Iowa CPA - December 2023

December 2023

CPA

Newsletter from the Iowa Society of CPAs, your primary source for profession-related information

2024 state legislative session preview

As we prepare for the start of the 2024 legislative session on Jan. 8, ISCPA asked Legislative Counsel Brad Epperly, an attorney with Nyemaster Goode PC in Des Moines, to preview the coming year through a question-and-answer session.

T

he second session of the 90th General Assembly opens in January. As we prepare for this session, will the bills that survived the first session still be viable? How does this work?

Any bill filed during the 2023 session is still alive for the 2024 session. Bills that did not pass both chambers in identical form were returned to the committee of jurisdiction and will have to proceed through the respective committees to be floor eligible. If a bill passed out of one chamber, it only needs to pass out of the other chamber so long as it is not amended.

Are there any surviving bills that ISCPA needs to pay attention to?

Remarkably, there does not appear to be any viable legislation of consequence held over from the 2023 session.

Last session was one of the most active legislative sessions in recent memory. Major legislative initiatives were enacted starting with Education Savings Accounts, damages caps for medical malpractice and commercial motor vehicle lawsuits, property tax reform, government reorganization, youth employment reforms and changes to the Auditor of State.

Looking ahead, what should we expect to be the legislative priorities for the General Assembly in 2024?

Given the legislative productivity in the 2023 session, there have not been a lot of major issues discussed over the interim. There is a general desire by the Senate to continue to work on lowering Iowa’s income taxes, particularly individual income taxes. So, I would expect to see discussion in that area. Similarly, the Iowa Code contains a great deal of tax exemptions and credits passed when individual and corporate taxes were significantly higher. Given this, it is reasonable to expect exemptions and credits will continue to be evaluated and will receive significant scrutiny.

In 2023, Gov. Reynolds issued an executive order, which established a review of current administrative rules. Can you provide an update on the Red Tape Review and ISCPA’s involvement?

Although the initial review to propose revisions has been a fairly expedited process, ISCPA has had significant and productive engagement with the Iowa Accountancy Examining Board in the Red Tape Review process.

The Accountancy Board, Governor’s Office and the Attorney General’s Office reviewed all of the existing rules for Chapter 193A. Their goal was to streamline the rules by eliminating redundancies with the Iowa Code, strike any unnecessary provisions and simplify the structure. ISCPA formed a working group of members that reviewed and analyzed an initial draft from the Accountancy Board and provided written comments and recommendations. This is still at the initial stages and upon making a formal recommendation, the Accountancy Board will have to proceed with the required public notice of proposed rules changes and follow that process.

Continued on page 2

Iowa Society of CPAs ... Advancing the professional success of our members

Continued from page 1 The Boards and Commissions Review Committee was created as part of the state government alignment bill that was enacted into law last year. What is the status of the Committee’s work and what are the recommended changes to the Iowa Accountancy Examining Board?

The committee has completed its work and made recommendations to the Governor. Although the committee recommended eliminating or merging 111 of the 256 boards and commissions, there were only a few recommended changes proposed to the Accountancy Board. Those changes would be the elimination of the Licensed Public Accountant designated seat on the board and a reduction in the board overall from eight to five members, which would also eliminate a CPA and public member seat. All these changes will require legislation and we anticipate there will be one bill offered by the Governor’s Office for all.

Can you share with ISCPA members the importance of CPA Day at the Capitol?

Participation in CPA Day at the Capitol shows a committed level of engagement in the legislative process and provides visibility for the association. Taking time out of your schedule to come to the Capitol and interact with legislative leadership, legislators in your respective districts and the Auditor of State demonstrates that the CPA profession cares about the legislative process and makes valuable connections. As an association, we seek not only to facilitate legislation and rules to better our profession, but also to be a resource for legislators as they consider changes to our tax code.

Are there other opportunities for ISCPA members to engage in the legislative process?

Developing a relationship with legislators in your district can be very impactful. It starts by simply getting to know them by attending a forum in your local community. Legislators schedule these regularly during the legislative session and it is an easy way to introduce yourself in a relaxed environment. Out of session, legislators will hold periodic fundraisers in their districts. Attending one of these and making a modest donation to show your support is always appreciated and noticed. These types of basic engagements with legislators at a local level can help develop a personal relationship that may enable you to provide welcomed input to a legislator on a proposed bill.

Anything else ISCPA may want to consider as we prepare for next year?

Do not overlook the amount of information you have as a result of the various businesses you provide services to in your firms. CPAs are business consultants and advisors, and these current majorities are very focused on what they can do to grow the economy. In your conversations with your local legislators tell them what you are hearing from your clients. What is working and what is needed. You are a resource beyond the tax code.

