25 18 C O N T E N T S 13 ©2024 Nebraska Society of Certified Public Accountants | The newsLINK Group LLC. All rights reserved. The Nebraska CPA is published six times each year by The newsLINK Group LLC for the Nebraska Society of Certified Public Accountants and is the official publication for this society. The information contained in this publication is intended to provide general information for review, consideration and education. The contents do not constitute legal advice and should not be relied on as such. If you need legal advice or assistance, it is strongly recommended that you contact an attorney as to your circumstances. The statements and opinions expressed in this publication are those of the individual authors and do not necessarily represent the views of the Nebraska Society of Certified Public Accountants, its board of directors, or the publisher. Likewise, the appearance of advertisements within this publication does not constitute an endorsement or recommendation of any product or service advertised. Nebraska CPA is a collective work and as such some articles are submitted by authors who are independent of the Nebraska Society of Certified Public Accountants. While the Nebraska CPA encourages a first-print policy, in cases where this is not possible, every effort has been made to comply with any known reprint guidelines or restrictions. Content may not be reproduced or reprinted without prior written permission. For further information, please contact the publisher at (855) 747-4003. ISSUE 5, 2024 EDITORIAL: The Nebraska Society of CPAs seeks to reflect news and relevant information to Nebraska and other news and information of direct interest to members of the Nebraska Society of CPAs. Statement of fact and opinion are made on the responsibility of the authors alone and do not represent the opinion or endorsement of the Nebraska Society of CPAs. Articles may be reproduced with written permission only. ADVERTISEMENTS: The publication of advertisements does not necessarily represent endorsement of those products or services by the Nebraska Society of CPAs. The editor reserves the right to refuse any advertisement. SUBSCRIPTION: Subscription to the magazine, a bi-monthly publication, is included in membership fees to the Nebraska Society of CPAs. PRESIDENT’S MESSAGE 7 Celebrate & Elevate By Joni Sundquist, Nebraska Society of CPAs 10 CPA Firm Regional Leadership Network 11 State Senators Reception & Dinner 12 2025 Conferences & Special Events Mark Your Calendars for These Outstanding Opportunities! STATE BOARD REPORT 13 Driving Progress New Rules & State Board Leadership at the National Level By Dan Sweetwood, Nebraska Board of Public Accountancy 15 Updates to Investment & Production Tax Credits Including Final Regulations on Transferability and Direct Pay, and Proposed Energy Property Regulations By Hannah Fischer Frey, Carrie E. Schwab & Jack Suter, Baird Holm LLP COUNSELOR’S CORNER 18 Adapting Irrevocable Trusts to Changing Circumstances Four Trust Modification Tools By Beau Morgan & Austin Hoffman, Koley Jessen 20 Who Are the Best Buyers When Selling an Accounting Practice? By Accounting Practice Sales 22 Open a Donor Advised Fund Before Year-End for Tax Benefits & Community Impact By Katie Vogel, Director of Donor Services, Omaha Community Foundation 23 In Memoriam 25 From Humble Beginnings to the Big Four Transforming the Future of the Accounting Profession By Larry Bradley, Global Head of Audit, KPMG International 28 Members in the News 30 Welcome New Society Members 31 2024 NESCPA Advertiser Index
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