OFFICIAL PUBLICATION OF THE NEBRASKA SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS

Pub. 5 2023 Issue 1

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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 Renee Einsel, RSM US LLP, OmahaBrandi Estrada, EHPV Management Group Inc., OmahaBrian Gorman, Melotz Group LLC,

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Plan Charitable Giving for the Greatest Impact

Know which type of asset donation will do the most good in the community and provide the biggest tax benefit. Now is a great time to work with your clients to plan their charitable giving for 2023, and there are several options beyond writing a check. Sometimes, utilizing other assets can have the dual advantages

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State Tax Briefing: How to Comply With Nebraska Supreme Court Rules on the Unauthorized Practice of Law in Your State Tax Practice

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

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Six SECURE ACT 2.0 Changes to Know in 2023

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

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The Use of Kovel Letters in Nebraska

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

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Counselor’s Corner: Optimizing Your Client’s Farm Lease

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

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State Board Resets Fees to 2014 Levels

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

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President’s Message: Advocacy Advances the Profession

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

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