ISSUE NO. 2023-12 Published 10 times per year by the Iowa Society of Certified Public Accountants (ISCPA).

Send address changes, advertising inquiries and all correspondence to: 1415 28th St., Ste. 450 West Des Moines, IA 5 0266

Email: iacpa@iacpa.org Website: www.iacpa.org or contact the ISCPA office: 515-223-8161 800-659-6375

2 | Iowa CPA | December 2023

CUSSION DIS+CO NVERSATION

Beneficial ownership information (BOI), ERC, 1099-K DEC. 11 | 9 A.M. | VIRTUAL| No CPE credit offered Join Carl Peterson, vice president of small firms at AICPA and Dawn Latham, ISCPA CEO, for an informal and engaging discussion about what’s going on in the profession. This DisCo Hour will focus on the timely topics of: • BOI under the Corporate Transparency Act (CTA). Effective Jan. 1, 2024, an estimated 32.6 million entities will be required to report information about their beneficial owners to FinCEN as part of the CTA • 1099-K reporting threshold delay and implementation • ERC updates The session will take place virtually to best accommodate members from across the state to join the discussion and conversation. Free to attend. Register at www.iacpa.org/disco.

www.iacpa.org

Advocacy success is member driven Legislative Leaders Program

Back the PAC

Subscribe to Take 5

The Legislative Leaders Program is a great opportunity for individuals to explore advocacy, boost expertise, and be a resource to help local legislators. With guidance from ISCPA, you will directly communicate information and talking points to legislators on issues important to the profession – a crucial role in supporting statewide ISCPA advocacy.

Younger CPAs are highly encouraged to consider this unique opportunity. Learn more at www. iacpa.org/advocacy/get-involved or contact Dawn Latham at dlatham@iacpa.org or 515985-7103.

Your financial contributions to the ICPA/PAC are disbursed to campaigns of candidates who understand our issues and support ballot initiatives or legislation that positively affect the profession. Learn more at www.iacpa.org/advocacy.

This members-only email briefing provides updates on regulatory and legislative issues affecting the profession. The special ISCPA Take 5 news brief is only distributed when the Iowa Legislature is in session.

Legislation Committee Join ISCPA’s Legislation Committee to discuss legislative priorities for the next legislative session.

The committee meets in August and submits its recommendations to the ISCPA board of directors for approval. Visit www.iacpa. org/committees to learn more.

ISCPA members and leaders who help coordinate and monitor our legislative and regulatory platforms

Dawn Latham ISCPA CEO

David Lester Legislation Committee co-chair

www.iacpa.org

Nate Beck Taxation Committee co-chair

Brad Epperly legislative counsel

Jason Less Taxation Committee co-chair

Dustin Miller legislative counsel

Marty Fredericks Legislation Committee co-chair

View members of ISCPA's legislation committee at www.iacpa. org/legislation

How to subscribe Access your member profile communications preferences on the ISCPA website at www. iacpa.org/my-cpa/subscriptions.

Under the “Advocacy” section, select the box for “Take 5 legislative news.”

Did You Know...

THERE IS A COMMUNITY FOUNDATION IN EACH COUNTY IN IOWA? To find your local community foundation or learn more about Endow Iowa Tax Credits, please visit our website or contact us:

www.IowaCommunityFoundations.org info@iowacounciloffoundations.org (515) 989-1188

Iowa CPA | December 2023 | 3

The complete guide to choosing the right CPE for you

W

hether you are newly licensed or have had the CPA designation after your name for decades, navigating your CPE requirements can feel like an added task on top of your daily workload. Taking some time to reframe, plan and engage with your CPE can make a big difference in your experience. Before you get started, though, let’s review the basics.

How much CPE do I need in Iowa?

First, make sure you're up to date with Iowa’s CPE requirements for license renewal. Iowa operates on a three-year reporting cycle. This means that every three years a licensed CPA must obtain 120 hours of CPE credit hours. You may self-elect December 31 or June 30 as the date by which your credits must be satisfied. There is no minimum number of hours required each year. You may complete as few or as many hours as desired each year as long as a minimum of 120 hours have been earned during the three-year period ending December 31 or June 30, preceding the July 1 renewal of your certificate or license.

What are the requirements and restrictions for the types of CPE Iowa CPAs can take?

While the reporting requirement offers flexibility when it comes to hitting 120 hours of CPE, there are a few stipulations set by the Iowa Accountancy Examining Board to keep in mind over the 3-year reporting cycle: •

4 hours need to be dedicated to ethics.

