20 14 C O N T E N T S 8 ©2025 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, 2025 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 8 Finishing Strong: A Year of Progress & Purpose By Joni Sundquist, Nebraska Society of CPAs STATE BOARD REPORT 10 State Board Committees Remain Engaged & Active By Dan Sweetwood, Nebraska Board of Public Accountancy 12 Qualified Opportunity Zones OBBBA Updates By Hannah Fischer Frey & Carrie E. Schwab, Baird Holm LLP COUNSELOR’S CORNER 14 Nebraska’s PTET Law Simplified Key Updates for CPAs & Tax Advisors By Jeffery R. Schaffart & Nicholas E. Bjornson, Koley Jessen 16 Close Out 2025 With a Smart Tax Move Help Clients Add Meaningful Future Investments By NEST Direct College Savings Plan TRANSFORMATION TRENDS 18 PE, Merge, or Move On? Navigating Next for Accounting Firm Owners By Donny Shimamoto, CPA, CITP, CGMA, Inspiration Architect, Center for Accounting Transformation 20 Show Me the Money How Accounting & Tax Practices Are Sold By Accounting Practice Sales 22 In Memoriam 23 Welcome New Society Members 23 Firms in the News 24 Members in the News 26 2025 NESCPA Advertiser Index
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