NE Tax & Accounting Services
Kurt Simmons CPA provides comprehensive tax and financial services to individuals and businesses throughout Nebraska (NE). With its financial services center and agribusiness hub, we understand the unique financial landscape that comes with doing business in Nebraska.
Under the CPA Mobility Act, our CPA — licensed in Maryland, Delaware, and Florida — is authorized to provide the full range of attestation, tax, and advisory services to Nebraska clients without the need for an additional state license. This means Nebraska individuals and businesses receive the same comprehensive service as our home-state clients: financial statement audits, tax strategy, IRS representation, virtual CFO services, and every other service we offer — delivered through our technology-forward, virtual-first practice model.
CPA Services Available in Nebraska (NE)
NE Individual Tax Preparation
Comprehensive federal and Nebraska state tax return preparation, including complex returns with investments, rental properties, and self-employment income.
Learn More →NE Business Tax Services
Tax preparation and planning for Nebraska-based businesses including S-Corps, C-Corps, partnerships, LLCs, and sole proprietorships.
Learn More →NE Cryptocurrency Tax
Specialized crypto tax services for Nebraska investors and traders. DeFi, NFTs, staking rewards, and exchange reporting handled with expertise.
Learn More →NE Trader Tax Services
Mark-to-market elections, wash sale tracking, and tax optimization strategies for active traders in Nebraska.
Learn More →NE IRS Resolution
Professional representation before the IRS for Nebraska taxpayers facing audits, collections, liens, levies, or offers in compromise.
Learn More →NE 83(b) Elections
Equity compensation planning and 83(b) election filing for Nebraska startup employees and founders receiving restricted stock.
Learn More →NE Financial Statement Audits
Full-scope GAAS-compliant financial statement audits for businesses, nonprofits, and organizations requiring independent assurance.
Learn More →NE Review Engagements
Limited assurance engagements providing meaningful confidence in financial statements for lender requirements and stakeholder reporting.
Learn More →NE Compilations
Professionally prepared financial statements from management-provided data for internal reporting, small business needs, and bank presentations.
Learn More →NE Agreed-Upon Procedures
Targeted, customized engagements designed to address specific areas of concern with flexible scope tailored to stakeholder needs.
Learn More →NE Employee Benefit Plan Audits
DOL-compliant audits for 401(k), pension, and employee benefit plans meeting ERISA filing requirements and fiduciary obligations.
Learn More →NE Tax Strategy & Advisory
Proactive, year-round tax planning that identifies savings opportunities. Entity structure optimization, multi-state planning, and strategic initiatives.
Learn More →NE Cost Segregation Studies
Engineering-based analysis to accelerate depreciation deductions on commercial and residential rental properties, maximizing cash flow.
Learn More →NE Virtual CFO Services
Fractional CFO capabilities including financial modeling, cash flow management, KPI dashboards, and strategic financial leadership.
Learn More →NE Business Consulting
Operational assessments, process improvement, internal control design, and strategic planning to drive efficiency and profitability.
Learn More →NE Estate & Succession Planning
Comprehensive estate planning, business succession strategies, and wealth transfer optimization for business owners and high-net-worth individuals.
Learn More →NE Capital Markets Advisory
Securities compliance, FINRA regulatory guidance, and capital markets advisory for businesses navigating public offerings, private placements, and broker-dealer requirements.
Learn More →Nebraska Audit Services in Detail
Nebraska businesses, nonprofits, federal contractors, and benefit plan sponsors typically need an independent audit when state law, federal rules, lenders, grantmakers, or boards require external assurance. We perform GAAS-compliant attest engagements scoped to the specific assurance need — most commonly:
Offutt AFB STRATCOM & Federal Contractor Audits
Nebraska hosts Offutt Air Force Base (Bellevue — headquarters of U.S. Strategic Command (STRATCOM), which oversees U.S. nuclear deterrence and global strike capabilities; also home to the 55th Wing, RC-135 reconnaissance aircraft, and the National Airborne Operations Center). Offutt anchors a substantial defense and federal contracting ecosystem in eastern Nebraska. We support Offutt and STRATCOM contractors with GAAS-compliant audits, indirect rate calculations and DCAA-compliant accounting systems, Cost Accounting Standards (CAS) compliance, and audits prepared for security-cleared business operations.
