OFF I C I AL PUBL I CAT I ON OF THE NEBRASKA SOC I ETY OF CPAs ISSUE 3, 2022 NEBRASKA PAGE 6 PAGE 10 RELATIONSHIPS MATTER: BUILD CONNECTIONS THROUGH YOUR SOCIETY STATE & LOCAL TAX CONSIDERATIONS FOR BUYING OR SELLING A BUSINESS PRESIDENT’S MESSAGE:
■ Corporate Taxation ■ Partnership/LLC/Sub-S Entities ■ Estate & Gift Taxation ■ State & Local Taxation ■ Mergers & Acquisitions ■ Bankruptcy, Reorganizations & Restructuring ■ Tax Protests, Disputes & Litigation ■ Real Estate ■ Individual Taxation ■ Charitable Planning ■ Nonprofit Organizations ■ Employee Benefits & Executive Compensation A partnership that gets everyone where they want to go. You help your clients plot out prudent tax decisions. We can help them navigate the potential pitfalls and opportunities of today’s complex tax environments. Together, we can map out their routes to success. Contact Us Today. 402.390.9500 | koleyjessen.com/services-tax Helping CPAs statewide, Koley Jessen can be your tax law navigator.
BOARD OF DIRECTORS ERICA R. PARKS NESCPA CHAIRMAN (402) 431-9805 FORVIS Omaha LORRAINE A. EGGER NESCPA CHAIRMAN-ELECT (402) 965-0328 CyncHealth La Vista NEAL D. LYONS NESCPA SECRETARY (402) 434-7203 UNICO Group Inc. Lincoln DAVID E. SWAN NESCPA TREASURER (402) 420-7758 SP Group, PC Lincoln RYAN L. BURGER NESCPA PAST CHAIRMAN (402) 643-4557 Gabriel, Burger & Else, CPA, PC Seward JODI M. ECKHOUT NESCPA DIRECTOR (308) 995-6151 Woods & Durham, CPA Holdrege MEGAN C. HOLT NESCPA DIRECTOR (402) 342-7600 Mutual of Omaha Insurance Co. Omaha PATRICK A. MEYER PAST CHAIRMAN & AICPA ELECTED REPRESENTATIVE (402) 261-9622 HBE LLP Lincoln SHARI A. MUNRO PAST CHAIRMAN & AICPA ELECTED REPRESENTATIVE (402) 963-4316 Frankel Zacharia LLC Omaha DR. THOMAS J. PURCELL III NESCPA DIRECTOR (402) 280-2062 Creighton University Omaha LINDA M. SCHOLTING NESCPA DIRECTOR (402) 826-6777 Doane University Crete JESSICA L. WATTS NESCPA DIRECTOR (402) 330-2660 Seim Johnson LLP Elkhorn DANA J. WEBER WEST NEBRASKA CHAPTER PRESIDENT (308) 635-3008 Dana J. Weber, CPA Scottsbluff JONI SUNDQUIST NESCPA PRESIDENT & EXECUTIVE DIRECTOR joni@nescpa.org KELLY EBERT VICE PRESIDENT kelly@nescpa.org MICHELLE LYONS STAFF ACCOUNTANT & OFFICE MANAGER michelle@nescpa.org LORI VODICKA EXECUTIVE ASSISTANT lori@nescpa.org OFFICERS BOARD MEMBERS NESCPA STAFF IPE 1031 | 888.226.0400 | WWW.IPE1031.COM | INFO@IPE1031.COM EXPERTISE From a Respected Industry Leader THE PREMIER SPECIALIST FOR SECTION 1031 EXCHANGES SECTION 1031 EXCHANGE 3 nebraska society of cpas W W W . N E S C P A . O R G
20 10 C O N T E N T S 8 ©2022 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 3, 2022 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. 6 PRESIDENT’S MESSAGE: RELATIONSHIPS MATTER: BUILD CONNECTIONS THROUGH YOUR SOCIETY BY JONI SUNDQUIST, NEBRASKA SOCIETY OF CPAS 8 COUNSELOR’S CORNER: CLARITY ON INCOME TAX REIMBURSEMENT FOR GRANTOR TRUSTS IN NEBRASKA BY NATE PATTERSON & CRAIG BENSON, KOLEY JESSEN 10 STATE TAX BRIEFING: STATE & LOCAL TAX CONSIDERATIONS FOR BUYING OR SELLING A BUSINESS BY NICK NIEMANN & MATT OTTEMANN, MCGRATH NORTH LAW FIRM 13 2022 NESCPA COURSE CALENDAR 16 MEMBER SPOTLIGHT: STEVE LOFTIS HONORS UNCLE MAX ON A LONG, DIFFICULT TREK THROUGH THE DESERT BY CINDY LANGE-KUBICK, LINCOLN JOURNAL STAR 20 SUPERCHARGE YOUR ONLINE PRESENCE WITH THE .CPA DOMAIN BY CHRIS COMER, DIRECTOR OF OPERATIONS, CPA.COM 22 MEMBERS IN THE NEWS 24 FIRMS IN THE NEWS 27 CLASSIFIED ADS 30 WELCOME NEW SOCIETY MEMBERS! 31 IN MEMORIAM I S S U E 3 , 2 0 2 2
PRESIDENT’S MESSAGE BY JONI SUNDQUIST, NEBRASKA SOCIETY OF CPAS RELATIONSHIPS MATTER: BUILD CONNECTIONS THROUGH YOUR SOCIETY If we’ve learned anything over the last couple of years of quarantine, isolation, and staying six feet apart, it’s the importance of in-person interaction and personal relationships. While I am thankful that technology has allowed most of us to continue working, learning, and interacting, I am convinced of the intrinsic value of in-person, face-to-face communication—in building relationships, fostering engagement, encouraging collaboration, creating community, establishing trust, and inspiring creativity and innovation. While technology certainly plays a critical role in business today, there simply is no replacement for connecting with others in person. Did you know that feeling connected and having a sense of belonging elevate feelings of positivity and self-worth, and thereby contribute to an increase in happiness? It’s in our DNA—we are all wired to be in connection with others. The Nebraska Society of CPAs has been helping you make those connections and build relationships for 94 years! From our State Senators’ Reception &Dinner in January to our Two-Day Federal Tax Update in December, your Society is offering numerous in-person events and programs to bring all of us together once again in 2022. In April, we held our 4th Annual Business & Industry Conference in person, and in June, we brought you the Society’s 26th Annual Not-for-Profit Conference and 41st Annual Nebraska Governmental Accounting & Auditing Conference—all at the beautiful Hillcrest Country Club in Lincoln. Not only did we bring you a great group of speakers, but we also lucked out with three perfect days in June, which allowed us to enjoy lunch outside, soaking up the sun and fresh air between sessions while we reconnected with old friends and mingled with several first-time attendees. Yet to come this year are a wide variety of in-person learning opportunities, including three more major conferences—two of which are brand-new, first-time events. Women in Accounting Summit, Aug. 31 The Society’s first-ever Women in Accounting Summit will be held Aug. 31 at the newly constructed Crete Carrier Riverview Lodge at Mahoney State Park in Ashland. (The Lodge sits on a stunning hilltop location overlooking the Platte River Valley.) The Women in Accounting Summit will include sessions on leadership, management, and best practices to enhance the skills and potential of women leaders within the accounting and finance community. With the caliber of speakers we’ve lined up for this event—including former AICPA Chairman Kimberly Ellison-Taylor Former AICPA Chairman I S S U E 3 , 2 0 2 2 6 nebraska cpas