•

8 hours need to be dedicated to financial statement presentation (FSP), if applicable to the type of work you perform.

•

Only 60 hours (50%) can be completed through self-study courses.

•

Only 60 hours (50%) can be considered nontechnical credit hours.

How to make the most of your CPE experience Understanding the requirements is a large part of the process. But too often it’s easy to put off your CPE and make a final push to hit your reporting requirements as the year comes to an end. If this is you, you are not alone. With a multitude of options now thanks to virtual learning, you have so many more ways to

4 | Iowa CPA | December 2023

hit your hours. If you plan ahead, here is how you can revamp your approach to make the most of your CPE experience.

First, reframe your mindset. Earning your CPE is not just about compliance and checking it off the list.

Remember this is an opportunity to learn more about areas that interest you, can help you grow and can make a big impact on your career. You have worked hard for your license. CPE is your way to continue maintaining excellence and relevance.

Review your goals. What are your professional goals? Do you have a five-year plan? A vision for the next year? It’s time to sit down and map how CPE goes hand-in-hand with these goals. Take time to build out a plan of what skills you need to develop to make those goals happen and use that as your guide when reviewing your CPE options. Make sure you are regularly building learning into your calendar in some capacity.

Ask for direction from leadership. If you want to advance within your firm or organization, take time to talk with internal leaders for insight on upskilling and reskilling opportunities. Understanding the overall organizational goals and how they align with yours is crucial for selecting impactful CPE.

Explore your CPE options CPE comes in a wide range of categories and options, making it easy to tailor to your unique career situation. Let us look at some of the most common and popular subject areas: Accounting & Auditing and Ethics. Almost every CPA, no matter their location, is required to take CPE in these areas. As a result, you will find an abundance of options.

Taxation. Tax CPE covers everything from the basics of individual tax forms to need-to-know IRS updates.

Technology. Rapid transformation means staying on top of technology is critical. Factoring in CPE about technology into your 120 hours is smart for CPAs at every level, whether you are learning the ins and outs of Excel or want to learn more about cutting edge solutions that aid in auditing, tax or day-to-day operations.

Continued on page 5

www.iacpa.org

Continued from page 4 Cybersecurity. Cyber threats aren’t slowing down.

That’s why cybersecurity education is a rapidly growing area for CPAs. Understanding the basics of how you can protect your firm, organization and clients should be a priority item on every CPA’s list.

Data and Financial Reporting. As the profession shifts, CPAs are increasingly expected to be able to analyze data and provide effective data storytelling.

CPE focused on data and financial reporting will help you as the role of the CPA continues to shift.

Management. How can you grow as a leader in your organization? From managing multi-generational workforces to learning negotiation skills to improving communication, management courses help you navigate the challenges of the modern workplace for effective leadership.

General Professional Development. Every CPA needs strong soft skills to thrive. Gain presentation and communication skills, critical thinking and more that will help you thrive in the workplace every day.

CPE format also varies widely. Here are some of the pros and cons to consider when deciding between formats: Virtual live CPE/webinars: This comes with the benefit of no travel and the ability to enjoy right from your office or home. This format counts towards your live CPE hours. The drawback? Networking and connecting with others are not as easy as when you are face-to-face.

On-demand/self-study CPE: You can fit it into your schedule no matter what it looks like or where you’re located, but there’s no interaction with others and it also requires self-discipline to complete. If you’re easily distracted and have a hard time committing time for yourself, self-study CPE could be challenging. Remember, this format can only make up 50% of your total reporting hours.

In-person CPE: The classic option! In-person CPE — including roundtables, seminars and larger, all-day, or multi-day conferences — offers the most opportunity to connect with peers and the instructors. You also run the risk of less distraction (How many times does a colleague pop in with a question when you’re in the office? How often does the Slack or Teams notification go off?) which can boost your

experience. These options, though, require more coordination, whether it’s taking the afternoon off or traveling out of town.

The best learning plan incorporates a variety of subjects for a well-rounded experience, while also mixing up the formats. Invest in at least a few in-person experiences each year that can help you grow your network, another important skill for any professional.

Take advantage of ISCPA free CPE offerings Free CPE options—like those included with your ISCPA membership—have their place and can provide great quality learning. Free options are often introductory and cover basic overviews of topics.

Use this as a way to test out areas that pique your interest.

Consider the CPE provider Let’s face it, CPE quality can vary widely, especially now that virtual learning options are more abundant than ever. Make sure you’re taking CPE from reputable organizations. If you’ve never heard of the provider, be sure to do your research to make sure you’re getting accurate, quality information.