Nebraska Nonprofit Audits
Audited financial statements for NE charities are routinely required by major Nebraska funders — including the Peter Kiewit Foundation, the Robert B. Daugherty Foundation, the Sherwood Foundation (Susan Buffett), the Lozier Foundation, the Mid-America Council, the Omaha Community Foundation, the Nebraska Community Foundation, the United Way affiliates, and federal subrecipient grantors.
Nebraska 401(k) & Employee Benefit Plan Audits
Nebraska plan sponsors filing Form 5500 generally require an ERISA-compliant audit when the plan has 100 or more participants with account balances at the start of the plan year. We perform full-scope and §103(a)(3)(C) limited-scope benefit plan audits for 401(k), 403(b), and defined-benefit plans across Nebraska, including plans sponsored by Berkshire Hathaway (Omaha) and its operating subsidiaries (BNSF Railway, GEICO, Berkshire Hathaway Energy, MidAmerican, Nebraska Furniture Mart, Borsheims, Oriental Trading, Justin Brands, Berkshire Hathaway HomeServices, etc.), Union Pacific Railroad (Omaha — one of the largest U.S. railroads), Mutual of Omaha (insurance), Werner Enterprises (Omaha — major trucking), Kiewit Corporation (Omaha — one of the largest U.S. private construction firms), Tenaska (Omaha — energy), First National Bank of Omaha, Valmont Industries (Omaha — irrigation, infrastructure), Cabela's historical Sidney, and University of Nebraska Medical Center (UNMC).
Nebraska Single Audits (Uniform Guidance)
Nebraska nonprofits, counties, school districts, and pass-through subrecipients that expend $1,000,000 or more in federal awards in a fiscal year are subject to the Single Audit requirements of 2 CFR Part 200.
Nebraska Lender, Bonding & Investor Audits
Nebraska banks (First National Bank of Omaha, Pinnacle Bank, NebraskaLand National Bank), surety companies, and Nebraska-based agricultural lenders frequently require audited financial statements as a condition of credit facilities, surety capacity, or capital raises.
Nebraska Reviews & Compilations
Where a full audit is not required, we deliver review engagements (limited assurance) and compilations (no assurance) — both routinely accepted by Nebraska lenders and stakeholders requiring CPA-prepared financial statements.
Nebraska (NE) Tax & Business Landscape
Key Nebraska Tax Numbers. Personal income tax: graduated, top rate 5.84% (TY2024) statutorily phasing to 3.99% by tax year 2027 under LB 754 reform. Corporate income tax: top rate similarly phasing down to 3.99% by 2027. Sales and use tax: 5.5% state, plus city; combined often 7%–8%. Nebraska fully exempts Social Security income from state tax (effective TY2024). Nebraska is one of only six states with an inheritance tax, and uniquely, the inheritance tax is administered at the county level (not the state level) with rates and exemptions varying by the heir's relationship to the decedent. Pass-through entity (PTE) elective tax: rate matches personal IT, available since tax year 2018.
Filing Mechanics. Individuals (residents and nonresidents/PY) file Form 1040N. C-corporations file Form 1120N. Partnerships file Form 1065N; S-corps file Form 1120-SN. PTE election is made on partnership/S-corp returns. Returns are due April 15 and administered by the Nebraska Department of Revenue.
Nebraska's Unique County Inheritance Tax. Nebraska is one of only six U.S. states with an inheritance tax (joining IA — recently repealed effective 2025, KY, MD, NJ, PA), and uniquely, Nebraska's tax is administered at the county level rather than at the state level. Three classes apply: Class 1 (immediate relatives — surviving spouse exempt; children/parents/siblings: 1% above $100,000 exemption per heir), Class 2 (more distant relatives: 11% above $40,000 exemption), and Class 3 (unrelated heirs: 15% above $25,000 exemption). Recent reform legislation has increased exemptions and reduced top rates from prior levels. We handle Nebraska inheritance tax planning and county-level filings for estate-planning clients.