Kimberly Ellison-Taylor, BPM’s Chief Transformation Officer Lindsay Stevenson, Altaba CEOAlexi Wellman, and Creighton’s Maggie Knight, among others—you are sure to leave the conference revitalized, inspired, and ready to take on the world! Fall Conference & Annual Meeting, Oct. 27-28 The Society’s 22nd Annual Fal l Conference & Annual Meeting will be back in person at the Embassy Suites Conference Center in La Vista, Oct. 27-28. Joining us for a look at the “State of the CPA Profession” will be AICPA Vice Chairman Okorie Ramsey, who will kick off the conference. The two-day agenda is jam-packed with hot-topic sessions on the economy, federal and state tax developments, an agricultural tax update, fraud, workforce, auditing and accounting, data analytics, cloud-based data security, employment law, retirement plan audits, leadership, succession planning, and ethics. There will be something for everyone at the Society’s Fall Conference! In addition, the Annual Meeting will be a celebration of leadership as Chairman Erica Parks passes the gavel to Chairman-Elect Lori Egger, and as we congratulate Foundation scholarship recipients, Joni Sundquist is president and executive director of the Nebraska Society of CPAs. You may contact her at (402) 476-8482 or joni@nescpa.org. welcome new CPA certificate holders, and present four special awards to honor Society members whose excellence and career accomplishments have been a driving force for positive change in the profession and in the state. Talent Management Summit, Nov. 3 The Great Resignation, the Big Quit, the Great Reshuff le—whatever you want to call it, COVID-19 allowed employees to rethink their careers, work-life balance, and long-termgoals. The result is a tight labormarket.Many employers are eager to hire yet can’t find workers to fill the roles. What best practices should your organization have in place to attract and retain quality talent? Attend the Society’s first-ever Talent Management Summit featuring Jeremy Wortman of HRD Initiatives and put your learning into action! The summit will be held Nov. 3 at Shadow Ridge Country Club in Omaha. Participants will be asked to complete a pre-session survey to see how your organization compares to others, and to identify areas of strength and weakness that can be targeted for action once you’re back at the office after the event. You’ll learn how to “connect the dots” between your investment in talent management activities and your organization’s revenue. Also on the agenda is retaining talent, where you’ll discover tactics to help keep your employees in place, as well as defining your culture, where you will assess and benchmark your organization’s employee value proposition. Building and leveraging talent, hiring quality talent with the use of science, and brainstorming action items to take back to your work are also on the summit agenda. View the details and register today for any or all of these conferences at https://bit.ly/NESCPA-Conferences. You’ll find our other in-person events listed at https://bit.ly/NESCPA-In-Person-Events. People are the key in every firm, in every organization, in every profession. It’s time to make time in order to connect, or reconnect, with your colleagues and peers. What better way to do this than at a Society event. I look forward to seeing you, face to face, throughout the rest of the year! People are the key in every firm, in every organization, in every profession. It’s time to make time in order to connect, or reconnect, with your colleagues and peers. What better way to do this than at a Society event. Okorie Ramsey AICPA Vice Chairman Jeremy Wortman President, HRD Initiatives 7 nebraska society of cpas W W W . N E S C P A . O R G
CLARITY ON INCOME TAX REIMBURSEMENT FOR GRANTOR TRUSTS IN NEBRASKA C O U N S E L O R ’ S C O R N E R In modern wealth transfer planning, strategies involving the transfer of assets into irrevocable trusts are commonplace. Many of these irrevocable trusts are referred to as “intentionally defective grantor trusts” (IDGT) and are treated as “grantor trusts” for federal income tax purposes, requiring the grantor to pay all income taxes attributable to such trust despite having no access to the trust’s assets. However, for transfer tax purposes, the IDGT is treated as a separate taxpayer. This difference between income and transfer tax treatment has led the IDGT to be the wealth transfer planning vehicle of choice for many advisors. The taxation of all trust income to the grantor is an extremely powerful wealth transfer planning tool, essentially allowing the grantor to make tax-free gifts to the trust each year of the taxes paid without the use of the grantor’s annual exclusion or lifetime exemption. However, during times of economic hardship or in tax years with an abnormally high tax bill (e.g., such as upon the sale of a closely held business interest at a premium), the income tax imposed on the grantor can present a tremendous cash f low burden. To deal with this issue, many practitioners seek to include a discretionary power allowing an independent trustee to reimburse BY NATE PATTERSON & CRAIG BENSON, KOLEY JESSEN I S S U E 3 , 2 0 2 2 8 nebraska cpas
The continued and repeated exercise of the power on a routine basis increases the risk of an IRS challenge, so the conservative trustee should show restraint and only exercise the power judicially. the grantor (or pay directly to the applicable taxing authority) for those income taxes attributable to the assets of the trust (known as Tax Reimbursement Power). ATax Reimbursement Power does not reduce the amount of income tax due, but rather allows the trustee to shift the burden of paying the tax liability from the grantor to the trust. Until recently, it remained unclear whether the inclusion of a Tax Reimbursement Power in the terms of a Nebraska trust caused inclusion in the grantor’s gross estate following death. The risk of gross estate inclusion arises from operation of IRC § 2036(a) for transfers with a retained life estate because the grantor of the trust retains access to the trust’s income through reimbursement distributions. The triggering of IRC § 2036(a) risks total inclusion of the trust’s assets, regardless of the amount of income tax liability or distribution made to the grantor for any particular year. In Revenue Ruling 2004-64, the IRS clarified that although a mandatory Tax Reimbursement Power causes gross estate inclusion, a discretionary Tax Reimbursement Power on its own does not. However, when paired with other factors, inclusion may still be a risk. These factors include, but are not limited to: • an understanding or pre-existing arrangement between the grantor and trustee to make reimbursement distributions; • a power retained by the grantor to remove the current trustee and appoint a successor trustee; and • local law subjecting