Pub. 3 2021 Issue 4

The 2021 edition of a longtime Society publication, Nebraska School Districts Auditing & Reporting Reference Manual, is available through the Society for $40.

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 Kevin Anderson, Sehi & Associates, PC, Norfolk Brent Barnes, Awerkamp, Goodnight, Schwaller & Nelson, PC, Omaha

Bryce Betke has joined ruralMED Management Resources in Holdrege as chief financial officer. ruralMED Management Resources supports rural healthcare through collaboration focused on strategically tailored services, effective leadership, and industry specific expertise. Betke is an accomplished healthcare finance executive with more than 30 years of experience in various healthcare settings. Prior to joining the ruralMED

WHO SHOULD PARTICIPATE?
Both CPAs and high-potential non-CPA professionals who work under the direction of a CPA are encouraged to participate in the Leadership Academy.

Non-profit entities, like churches, often have difficulty finding real estate financing, particularly for energy savings projects. Commercial construction loans typically have a three- to five-year maturity period, making the repayment terms difficult when it comes to energy savings projects. PACE (an acronym for Property Assessed Clean Energy) changes all of this by allowing a non-profit to finance energy efficiency projects using loans with a longer term (as much as 25 years).

The IRS sent the first advance monthly payment of the Child Tax Credit to roughly 35 million U.S. families with 60 million children on July 15. The first batch of payments totaling $15 billion paid as much as $300 per child.

The Setting Every Community Up for Retirement Enhancement (SECURE) Act limited the availability of “stretch IRAs” to few potential beneficiaries.1 Now, most beneficiaries who inherit an individual retirement account (IRA)2 must withdraw the assets within 10 years.3 Notwithstanding, a faux stretch IRA can be achieved by contributing an IRA to a Charitable Remainder Trust (CRT).

In the first two articles in this series, we reviewed Nebraska tax-planning opportunities that state and local tax professionals are addressing during the life of a business or individual “before an audit” and “during an audit.”