Berkshire Hathaway, Union Pacific & the Omaha Corporate Cluster. Omaha hosts a remarkable concentration of Fortune 500 corporate headquarters: Berkshire Hathaway (Warren Buffett's holding company — owner of BNSF Railway, GEICO, Berkshire Hathaway Energy, See's Candies, Dairy Queen, Nebraska Furniture Mart, Borsheims, Oriental Trading, plus equity stakes in Apple, Coca-Cola, Bank of America, etc.), Union Pacific Railroad (one of the two largest U.S. Class I railroads), Mutual of Omaha (insurance and financial services), Werner Enterprises (major trucking), Kiewit Corporation (one of the largest U.S. private construction firms), Tenaska (independent power), Valmont Industries (irrigation, infrastructure), and the legacy TD Ameritrade headquarters (now part of Charles Schwab). We support executive comp issues at all of these — Berkshire's relatively unique non-RSU compensation philosophy, Union Pacific RSU/PSU vesting, Mutual of Omaha NQDC plans, Werner Enterprises trucking compensation, and Kiewit's substantial private-company employee equity arrangements.
Nebraska Agriculture & the Beef/Corn Belt. Nebraska is the #1 U.S. beef-producing state (over 6 million cattle on feed at any given time; major feedlots in central and western NE) and the #2 corn-producing state. Nebraska is also a major soybean, sorghum, and ethanol producer (multiple ethanol plants operated by Cargill, Green Plains, ADM, and farmer cooperatives). Nebraska farmers and feedlot operators face Schedule F reporting, livestock depreciation, deferred grain contracts, IRC §1301 farm income averaging, ethanol cooperative patronage dividends (§199A(g)), §45Z biofuel credits, and the unique Nebraska Center-Pivot Irrigation tax issues (Valmont's Valley irrigation systems are the dominant technology, originally invented in Nebraska).
Nebraska Economy & Who We Serve. Nebraska's economy spans insurance and finance (Berkshire, Mutual of Omaha, First National Bank of Omaha), railroads and logistics (Union Pacific, BNSF — North Platte's Bailey Yard is the largest rail yard in the world), trucking (Werner Enterprises), construction and engineering (Kiewit), agriculture (#1 beef, #2 corn, soybeans, ethanol), manufacturing (Valmont irrigation, Lindsay Corp irrigation, Behlen Manufacturing), military and federal (Offutt AFB STRATCOM HQ), and healthcare and education (UNMC, Methodist, CHI Health, University of Nebraska). Our typical NE clients include Omaha corporate executives (Berkshire, UP, Mutual), Offutt military and federal contractor families, Nebraska feedlot and corn operators, Lincoln state-government and UNL professionals, real estate investors, and high-net-worth families navigating Nebraska's unique inheritance tax.
CPA Mobility in Nebraska. Nebraska has adopted CPA mobility provisions under the Uniform Accountancy Act. Kurt Simmons holds active CPA licenses in Maryland, Delaware, and Florida, and we confirm all applicable Nebraska Board of Public Accountancy mobility and firm registration requirements before commencing any engagement.
Cities and Communities We Serve. Our virtual-first practice serves clients across all of Nebraska, including Omaha (largest city; Berkshire, Union Pacific, Mutual of Omaha, Werner, Kiewit), Lincoln (state capital; UNL — University of Nebraska-Lincoln), Bellevue (Offutt AFB — STRATCOM HQ), Grand Island, Kearney (UNK), Fremont, Norfolk, Hastings, North Platte (Union Pacific Bailey Yard), Scottsbluff, Columbus, La Vista, Papillion, the Sandhills, the Panhandle, and every Nebraska county.