the trust assets to the claims of the grantor’s creditors. Pursuant to the Revenue Ruling, state law is also determinative on the gross estate inclusion issue. If, under applicable state law, the incorporation of a Tax Reimbursement Power causes the trust to be subject to the grantor’s creditors, or to become “self-settled,” then the mere insertion of a Tax Reimbursement Power in the trust causes gross estate inclusion following the grantor’s death. Koley Jessen, PC, LLO prepared the draft legislative language and testified before the Banking, Commerce, and Insurance Committee of the Nebraska Legislature in favor of LB 707, which clarifies under Nebraska law that a Tax Reimbursement Power on its own will not cause gross estate inclusion following a grantor’s death in accordance with Revenue Ruling 2004-64. The Nebraska Legislature passed LB 707 on April 12, 2022, and the Governor signed the bill into law on April 20, 2022. The effective date of the new law is July 20, 2022. LB 707 updates the Nebraska Uniform Trust Code (NUTC) to provide clarity necessary to use Tax Reimbursement Powers in Nebraska IDGTs without the risk of gross tax inclusion. The newly updated NUTC provides: • A trustee’s discretionary reimbursement power on its own will not subject the trust’s assets to the claims of the grantor’s creditors (NUTC § 30-3850(a)(2)(B)); • A trustee’s discretionary reimbursement power on its own will not cause the grantor to be considered a beneficiary of the trust (NUTC § 30-3850(a)(2)(C)); and • Nebraska trustees have a discretionary reimbursement power, so long as that trustee is not considered a “related or subordinate party” to the grantor of the trust under the “grantor trust” rules of the Internal Revenue Code (NUTC § 30-3881(b)). Nationally, 26-plus states have adopted similar legislation to provide clarity that the use of Tax Reimbursement Power alone will not cause gross estate inclusion. It is important to note that the passage of LB 707 only provides advisers and trustees with the platform on which to potentially use a Tax Reimbursement Power. There are other factors to consider when deciding whether to include such a power and the form that power takes within the trust agreement. If drafted incorrectly, a Tax Reimbursement Power may still cause gross estate inclusion. With that said, the passage of LB 707 is just one more step in modernizing the NUTC and provides advisers and trustees alike with one more tool in their toolbox to add f lexibility and value to their wealth transfer planning clients. The advisability on whether a trustee should exercise the Tax Reimbursement Power is fact-specific and should only be determined on a case-by-case basis. The continued and repeated exercise of the power on a routine basis increases the risk of an IRS challenge, so the conservative trustee should show restraint and only exercise the power judiciously. Nate Patterson and Craig Benson are attorneys at Koley Jessen, focusing their practices on estate planning and administration, business succession planning, and tax. Patterson and Benson counsel business owners, families, and individuals, and work closely with CPAs in the structuring and implementation of plans to ensure wealth accumulation and protection for their clients through sophisticated tax minimization and mitigation techniques. For more information, contact them at nathan.patterson@koleyjessen.com and craig.benson@koleyjessen.com, respectively. 9 nebraska society of cpas W W W . N E S C P A . O R G
S TAT E TA X B R I E F I N G Buying or selling a business is one of the most significant business steps that business owners will take in their lifetime. In that process, many decisions must be made—often in a very short timeframe. In our recently published guide, “How to Sell Your Company” (available at www.NebraskaStateTax.com), we address a variety of critical steps to be taken to sell a company. An important area that should not be overlooked is the state and local tax and incentive impacts that come into play from buying or selling a business. Failure to consider or plan for these state and local tax and incentive impacts can have significant adverse effects. STATE & LOCAL TAX CONSIDERATIONS FOR BUYING OR SELLING A BUSINESS BY NICK NIEMANN & MATT OTTEMANN, MCGRATH NORTH LAW FIRM Many incentive programs can be carried on by the buyer of a company and allow the buyer access to incentives for the buyer’s continuation of the business activities in a state. I S S U E 3 , 2 0 2 2 10 nebraska cpas
Below we review some of the topics that all business buyers and sellers need to consider before they sign that final purchase agreement. Potential Successor Liability Many states, including Nebraska, have laws that can impose successor liability on the buyer of a business for sales, withholding, or income taxes that were not paid by the previous business owner. However, buyers often have the ability to request a tax clearance certificate from a state, which will assure the buyer that no unpaid taxes are due. Alternatively, if unpaid taxes are due, the state will provide that information to the buyer so the purchase price can be allocated accordingly. Buyers should determine the states in which a business may have potential tax liabilities and then consider whether a tax clearance certificate should be requested from those states. This procedure can also help sellers, as they remain liable for unpaid taxes incurred during their ownership. Confirmation of any taxes owed—or that no taxes are due—can help bring finality for sellers. Transfer of Incentive Projects Many businesses have incentive projects from state and local governments based on their investment and employment in a state. For example, Nebraska offered incentives from 2005-2020 under the Nebraska Advantage Act and now offers incentives under the Imagine Nebraska Act, as well as a variety of other programs. We’ve discussed some of these programs in more detail in previous articles. Many incentive programs can be carried on by the buyer of a company and allow the buyer access to incentives for the buyer’s continuation of the business activities in a state. However, those programs often have specific rules that must be followed for the project to be properly transferred to a buyer. In addition, both buyers and sellers need to be aware which of them may have potential liability for repaying incentives should ongoing requirements of an existing incentive project not be met. Unplanned Nexus The concept of “nexus” refers to a state’s legal