IRS Stops Employee Retention Credit Processing
On September 14th, the IRS announced that they will stop processing any new Employee Retention Credit (ERC) claims filed until at least the end of the year. This decision comes amid rising concerns about a flood of improper claims, putting honest small business owners...
Plan Sponsor Alert: DOL Enforcement Activity Expected to Increase in 2023
In 2022, the Employee Benefits Security Administration (EBSA) saw a significant decrease in enforcement actions for the second consecutive year. In total, the EBSA recovered $1.4 billion for plans, participants, and beneficiaries in 2022—down from $2.4 billion in 2021...
Nebraska Pass-Through Entity Tax (PTET) Election
Phillip Oman, CPAManager | HBE LLPBrian Klintworth, CPA, MTPartner | HBE LLPReducing Federal Tax Liability for Nebraska Business Owners September 7, 2023 -- On May 31, 2023, Governor Jim Pillen signed LB754 into law. Among many other tax provisions in this bill,...
Navigating Challenges and Opportunities in the Manufacturing Industry
Written by, James D. Schulz, CPA, CVA, MTPartner | HBE LLPAugust 18, 2023 - The past few years have posed unique challenges and opportunities for small businesses across various industries, and the manufacturing industry is no exception. While the industry is expected...
How Nebraska’s New Tax Credits Can Benefit Families
Written by, Zachary N. Fowler, CPASenior Accountant LB754, recently passed by the Nebraska State Legislature, contains two potentially valuable tax credits for Nebraska families, including low-income families, beginning in 2024. To qualify for the credits, taxpayers...
Guide to Protesting Your Property Valuation
Written by, James D. Schulz, CPA, CVA, MTPartner | HBE LLPJune 20, 2023 -- As home prices continue to rise, many Nebraska homeowners may have seen an increase in their 2023 property valuations. However, if you do not agree with your home's assessment, you can take...
Inflation Reduction Act: Costs and Benefits for Real Estate & Construction
The Inflation Reduction Act’s (IRA’s) expansion of key energy efficiency tax incentives – such as the 179D energy efficient commercial buildings deduction and the 45L new energy efficient home credit – is anticipated to have a significant impact on real estate and...
Nebraska Introduces PTET Law and Lowers Income Tax Rates
Written byBrian M. Klintworth, CPA, MTPartner | HBE LLPJune 1, 2023 -- On May 31, Nebraska Governor Jim Pillen signed LB754 into law. This bill enacts several tax reforms, including the Pass-Through Entity Tax (PTET) and lowering the income tax rate for the state's...
Attention HBE Clients: Is your Tax Return on Extension?
Written byBrian M. Klintworth, CPA, MTPartner | HBE LLPTax extensions are a great tool to give you extra time to gather your documents, and assist when you are waiting for information that flows into your return, or when there is added complexity to your tax return....
What’s Your True Net Worth?
Written by David BoothChairman and FounderDimensionalWhat's Your True Net Worth? Many apps today claim to instantly calculate your net worth by adding up your banking and investment accounts and then deducting what you owe on your credit cards and mortgage. But in my...