26 17 C O N T E N T S 6 ©2023 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, 2023 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 6 Society Leaders Visit Capitol Hill By Joni Sundquist, Nebraska Society of CPAs 10 Who Are the Best Buyers When Selling an Accounting Practice? By Accounting Practice Sales 12 Relief for Inadvertently Invalid S Elections, QSub Elections, and Terminations By Katie R. Wunderlich & Hannah Fischer Frey, Baird Holm LLP COUNSELOR’S CORNER 15 Recent Updates to Nebraska Inheritance Tax Laws By James A. Tews & Nicholas W. O’Brien, Koley Jessen 17 What Can We Expect From GASB in the Second Half of 2023? By Joel Black, Chairman, Governmental Accounting Standards Board STATE TAX BRIEFING 19 2023 Nebraska Tax & Incentive Legislative Update Nebraska Makes a Move to Improve Its Competitive Business Climate By Nick Niemann & Matt Ottemann, McGrath North Law Firm DONOR ADVISED FUNDS & PRIVATE FOUNDATIONS 24 Questions to Ask Clients Interested in Charitable Giving By Tessa Barney, Omaha Community Foundation PRACTICE PERSPECTIVES 26 Where Are Your CPAs Going, Exactly? By Art Kuesel, Kuesel Consulting 28 2023 NESCPA Course Calendar 30 Members in the News 31 Firms in the News 33 Congratulations! 2023 Communicator Award Winner! 34 Welcome New Society Members!
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