ability to impose tax on a company or individual. If a company or individual has “nexus” in a state, that means that such state can tax the company or individual. Taxable nexus can be acquired in multiple ways, but the most typical is having physical presence in a state. Physical presence for companies means that the company has property or employees in that state. Taxable nexus can also, through recent court decisions, be acquired by having an economic presence in a state. One of the greatest changes in business over the past few years has been the rise of remote working arrangements. For many types of employees, companies are no longer limited to hiring people in their geographic footprint. They can hire anywhere and have those employees work remotely. But, this hiring arrangement may mean that such company now has taxable nexus in the state where the remote employee is located— based on the employee’s physical presence in that state. So, buyers should be sure they understand the locations where all employees work— including the seller’s offices and remote employees—and the implications that the locations of those offices will have on state and local taxes. The alternative is an unexpected state tax liability. Nebraska’s Special Capital Gains Exclusion This factor is important to business sales in Nebraska by Nebraska residents. Nebraska’s special capital gains exclusion lets owners of many Nebraska-based corporations avoid Nebraska income tax 11 nebraska society of cpas W W W . N E S C P A . O R G
Nick Niemann and Matt Ottemann are partners with McGrath North Law Firm. As state and local tax and incentives attorneys, they collaborate with CPAs to help clients and companies evaluate, defend, and resolve tax matters and obtain various business expansion incentives. See their websites at www.NebraskaStateTax.com and www.NebraskaIncentives.com for more information. For a copy of their full publication, “A Guide on How to Sell Your Company” or their “Nebraska Business Expansion Decision Guide,” visit their websites or contact them at (402) 341-3070 or at nniemann@mcgrathnorth.com or mottemann@mcgrathnorth.com, respectively. on the sale of their corporate stock. The Legislature’s goal in enacting the exclusion was to keep corporate shareholders from leaving Nebraska before the shareholders sold their corporate stock. Many owners of Nebraska-based corporations had been leaving Nebraska for non-income tax states to avoid paying Nebraska income tax on the capital gain from that sale. There are a number of requirements that corporate shareholders must meet to qualify for the exclusion. Each individual may elect to claim the exclusion for one corporation in his or her lifetime. The shareholder must have acquired his or her shares while employed, or on account of employment, at a corporation with Nebraska operations. Another key requirement is that the corporation must have at least five shareholders at the time of first sale or exchange for which the election to claim the exclusion is made. If possible, sellers of a corporation’s stock will want to structure their sale transaction to take advantage of this exclusion. This generally takes planning to ensure all requirements for the exclusion are met. Transfer Taxes on Sale of Assets The decision to structure a transaction as the sale of stock (or LLC interests) or the sale of assets is a key decision, made for a number of factors. One factor not to be overlooked is the potential sales and use tax from the sale of assets. For sales and use tax purposes, many states provide bulk sale exemptions for the sale, in one transaction, of the majority of assets used by one business. For example, Nebraska has such an exemption. However, some states, such as New York, have an extremely small exemption amount, which may lead to unexpected sales and use tax obligations for the buyer if the transaction is not properly structured. In addition, some states impose transfer taxes on the value of qualifying assets sold as part of an acquisition. These transfer taxes may include real estate conveyance taxes, controlling interest transfer taxes, or other taxes that are attributable to a business acquisition. For example, Nebraska has a real estate transfer tax that may be applicable to the sale of real estate in a business acquisition. Implications of a Changing Business Model Many buyers purchase an existing business and intend to update its business model to better fit within the buyer’s existing business or in an attempt to expand the existing business. Business model innovations can have signif icant tax implications, including whether sales and use tax is due on the business transactions following the change and how income is apportioned between states (as apportionment methods often vary based on the nature of the business being conducted). Therefore, buyers should be sure they have considered the state and local tax implications from changing the business model of the existing business they are acquiring. Those buyers may now have to collect sales or use tax that the existing business was not required to collect. In addition, a buyer may have a very different income tax liability than the seller had. For sales and use tax purposes, many states provide bulk sale exemptions for the sale, in one transaction, of the majority of assets used by one business. I S S U E 3 , 2 0 2 2 12 nebraska cpas
2022 NESCPA COURSE CALENDAR DATE TYPE EVENT TITLE VENDOR LOCATION CPE/ ETHICS HOURS JULY 7/6 AA Audits of Nebraska School Districts Nebraska Society of CPAs Ramada Midtown Conference Center, Grand Island 8 7/7 TX Mergers & Acquisitions: A Complete Guide to Relevant Issues Werner Rocca, Art Werner Live Webcast 4 7/11 TX A Practical Guide to Trust Werner Rocca, Art Werner Live Webcast 8 7/117/14 MA AHI Staff Training - Level 1 - Basic Staff Training AHI Associates Live Webcast 24 7/14 AA Advanced Audits of 401(k) Plans: Best Practices & Current Developments Surgent Live Webcast 8 7/15 AA Audits of 401(k) Plans: New Developments & Critical Issues Surgent Live Webcast 8 7/18 IT Microsoft Office 365: All the Things You Need to Know K2 Enterprises Live Webcast 8 7/19 AA Next Generation Excel Reporting K2 Enterprises Live Webcast 8 7/19 TX S Corporation Preparation, Basis Calculations & Distributions - Form 1120S Schedule K & K-1 Analysis The Tax U, The Garvs LLC Live Webcast 8 7/20 TX Partnership Preparation, Basis Calculations & Distributions - Form 1065 Schedule K & K-1 The Tax U, The Garvs LLC Live Webcast 8 7/26 TX Social