Julie D. Bauman, CPA, P.C.

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If your C corporation traditionally makes deductible charitable gifts, make sure you know the rules for 2026 donations. ...
07/10/2026

If your C corporation traditionally makes deductible charitable gifts, make sure you know the rules for 2026 donations. Starting Jan. 1, 2026, corporations can only deduct charitable gifts in excess of 1% of the company’s taxable income, with a 10% of income cap. Amounts exceeding the 10% cap can be carried forward — as can amounts that aren’t currently deductible due to the 1% floor — for up to five years. You may want to execute a multiyear charitable deduction strategy if your company’s income varies from year to year. Contact us at (402) 245-4040. We can help by projecting income and other deductions so you can support your community while maximizing long-term tax benefits.

Business owners and self-employed individuals who use their vehicle for business may be able to deduct auto-related expe...
07/08/2026

Business owners and self-employed individuals who use their vehicle for business may be able to deduct auto-related expenses. But if a vehicle (including a car, van, pickup or panel truck) is used both for business and personal purposes, the expenses must be split based on mileage. These rules apply to both owned and leased vehicles. There are two methods for calculating auto expenses: actual expenses and the standard mileage rate. Both require careful recordkeeping, though using the mileage rate is generally easier. Contact us at (402) 245-4040 to determine which method makes sense for your situation.

Tax planning requires more than preparing returns at filing time. We work with individuals and businesses throughout the...
07/07/2026

Tax planning requires more than preparing returns at filing time. We work with individuals and businesses throughout the year to identify tax-saving opportunities, address compliance requirements and respond to changing tax laws. Call us at (402) 245-4040 to schedule an appointment to discuss your tax needs.

Monthly financial statements are essential. But they often take weeks to prepare and may arrive after you’ve already mad...
07/06/2026

Monthly financial statements are essential. But they often take weeks to prepare and may arrive after you’ve already made critical business decisions. Flash reports can help bridge that gap by providing real-time snapshots of critical metrics — such as cash balances, collections and payroll. These reports provide timely insight into financial performance, allowing you to identify emerging issues before they become major problems. Because flash reports are preliminary, you should use them as management tools, not formal financial statements. Call us at (402) 245-4040 to discuss how customized flash reports can help your business make faster, more informed financial decisions.

Home renovations can improve a residence’s comfort, functionality, aesthetics and resale value. They might also provide ...
07/03/2026

Home renovations can improve a residence’s comfort, functionality, aesthetics and resale value. They might also provide tax benefits. You may be able to deduct mortgage interest on debt used to substantially improve your home. Certain improvements can also increase your tax basis, potentially reducing taxable gain when you sell. Medically necessary modifications may qualify as deductible medical expenses, subject to limits. And if you overlooked claiming now-expired credits for qualifying energy-efficient home improvements you made in 2025, an amended return may be worth considering. Call us at (402) 245-4040 to talk taxes before or after a home renovation.

Applying for a business loan can feel like a catch-22. On one side of the desk is the risk-averse lender, who’s willing ...
07/01/2026

Applying for a business loan can feel like a catch-22. On one side of the desk is the risk-averse lender, who’s willing to loan money only to successful business owners. On the other side is the business owner, who needs the funds to grow and be successful! To avoid this paradox, approach a loan as a partnership rather than a provider-customer interaction. After all, if you were going into business with someone, you’d want to clearly understand their vision for the venture. Contact us at (402) 245-4040 for help effectively presenting your business plan and financials to prospective lenders.

A donor-advised fund (DAF) is one option available to support charities while reducing your taxable estate. By contribut...
06/30/2026

A donor-advised fund (DAF) is one option available to support charities while reducing your taxable estate. By contributing cash or appreciated assets to a DAF, you also may qualify for an immediate charitable income tax deduction without needing to identify the specific charitable recipients right away. This gives you more time to research potential recipients or change the organizations you support from year to year. For families focused on legacy planning, DAFs can also help align heirs around charitable goals. Contact us at (402) 245-4040 for additional details.

Does your business use independent contractors? The reporting requirements for these workers differ from those for W-2 e...
06/29/2026

Does your business use independent contractors? The reporting requirements for these workers differ from those for W-2 employees. For payments made in 2026, businesses generally must issue Form 1099-NEC, “Nonemployee Compensation,” to contractors paid $2,000 or more (up from $600 for 2025). The higher threshold may reduce your administrative burden because you could have fewer forms to file with the IRS. However, it doesn’t change your recordkeeping, worker classification or backup withholding responsibilities. Contact us at (402) 245-4040 to help ensure you’re prepared for the updated reporting requirements.

Final regulations released by the IRS stipulate that partnerships no longer need to provide detailed gain and loss infor...
06/26/2026

Final regulations released by the IRS stipulate that partnerships no longer need to provide detailed gain and loss information to selling partners by January 31. This deadline had become a contentious issue. The tax code requires that any portion of a partnership’s sale proceeds attributable to the partner’s share of unrealized receivables and inventory items be reported as ordinary income. Other sale proceeds are generally taxed as capital gains. But partnerships complained that the reporting deadline was hard to meet. Now, partnerships can provide such information to partners according to their natural end-of-year tax compliance cycle, on or with Schedule K-1. Contact us at (402) 245-4040 to discuss this and other tax filing requirements for partnerships.

Business owners: If you’re only reaching out at tax time, you may be missing some valuable insights. Why stop at tax fil...
06/24/2026

Business owners: If you’re only reaching out at tax time, you may be missing some valuable insights. Why stop at tax filings? Let us help you make smarter business decisions year-round — from improving cash flow to navigating economic uncertainty to planning for growth. Please call us at (402) 245-4040 to learn more about how we can support your strategic goals.

Address

2020 Harlan Street
Falls City, NE
68355

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm

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