22 16 C O N T E N T S 10 ©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 1, 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 6 Advancing the Profession Through Advocacy & Innovative Solutions By Joni Sundquist, Nebraska Society of CPAs 8 Charitable Giving What Financial Advisors Should Know in 2024 By the Omaha Community Foundation 10 It Takes Two Making the Transition Work By Accounting Practice Sales 12 IRS Announces Settlement Programs for ERC Consider Your Audit Risk By Jesse D. Sitz & Morgan L. Kreiser, Baird Holm LLP STATE TAX BRIEFING 16 The Good Life Transformational Projects Act Nebraska’s New Incentive Driving Economic Development in the State By Nick Niemann & Matt Ottemann, McGrath North Law Firm 19 2024 Conferences & Special Events Mark Your Calendars for These Outstanding Opportunities! COUNSELOR’S CORNER 20 Corporate Transparency Act Reporting Required for Certain Nonprofit Organizations By Nicholas W. O’Brien & Kate C. Hughes, Koley Jessen 22 Why Working at a CPA Firm Is Phenomenal, and Why Students Should Major in Accounting By Marc Rosenberg, CPA 24 Members in the News 26 Firms in the News 28 Welcome New Society Members 30 In Memoriam 31 2024 NESCPA Advertiser Index Cover photo: "Cameron the Capitol Cat" poses on the steps of the Nebraska Capitol building in Lincoln. He has his own Facebook page and was recently featured in USA Today. 5 www.nescpa.org
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