Security & Medicare: Planning for You & Your Clients Surgent Hampton Inn & Suites, Scottsbluff 8 7/27 TX Securing a Comfortable Retirement Surgent Hampton Inn & Suites, Scottsbluff 4 7/27 ET Ethical Considerations for CPAs Surgent Hampton Inn & Suites, Scottsbluff 4/4 7/27 IT Excel Charting & Visualizations K2 Enterprises Live Webcast 4 7/27 IT Hands-On With QuickBooks Online Accountant for Public Accounting K2 Enterprises Live Webcast 4 7/28 AA Implementing Internal Controls in QuickBooks Environments K2 Enterprises Live Webcast 4 7/28 IT Improving Productivity With Office 365 Cloud Applications K2 Enterprises Live Webcast 4 7/29 IT Integrating Data for Improved Efficiency & Control K2 Enterprises Live Webcast 4 7/29 IT Introduction to Excel Macros K2 Enterprises Live Webcast 4 AUGUST 8/4 AA How Accountants Create Value Via ESG Intraprise TechKnowlogies LLC Live Webcast 4 8/9 AA Conquering the New Lease Standard Real World Seminars, Co-sponsoring with Iowa Society of CPAs Live Webcast 4 8/15 AA Revenue Recognition: Mastering the New FASB Requirements AICPA Quarry Oaks, Ashland 8 8/16 AA Leases: Mastering the New FASB Requirements AICPA Quarry Oaks, Ashland 8 8/17 Tax Partnership Essentials & Reporting Basis Van Der Aa Tax Ed LLC Mahoney State Park, Ashland 8 8/18 Tax S Corporation Essentials: Reporting Shareholder Basis and More Van Der Aa Tax Ed LLC Mahoney State Park, Ashland 8 13 nebraska society of cpas W W W . N E S C P A . O R G
8/19 Tax Fiduciary Accounting and Tax Preparation for Estates Van Der Aa Tax Ed LLC Mahoney State Park, Ashland 8 8/23 CONF Agriculture Conference Iowa Society of CPAs Live Webcast 8 8/29 Tax Employee Stock Options Surgent, Co-sponsoring with Iowa Society of CPAs Live Webcast 2 8/29 MA Annual Update for Controllers AICPA UNO Thompson Alumni Center, Omaha 8 8/30 AA Governmental Accounting & Auditing Update AICPA UNO Thompson Alumni Center, Omaha 8 8/31 AA 1st Annual Women in Accounting Summit Nebraska Society of CPAs Crete Carrier Riverview Lodge at Mahoney State Park, Ashland 6 9/6-9/9 MA AHI Staff Training - Level 1 - Basic Staff Training AHI Associates Live Webcast 24 9/16 TX Estate Planning for 2022 & Beyond Werner Rocca, Art Werner Live Webcast 8 9/199/22 MA AHI Staff Training - Level 2 - Semi-Senior AHI Associates Live Webcast 24 9/19 TX Basis Calculations & Distributions for Pass-Through Entity Owners - Schedule K-1 Analysis The Tax U, The Garvs LLC Live Webcast 8 9/20 TX Passive Activities & Rental Real Estate Income Tax Issues The Tax U, The Garvs LLC Live Webcast 8 9/21 Tax Estate Tax Planning Options for Farmers CLA Live Webcast 4 9/28 FN Current Developments & Best Practices for Today's CFOs & Controllers Surgent Live Webcast 8 9/29 TX Traps & Pitfalls in Estate Planning Werner Rocca, Art Werner Live Webcast 8 10/2 MA Management & Leadership Essentials AHI Associates Live Webcast 8 10/4 MA Advanced Controller & CFO Skills AICPA UNO Thompson Alumni Center, Omaha 8 10/5 MA Controller's Update: Today's Latest Trends AICPA UNO Thompson Alumni Center, Omaha 4 10/5 MA Finance Business Partnering: The Changing Finance Function & Technology Impacts - NEW! AICPA UNO Thompson Alumni Center, Omaha 4 10/12 TX Maximizing Your Social Security Benefits Surgent Live Webcast 4 10/12 ET Ethical Considerations for CPAs Surgent Live Webcast 4/4 10/13 AA Accounting, Audit & Attest Update for Practitioners With Small-Business Clients Surgent Live Webcast 8 10/18 TX 2022 Guide to Real Estate Tax Strategies Larry Stein Mahoney State Park, Ashland 8 10/19 TX Pass-Through Entity Immersion Workshop Larry Stein Mahoney State Park, Ashland 8 10/20 TX 2022 Guide to Retirement, Income Tax & Estate Planning Strategies (Giving Your 60-Plus Client a Planning Check-up) Larry Stein Mahoney State Park, Ashland 8 10/2410/27 MA AHI Staff Training - Level 1 - Basic Staff Training AHI Associates Live Webcast 24 10/26 AA Conquering the New Lease Standard Real World Seminars, Co-sponsoring with Iowa Society of CPAs Live Webcast 8 SEPTEMBER OCTOBER I S S U E 3 , 2 0 2 2 14 nebraska cpas
11/1 Tax The Complete Trust Workshop Surgent, Co-sponsoring with Iowa Society of CPAs Live Webcast 8 11/1 AA 2022 Accounting & Auditing Update for the Real World Real World Seminars Quarry Oaks, Ashland 8 11/2 AA 2022 Preparation, Compilation & Review (SSARS) Update for the Local Firm Real World Seminars Quarry Oaks, Ashland 8 11/3 CONF Talent Management Conference Nebraska Society of CPAs TBD 8 11/7 Tax Key Tax Issues Facing Business & Industry Van Der Aa Tax Ed LLC Quarry Oaks, Ashland 8 11/8 Tax It's Personal! Individual Tax Update 2022 Van Der Aa Tax Ed LLC Quarry Oaks, Ashland 8 11/9 Tax Year-End Tax Planning: Thinking Outside the Box Van Der Aa Tax Ed LLC Quarry Oaks, Ashland 8 11/11 TX Federal Tax Update - Individual & Business - ONE DAY! TaxSpeaker, Co-sponsoring with Iowa Society of CPAs Live Webcast 8 11/1411/17 MA AHI Staff Training - Level 4 - Management & Leadership Essentials AHI Associates Live Webcast 24 11/17 TX This Year's Best Income Tax, Estate Tax & Financial-Planning Ideas Surgent Live Webcast 8 11/18 TX Estate & Life Planning Issues for the Middle-Income Client Surgent Live Webcast 8 12/112/2 TX 2022-2023 Two-Day Federal Tax Update - Individuals & Businesses The Tax U, The Garvs LLC Embassy Suites, La Vista, NE 16 12/7 Tax Getting Ready for Busy Season: Key Changes Every Tax Practitioner Should Know Surgent, Co-sponsoring with Iowa Society of CPAs Live Webcast 4 12/12 Tax Preparing Individual Tax Returns for New Staff & Para-Professionals Surgent, Co-sponsoring with Iowa Society of CPAs Live Webcast 8 12/1212/15 MA AHI Staff Training - Level 5 - Advanced Management & Leadership Essentials AHI Associates Live Webcast 16 12/12 AA Nonprofit Accounting & Financial Reporting Paul Koehler Hillcrest Country Club, Lincoln 8 12/13 AA Governmental Accounting & Auditing Update Paul Koehler Hillcrest Country Club, Lincoln 8 12/13 Tax Tax Forms Boot Camp: LLCs, Partnerships & S Corporations Surgent, Co-sponsoring with Iowa Society of CPAs Live Webcast 8 12/14 Tax "General Sales Tax & Nebraska Incentive Program " Nebraska Department of Revenue Mahoney State Park, Ashland 4 12/14 ET Doing the Right Thing: Continuing to Refresh Your Ethical Foundation Bryan Slone Mahoney State Park, Ashland 4/4 12/15 TX The Complete Guide to Payroll Taxes & 1099 Issues Surgent Live Webcast 8 12/19 Tax 2022 Federal Tax Update for Businesses & Individuals Van Der Aa Tax Ed LLC Quarry Oaks, Ashland 8 12/20 Tax 2022 Federal Tax Update for Businesses & Individuals Van Der Aa Tax Ed LLC Ramada Midtown Conference Center, Grand Island 8 10/2710/28 AA 22nd Annual Fall Conference & Annual Meeting Nebraska Society of CPAs Embassy Suites, La Vista 16 10/31 Tax Social Security & Medicare: Planning for You & Your Clients Surgent, Co-sponsoring with Iowa Society of CPAs Live Webcast 8 10/3111/3 MA AHI Staff Training - Level 3 - Beginning In-Charge AHI Associates Live Webcast 24 NOVEMBER DECEMBER 15 nebraska society of cpas W W W . N E S C P A . O R G