Why Nebraska Clients Choose Us
- GAAS-compliant audit, review, and compilation experience for nonprofits, federal contractors, benefit plans, and privately held businesses
- Deep expertise in NE-specific issues: Nebraska's individual/corporate phase-down to 3.99% by 2027 (LB 754), NE PTE elections, Nebraska's unique county-level inheritance tax (Class 1/2/3 rates), Berkshire Hathaway / Union Pacific / Mutual of Omaha / Werner / Kiewit executive compensation, Offutt AFB STRATCOM federal contractor accounting (CAS, DCAA), and Nebraska beef and corn agriculture tax
- Capital markets background — Kurt Simmons has passed the Series 65 examination (Passed; not currently held as an active license) in addition to holding the CPA
- Specialized practices in cryptocurrency taxation, active trader tax, and 83(b) elections for NE Omaha/Lincoln tech-startup employees
- Technology-forward, virtual-first delivery — secure client portal, e-signature, and video consultations
- Transparent, fixed-fee engagements where possible — no surprise hourly invoices
Nebraska CPA — Frequently Asked Questions
Do I need a Nebraska-licensed CPA?
Nebraska has adopted CPA mobility provisions under the Uniform Accountancy Act. Kurt Simmons holds active CPA licenses in Maryland, Delaware, and Florida, and we confirm any applicable Nebraska Board of Public Accountancy firm-registration requirements before commencing attest engagements.
What is Nebraska's income tax rate?
Nebraska's individual income tax has a top rate of 5.84% (TY2024) and is statutorily phasing down to 3.99% by tax year 2027 under LB 754 reform. The NE corporate income tax is similarly phasing down to 3.99% by 2027. Form 1040N is due April 15, and Nebraska also fully exempts Social Security income from state tax (effective TY2024).
What is Nebraska's county-level inheritance tax?
Nebraska is one of only six U.S. states with an inheritance tax — and uniquely, Nebraska's inheritance tax is administered at the county level (not the state level), with rates and exemptions varying by the heir's relationship to the decedent. Class 1 (immediate relatives — spouse exempt; children/parents/siblings: 1% above $100,000), Class 2 (more distant relatives: 11% above $40,000), and Class 3 (unrelated: 15% above $25,000). Recent reforms have increased exemptions and reduced top rates. We handle Nebraska inheritance tax planning and county-level filings for estate-planning clients, including coordination with the federal estate tax and trust planning.
Does Nebraska have a SALT-cap workaround?
Yes. Nebraska enacted an elective Pass-Through Entity Tax. Eligible S-corps and partnerships pay an entity-level tax at the top individual rate on Nebraska-source taxable income, and members receive a corresponding credit on Form 1040N.
I work at Berkshire Hathaway, Union Pacific, or Mutual of Omaha. What special tax issues apply?
Omaha hosts Berkshire Hathaway HQ, Union Pacific Railroad HQ, Mutual of Omaha HQ, Werner Enterprises HQ, and Kiewit HQ — concentrating substantial executive compensation activity. We handle the issues common to Omaha executive employees: Berkshire's relatively unique non-RSU compensation philosophy, Union Pacific RSU and PSU vesting tax planning, Mutual of Omaha and other insurance NQDC plans (§409A), Werner Enterprises trucking compensation, Kiewit's substantial private-company employee equity arrangements, §162(m) executive compensation limits, ESPP qualifying vs. disqualifying disposition planning, and the multi-state issues facing Union Pacific employees with rail operations across the western U.S.
I'm a Nebraska feedlot or corn operator. What special tax issues apply?
Nebraska is the #1 U.S. beef state and #2 corn state. Specialized issues include Schedule F farm reporting, livestock depreciation under MACRS (5-year for breeding cattle; cost-basis tracking through feeder cattle cycle), deferred grain contracts, custom feeding income, IRC §1301 farm income averaging, ethanol cooperative patronage dividends under §199A(g), §45Z biofuel production credits (under IRA 2022), and center-pivot irrigation depreciation/§179 planning (Valmont's Valley irrigation is the dominant Nebraska technology).
Do you serve Nebraska clients outside Omaha?
Yes. Our practice is virtual-first, so we serve clients across all of Nebraska — including Omaha (Berkshire, Union Pacific, Mutual of Omaha, Werner, Kiewit), Lincoln (state capital; UNL), Bellevue (Offutt AFB — STRATCOM HQ), Grand Island, Kearney (UNK), Fremont, Norfolk, Hastings, North Platte (Union Pacific Bailey Yard — world's largest rail yard), Scottsbluff, Columbus, La Vista, Papillion, the Sandhills, the Panhandle, and rural Nebraska's beef and corn communities.