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News
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June 10, 2010
Lutz & Company, PC Moves to Bank of the West Business Park
Omaha, NE – June 9, 2010
Lutz & Company, P.C., Nebraska’s largest locally owned accounting and consulting firm based in Omaha, has relocated its offices to larger quarters in the Nebraska Professional Center located in the Bank of the West Business Park at 13616 California Street, Suite 300. Lutz & Company chose its new location along the West Dodge Corridor to provide easy and convenient access for their clients and employees. The single floor, 30,000 square feet location, will allow the firm to more efficiently serve its clients and will also allow for future growth and expansion.
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April 1, 2010
Two New Tax Benefits to Aid Employers
IR-2010-33, March 18, 2010
The HIRE Act (Hiring Incentives to Restore Employment)
Employers who hire unemployed workers this year (after Feb. 3, 2010 and before Jan. 1, 2011) may qualify for a 6.2-percent payroll tax incentive, in effect exempting them from their share of Social Security taxes on wages paid to these workers after March 18, 2010. This reduced tax withholding will have no effect on the employee’s future Social Security benefits, and employers would still need to withhold the employee’s 6.2-percent share of Social Security taxes, as well as income taxes. The employer and employee’s shares of Medicare taxes would also still apply to these wages.
In addition, for each worker retained for at least a year, businesses may claim an additional general business tax credit, up to $1,000 per worker, when they file their 2011 income tax returns.
The new law requires that the employer get a statement from each eligible new hire certifying that he or she was unemployed during the 60 days before beginning work or, alternatively, worked fewer than a total of 40 hours for someone else during the 60-day period. The IRS is currently developing a form employees can use to make the required statement.
Household employers cannot claim this new tax benefit.
Employers claim the payroll tax benefit on the federal employment tax return they file, usually quarterly, with the IRS. Eligible employers will be able to claim the new tax incentive on their revised employment tax form for the second quarter of 2010. Revised forms and further details on these two new tax provisions will be posted on IRS.gov during the next few weeks.
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January 8, 2010
Lutz & Company, PC Recognized in the Midlands Business Journal
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January 8, 2010
Lutz & Company, PC Announces Manager Promotion
Lutz & Co. has promoted Jerad Knott to tax manager.
Knott, a CPA and tax manager holds a Bachelors of Science degree in business administration and economics from Hastings College and a MBA from the University of Nebraska Omaha.
He has more than five years of accounting experience. Knott specializes in state and local tax, along with corporate, partnership and individual tax. He also has additional knowledge and specializes in the construction industry.
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December 18, 2009
Hansen, Hoagland, Miller and Bruegger Join Lutz & Company, PC
Lutz & Co. has added Bo Hansen, Chris Hoagland, Shawn Miller and Jeri Bruegger to its office.
Hansen and Hoagland have joined the audit team. Hansen has his both his bachelor and master’s degrees from the University of Nebraska – Lincoln. Hoagland has his bachelor’s degrees from the University of Nebraska – Omaha.
Bruegger and Miller have joined the tax team. Bruegger has her bachelor’s degree in accounting from the University of Nebraska – Omaha. Miller has his bachelor’s degree in accounting from the University of Nebraska – Omaha.
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October 13, 2009
Lutz & Company, PC Offers New Volunteer Assistance Program for Not-for-Profits
Lutz & Company, PC is excited to introduce a new program called the employee LOAN Program (Lutz Offers Assistance to Not-for-Profits). Through the LOAN program, Lutz is offering the use of their professionals at no charge to not-for-profit organizations in the Omaha and surrounding areas to assist with their short-term business and accounting needs.
Not-for-profit organizations may apply for business and accounting assistance by completing a short online application at http://www.lutzcpa.com/loan.html. Questions may be directed to Stephanie Hand at 402.496.8800 or shand@lutzcpa.com.