MEMBER SPOTLIGHT: STEVE LOFTIS HONORS UNCLE MAX ON A LONG, DIFFICULT TREK THROUGH THE DESERT BY CINDY LANGE-KUBICK, LINCOLN JOURNAL STAR Steve Loftis set off with Uncle Max early Thursday morning. The Lincoln man left his home on Jade Court at 5 a.m., wearing combat boots and camo and a weighted rucksack, the start of a 26.2-mile trek along south Lincoln trails in honor of Max Lockhart, the uncle he never knew. A mile away, his neighbor and training buddy, Pat Driver, waited in the dark with a cowbell and a blast of ’80s rock to send him on his way. He was back on Jade Court at 10:46 a.m. with that bell, ringing Loftis home. Six months of training and another BataanMemorial DeathMarch marathon in the books—this one virtual—in memory of Pfc. Max Lockhart, forever 23. Loftis grew up in Tekamah, like his Uncle Max before him. It was a patriotic town, the 69-year-old said. A proud American town. Steve Loftis of Lincoln after the 2016 Bataan Memorial Death March in White Sands, N.M. The memorial march honors the thousands who died on the march to prisoner of war camps in the Philippines in April 1942. Loftis walks with his Uncle Max Lockhart’s photo taped to the back of his heavy rucksack. Lockhart died in a POW camp. One mile into the Bataan Memorial Death March in 2016. Steve Loftis trains for six months to prepare for the 26.2 mile march wearing combat boots and a 35-pound rucksack. Steve Loftis received a bachelor’s degree in business with an accounting emphasis from the University of Nebraska-Lincoln in 1978, followed by a master’s degree in management from Doane University in Crete. He received his CPA certificate in 1979, working for Peat Marwick (now KPMG LLP) before moving into private industry. Loftis retired in 2012 as vice president, secretary, and CFO of Lester Electrical in Lincoln. He has been a member of the Nebraska Society of CPAs since 1985. I S S U E 3 , 2 0 2 2 16 nebraska cpas
Steve Loftis (left) with friend Dick Waller who accompanied him the last 12 miles of the 26.2-mile Bataan Memorial Death March virtual edition in 2021. Loftis believed in serving, too. He joined the Air Force after high school. He became an Army helicopter pilot. He spent four years in active duty and served for more than three decades afterward, mostly in the Nebraska National Guard. “The military has more to do with who I am than any other aspect of my life,” he said. “And as I developed my military understanding, Max became more of a question mark in my history. Who was he? How do I get to know him?” The VFW in Tekamah is named for Lockhart and a pair of classmates who joined the Army and shipped out to the Philippines after basic training. Three Nebraska soldiers out of more than 60,000 American and Filipino troops who were captured when the Japanese took the Bataan Peninsula on April 9, 1942. The soldiers were forced to march through the jungle in the stif ling heat to prison camps 65 miles away. Many died on the days-long march, sickened by malaria, beaten by the Japanese, a torturous trek that would earn the title Bataan Death March. Hundreds more—including Lockhart and his Tekamah classmates—died in Japanese POW camps. Loftis heard about the memorial march at White Sands Missile Range in New Mexico in the early ’90s. But he was busy then. Being a dad, working his civilian job as a comptroller, and serving in the guard as command chief warrant officer. Then, in 2009, he retired from the military and three years later, he retired from his civilian job and put on a rucksack and started to train. He’d long been a marathon runner. He helped start the Nebraska Guard involvement in the Lincoln Marathon and served as team captain the first two years. He was naturally competitive. A guy who liked to push himself and his body. And he knew a little about Lockhart, his mother’s brother. He knew Max came from a big family. He knew his loved ones called him Sam, although he didn’t know why. He knew his uncle had played high school football. That he was strong. And he guessed that times were hard in Burt County when he enlisted in the Army. “I’m suspecting he joined because there was no other way to make a living.” Loftis spent the fall and winter of 2012 training for his first march. He found a photograph in his aunt’s family album. Max, the high school senior, smiling for the camera, his head tilted, wearing a white shirt and a polka-dot tie. He digitized it, made a copy, pinned it to the back of his rucksack and set off for New Mexico. He kept going back. In 2019, shoulder surgery stopped him. And in 2020, the pandemic canceled the march altogether. Loftis competes in what’s called the heavy military division of the march, making the 26.2-mile trek in full combat gear, carrying 35 pounds on his back. 17 nebraska society of cpas W W W . N E S C P A . O R G
Training starts in October, six months before the early April event. He’s out the door at 5 a.m., wearing long, khaki pants, something on his head, gloves, combat boots. He’s getting his feet ready. Strengthening the muscles, building up calluses. He starts with an empty pack and an eight-mile walk down Old Cheney Road. He slowly builds. He adds miles and weight to the rucksack. Clothing and water bottles. Lead weights. He cross-trains. Swimming, weightlifting, running. If it’s icy, he heads to Madonna Proactive to work out inside. He prefers the fresh air. “Four or five hours on the treadmill is deadly,” he says. In 2014, Driver, his neighbor with the cowbell, started training with him. “I remember thinking, ‘You’re walking a marathon? What’s the big deal?’” Driver said. “Biggest understatement on the planet.” Eventually, they traveled to New Mexico together, competing in their age divisions. Sometimes winning them. He understands the physical challenge of carrying that pack, trudging in those boots through the desert. And he’s in awe of his neighbor, a generation older. “He’s a testament to what a lifetime of physical fitness can do,” Driver said. “And more than anything, he has conditioned his mind to overcome what his body says it