-and-see answer. And he didn’t want me to say, “Go see your estate attorney.” He wanted my opinion, perhaps to weigh against the attorney’s opinion. I know that you are facing the same problem with your clients. Here’s an opinion piece for you.

Many employees are now at the one-year mark of working from home. As society returns to “normal,” employers should evaluate the potential tax consequences of permitting or requiring employees who live in other states to work from home. States are considering whether a return to “normal work” should also mean a return to “normal” nexus and other taxation rules.

As with all tax matters, state and local taxes and incentives offer the opportunity to choose to plan ahead or to choose to not plan ahead. Planning ahead usually results in the better outcome.

Below are several of the planning opportunities that state and local tax professionals are addressing during the life of a business or individual, and which we are seeing in audits and appeals, when not properly addressed early on.

COVID 19-Pandemic. It seems unreal but we reached the one-year anniversary of the outbreak of the COVID-19 pandemic. I am extremely proud of your State Board’s response to the pandemic including minimal disruption to operations. Although the Board cancelled meetings with the goal of protecting members, staff, and the public, we later were able to meet virtually after Governor Pete Ricketts issued executive orders allowing for the meetings. The State Board continues to hold virtual meetings, including in January and March of this year.

Spring is a time of change and new beginnings, and
that’s especially true at your Society.

In March, we released a brand-new website to greatly improve upon your member experience. Creation of the new Society site was completed in conjunction with Imarc, a full-service digital agency headquartered in Amesbury, Mass. Imarc has two decades of experience working with State CPA Societies from across the country.