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August 18, 2009
Lutz & Company, PC Announces Senior Accountants
Omaha, NE – August 18, 2009
Lutz & Company, P.C., a leading Omaha, Nebraska based CPA firm, has promoted Jordan Klute, Angela Miller, Michell Houseton and Joseph Hartman to senior accountants.
Jordan Klute is a CPA with over three years of experience and is a part of the Lutz & Company’s tax team. He has a BSBA in accounting and finance from Creighton University. He specializes in consulting services, focusing on business valuations, management advisory services, litigation support, mergers and acquisitions and fraud protection, along with tax services, focusing on tax planning and preparation, estate and succession planning and transactional consulting.
Angela Miller is a CPA on the audit team and specializes in benefit plan, not-for-profit audits, reviews and compilations. She has over three years of experience and graduated with a BSBA in accounting from Creighton University in Omaha, NE.
Michell Houeston has been a member of the client accounting services team for six years. She specializes in small business and automation consulting, along with payroll and bookkeeping services. She holds a Bachelor of Arts degree in accounting from Buena Vista University and has been with Lutz & Company for over nine years.
Joseph Hartman is a member of audit team and over three years of experience. He specializes in audit, reviews and compilations along with employee benefit plans. He also helps prepare business and individual tax returns. Hartman has a bachelor degree in accounting from the University of Nebraska and a bachelor degree in mathematics from Wayne State College.
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August 11, 2009
Lutz Financial Announces Manager Promotion
Lutz Financial, a SEC Registered Investment Advisor and an affiliate of Lutz & Company P.C., a leading Midwest CPA firm has promoted Stacie Kinnison to operations manager.
Kinnison holds a bachelor’s in science degree from Iowa State University. She has over 12 years of experience. Kinnison designs and implements operating procedures and system enhancements to improve client service, processing and operational efficiency for Lutz Financial. She oversees training and development of operations staff and quality control to ensure accuracy. Kinnison also manages processes and ensures compliance with internal and external guidelines, policies and regulations relating to investment operations.
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August 11, 2009
Lutz & Company, PC Announces Manager Promotion
Lutz & Company, P.C., a leading Omaha, Nebraska based CPA firm, has promoted Erin Baas to client accounting services and healthcare consulting manager.
Erin Bass, a CPA and client accounting services and healthcare consulting manager is a graduate of Creighton University in Omaha, NE. She has over six years of accounting experience. Baas specializes in small business accounting and advisory services, new business consulting and assistance with software implementation and training and healthcare and medical practice consulting. She is a member of the American Institute of Certified Public Accountants and Nebraska Society of Certified Public Accountants.
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May 20, 2009
President Obama's 2010 Budget Tax Proposals
The Obama Administration recently released further details of the fiscal year 2010 budget proposal that was outlined in February. Most of the proposals would be effective in 2011. Following are some of the key points in the proposed budget:
Individual Income Tax
- Top regular individual income tax rate will revert to 39.6% for taxable income exceeding $250,000 ($200,000 for singles).
- Capital gains and dividends will be taxed at 20% versus 15%.
- Itemized deductions will be limited to a 28% deduction even if the taxpayer is in the 39.6% bracket.
- Exemption phase-out and 3% itemized deduction phase-out will be reinstated.
Estate and Gift Tax
- Eliminate or modify discounts for family controlled entities. This would impact discounts on family partnerships and other family controlled entities for gift and estate tax purposes.
- Require 10 year minimum period for Grantor Retained Annuity Trusts (GRAT). A lot of current GRAT's have 2-3 year terms.
- Estate tax rate will remain at 45% and exemption will remain at $3.5 million per person.
Other
- Permanently extend the R&D credit which is currently set to expire at 12/31/09.
- Require all partnerships and corporations with a Schedule M-3 to efile.
- Require tax return preparers who file more than 100 tax returns to efile all individuals, estates and trusts. This is similar to the new law in Nebraska.
- Tax partnership "carried" interests as ordinary income instead of capital gain.
If you have any questions, please contact us at 402.496.8800.
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Media Inquiries
Stacy Leners
sleners@lutzcpa.com
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