can’t do.” In 2019, when Loftis was sidelined by shoulder surgery, Driver went alone, Uncle Max on the back of his pack. Last year, organizers offered a virtual version. It was lonely those first miles, Loftis said. A buddy fromMadonna—77-year-old DickWaller—joined Loftis for the final 12 miles. His wife, Linda, was there to greet Loftis at the end of the march—a personal best time of 5 hours and 46 minutes in the relative ease of the Nebraska plains. “I had the whole day ahead of me.” Uncle Max urges him on. “Max always helps me through the last few miles in New Mexico because they are tough. We’re a team, and knowing he and I are doing it together helps.” It’s hard to explain, he says. The same way it’s hard to describe the memorial march. The temperature in the desert. The pre-dawn cold, followed by oppressive heat. Relentless sun. The terrain, most of it sand, sometimes deep. Steep inclines and treacherous downhills. Fierce winds. The reason that thousands travel to the desert. “After I did that first one inMarch 2013, that’s when Bataan really embedded itself in my brain, and I could appreciate the role Max played in that event.” The march is just a piece of the three-day gathering in New Mexico. There are movies about the war and the death march. Question-and-answer sessions. Survivors from all over the country, fewer and fewer each year. Loftis has met some of them. “They could have been the last handful of people who ever knew my uncle.” It’s a great history lesson, Loftis says. “I’d like to see more people know about it. It’s good for people to remember the sacrifices that people made so we could have the existence we have now.” Driver felt it, too. On the morning of the march, there’s a 30-minute pre-race sendoff. The sun is rising, and the desert is still. Soldiers are standing at attention. A Filipino delegation is there. American soldiers, too. Wounded warriors. Steve Loftis (left) and Pat Driver before the Bataan Memorial Death March in 2016. Loftis convinced his much-younger neighbor to take the challenge with him. I S S U E 3 , 2 0 2 2 18 nebraska cpas
• Business succession and exit planning • Partnership taxation structuring and compliance • Tax credit, tax incentives, and alternative financing • Tax-free and tax-deferred acquisitions, mergers, and reorganizations • Tax-deferred Section 1031 exchanges • Wealth transfer planning, including trust and estate taxation • Nonprofit formation and tax-exempt qualification and compliance • Audit response and representation before the IRS, state, and local taxing authorities LET OUR EXPERIENCE WORK FOR YOU 1700 Farnam Street, Suite 1500 Omaha, NE 68102 www.bairdholm.com Max D. Lockhart of Tekamah who died in a Japanese POW camp in the Philippines in World War II. Steve Loftis wears his uncle’s photo during the annual Bataan Memorial Death March in New Mexico. Young soldiers, veterans. They start to call roll. Survivors. Those who perished. He can see his friend and neighbor in the throng. Wearing his heavy pack with a black-and-white photo attached to the back, showing its wear after so many miles. “He’s standing in front of me at attention, and he’s honoring his Uncle Max.” This article was originally published by Cindy Lange-Kubick in the Lincoln Journal Star on April 20, 2021, and updated May 25, 2021. The above version has been edited only to account for changes in time. Lange-Kubick is a former columnist for the Journal Star. “I’d like to see more people know about it. It’s good for people to remember the sacrifices that people made so we could have the existence we have now.” 19 nebraska society of cpas W W W . N E S C P A . O R G
SUPERCHARGE YOUR ONLINE PRESENCE WITH THE .CPA DOMAIN BY CHRIS COMER, DIRECTOR OF OPERATIONS, CPA.COM Put a good idea in the hands of CPAs, and they’ll find innovative ways to make it even better. That’s exactly what’s happening right nowwith the new .cpa web domain. When .cpa was launched in fall of 2020, there were plenty of good reasons for firms to take notice. For starters, it’s a practical way to enhance client trust. When clients see a firm with a .cpa domain, they know it’s a firm they can trust rather than some questionable f ly-by-night operation. That’s because only individually licensed CPAs and licensed CPA firms can obtain a .cpa domain through a verif ication process managed by CPA.com, a subsidiary of the AICPA. There’s also the issue of security: When firms adopt the .cpa domain, they’re better able to protect firm and client data from phishing and other security threats, since top-level domains like .cpa are more resistant to fraud than the less-regulated, more commonly used .com. And then there are the brand benefits. When it comes to using the .cpa domain to support their brand and marketing strategies, firms have been steadily innovating and creating new opportunities and advantages that weren’t immediately obvious. As a result, in only a short time the profession has seen a host of new domain strategies take f light—and they’re just getting started. If you’re wondering whether your firm shouldmake themove to a .cpa domain, here are some domain-based brand strategies (in addition to the benefits of heightened security and trust) that your peers in the profession are already putting to work. “Let’s use this as an opportunity to rebrand.” Rebranding is perhaps the most obvious opportunity presented by the .cpa domain. If your firm feels tethered to a name or web address that it had outgrown but couldn’t find a better option in the overcrowded realm of .com domains, the .cpa domain allows the firm to start fresh. Stuck with JonesCPA.com even though Jones retired five years ago? This is a rare chance to get the website address that fits the firm’s present and future ambitions. I S S U E 3 , 2 0 2 2 20 nebraska cpas
“We need a shorter domain!” As the internet matured, all the good domains were quickly snatched up. If you wanted to own the JonesCPA.com address, it was probably already held by some other Jones CPA, or by a squatter who bought it in the hopes of selling it at a higher price. This led to some very long domains that are virtually impossible for clients to remember. The .cpa domain offers the opportunity for firms to secure shorter, more memorable domains—a simple and effective boost to your brand and marketing efforts. That’s why Texas-based DWG CPA jumped at the opportunity to secure the DWG.cpa URL, which is easy for clients and prospects to remember and supports the firm’s branding efforts. “Over 10 years ago, we secured dwgcpatx.com for our newly launched firm,” said Managing Director Darrell Groves, CPA, CGMA. “But as our firm grew and matured over the years, it became clear that our domain name was just too long and hard to remember. When we thought about the value of marketing our firm, and of having a shorter url, it didn’t take us long to decide we needed to make the move to a .cpa domain,” he said. “Let’s target specific markets with our domain.” Specialization continues to grow in importance as a tool for firms to distinguish themselves from the competition and tap into a deep well of clients. For example, some firms focus on serving the restaurant industry, or manufacturers. Others specialize in certain types of services, such as taxes, SOC audits, or client accounting services (CAS), to name only a few. Some focus on segments such as startups. Some firms distinguish by geography and are looking to market themselves within specific towns, regions, or states. Many firms have already started to adopt domain names that ref lect their specific niche, making it easier for clients to find them in online searches and reinforcing their commitment to specific markets. Acosta Tax & Advisory’s MiamiBeach.cpa is one example of this hyper-targeted strategy in action, helping the firm appear prominently in the online search results of prospective clients looking for a CPA in the area. Another is SOCAudit.cpa. Guess what they specialize in? Firms can even heighten the impact of these URLs through a multiple domain strategy. By leveraging website redirects, they can advertise market-specific or geotargeted URLs that stand out from the competition and then redirect web browsers to a primary website. This strategy enables firms to have a primary website, such as Cromer.cpa, but also advertise with catchy, branded domains such as TaxGuru.cpa or BayArea.cpa, while not having to manage multiple websites. The .cpa domain hasn’t been available for very long, so right now is the best time to secure your firm’s top pick. It’s easy to do—just visit Domains.cpa. You’ll find all the details you need to inform your decision, including a whitepaper, case studies, and video interviews with leaders at firms that have already made the switch. In these short videos, these leaders share their tips and best practices for transitioning to a .cpa URL. 21 nebraska society of cpas W W W . N E S C P A . O R G
Members in the News Michael F. Berry has become a partner of O’Donnell FicenecWills &Ferdig LLP in Omaha. Berry graduated with a degree in accounting from the University of Nebraska at Omaha. His accounting background is in financial and performance auditing for clients in both the corporate and government arenas in addition to tax compliance and planning. In addition, Berry ran his own small business for 12 years, a landscaping company that he sold in 2011. He is a member of both the Nebraska Society of CPAs and the AICPA and volunteers as a board member and treasurer for ACLU Nebraska and on the finance committee for Nebraska Appleseed. He has also served on the Fontenelle Forest Board of Directors. Ronald K. “Ron” Jester is serving as treasurer of the board for the Food Bank of Lincoln. He has been a member of the board since 2015, volunteering as treasurer for most of those years. Jester’s public accounting career began in 1985; he’s currently a partner at Labenz & Associates LLC in Lincoln. He holds a Master of Professional Accountancy from the University of Nebraska-Lincoln and has also received the Certified Management Accountant (CMA) designation. Jester has served as president of the Nebraska chapter and treasurer of the North Central Regional Council of the Institute of Management Accountants and on the Isco Inc. Board of Directors. He previously served on the board of the Groundwater Foundation and on the University of Nebraska-Lincoln School of Accountancy Board of Trustees. In addition to the Food Bank of Lincoln, he presently serves on the board of the St. Paul United Methodist Church Foundation. Jester is a member of both the Nebraska Society of CPAs and the AICPA. Anthony J. “Tony” Keller has become a partner of O’Donnell Ficenec Wills & Ferdig LLP (OFWF) in Omaha. Keller attendedWayne State College for two years before transferring to theUniversity of Northern Iowa, where he graduated with honors. He started with OFWF in July 2000 and helps the firm’s clients plan and understand tax and financial transactions to assist them in running and growing their businesses. Keller also has expertise in auditing, specifically governmental accounting and auditing. He is a member of both the Nebraska Society of CPAs and the AICPA. Two Nebraskans Receive Elijah Watt Sells Award The American Institute of CPAs (AICPA) has announced the winners of the 2021 Elijah Watt Sells Award. To qualify, CPA candidates must obtain a cumulative average score above 95.50 across all four sections of the Uniform CPA Examination, pass all four sections on their first attempt, and have completed testing in 2021. More than 72,000 individuals sat for the CPA Exam in 2021, with only 57 candidates meeting the criteria to receive the Elijah Watt Sells Award! Two of the 57 award winners are Creighton University graduates: • Colin M. Fitzgerald (Nebraska), a graduate of Creighton University with a Bachelor of Science in Business Administration in Accounting and a Master of Accounting, is employed with Seim Johnson LLP in Elkhorn. • Scott Haveman (Colorado), a graduate of CreightonUniversitywith a Bachelor of Science in Business Administration in Accounting and Finance and Master of Accounting, is employed with Deloitte in Dallas. Both Fitzgerald and Haveman are graduates of the first accelerated Master of Accounting program at Creighton University—and were roommates as well. “Passing the CPA Exam is a career milestone,” said AICPA Vice President, CPA Examination and Pipeline, Mike Decker. “Winning the ElijahWatt Sells Award is a very impressive accomplishment. We congratulate these candidates for their exceptional performance, with this honor that very few individuals achieve.” The Elijah Watt Sells Award program was established by the AICPA in 1923 to recognize outstanding performance on the CPA Exam. Sells, one of the first CPAs in the U.S., was active in the establishment of the AICPA and played a key role advancing professional education within the profession. Readmore at https:// bit.ly/ElijahWattSellsAward2021. I S S U E 3 , 2 0 2 2 22 nebraska cpas
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