Choosing CPE from ISCPA’s extensive catalog at www.iacpa.org/cpe means you’re getting vetted options.

“We are dedicated to setting the gold standard in education at ISCPA. At the heart of our mission is the commitment of discovering and carefully selecting top-tier subject matter experts and instructors who bring insights on timely and relevant topics important to our members,” says Katie Shields, ISCPA senior director of learning and operations. “That commitment extends beyond tradition, as we explore and unveil new, innovative solutions designed to enhance your learning experience in cost-effective ways, like our Free Members-Only CPE Series, engaging in collaboration with CPA societies from neighboring states, and offering the flexibility and convenience of hybrid and virtual learning formats.”

As 2023 draws to a close and you begin envisioning your New Year goals, now is the perfect time to review and revamp your approach to CPE.

Reprinted with permission of the Indiana CPA Society

Note our holiday schedule The ISCPA office will be closed the week of Dec. 25-29 and Jan. 1 for scheduled holidays. The staff looks forward to answering your calls, emails and providing support to members again on Jan. 2. For questions on CPE access during our short break, refer to our website webcast resources www.iacpa.org/cpe/webcastresources.

www.iacpa.org

Iowa CPA | December 2023 | 5

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www.iacpa.org

Bonstrom and Latham attend AICPA conference ISCPA Vice Chair Erik Bonstrom (center left), partner with UHY LLP in West Des Moines, attended the AICPA and CPA/SEA Leadership Conference in Pasadena, California Oct. 16-17.

Erik had the opportunity to meet and connect with AICPA Vice Chair Carla McCall (left), AICPA President and CEO Barry Melancon (right) and other representatives from the American Institute of CPAs. ISCPA CEO Dawn Latham (center right) accompanied Erik to the conference which is designed to help incoming leaders from state CPA societies prepare for their year as chair. It also provides opportunities for these leaders to interact with one another and other state society directors.

Erik’s term as chair of ISCPA will begin May 1, 2024.

Nominate an industry CPA for award Do you know an Iowa CPA in business and industry who deserves recognition? We’ve extended the deadline for our Outstanding CPA in Business and Industry award nominations to Jan. 15. Let us know who should receive this ISCPA award to be presented at the 2024 Leadership Conference and Annual Meeting on May 2.

Outstanding CPA in Business and Industry: This award honors the achievements of an Iowa CPA in business and industry and promotes the CPA certificate as the preferred credential for business. Candidates are judged for having made a significant contribution to the growth and success of their employer or to a notable entrepreneurial achievement.

For more information and the nomination form, visit www.iacpa.org/cpa-awards. The form lists an October deadline, but nominations are now open until Jan. 15.

Do you like podcasts?

If you are a fan of podcasts, ISCPA offers informative podcasts by Ed Zollars on federal tax developments as well as episodes of the Accountable Podcast with Dave Peters for other industry topics. This members-only content is accessible at www.iacpa.org.

Find podcast episodes by navigating to the Resources tab, then click on News. Sign in as a member to access the podcast news listings. The latest podcasts can also be found on the ISCPA home page in the news section.

www.iacpa.org

Iowa CPA | December 2023 | 7

IDR updates - New alignment results in organizational changes

By Mary Mosiman, Iowa Department of Revenue Director

I

t had been nearly 40 years since Iowa has completed a comprehensive assessment of government operations and structure. Iowa’s per capita expenditures are higher than its neighboring states and states of similar population and/ or budget. Gov. Reynolds directed a thorough assessment of all executive branch departments to identify ways to improve organizational and operational alignment, elevate service to Iowans, and sharpen the state’s competitive edge.

control of the sale and distribution of alcoholic beverages. Other control states, such as Montana and Mississippi, house alcoholic beverage regulation in the Department of Revenue.

What’s the benefit for Iowans?

•

•

Alignment and changes to IDR The Iowa Department of Revenue (IDR) was aligned with the Iowa Lottery and the Alcohol Beverages Division (ABD). Both became divisions of IDR effective July 1. The department’s divisions now include: • Internal Services • Local Government Services • Legal Services and Appeals • Research and Policy • Tax Management • Alcohol Beverage • Lottery

Why align these three agencies?

• •

•

• •

These three agencies are the revenue generators for the State of Iowa.

All three agencies support businesses across all sectors. IDR has the operational infrastructure to align efficiently and effectively and support the unique service of Alcohol Beverage and Lottery operations.

These three agencies voluntarily united in 2021 using GovConnectIowa, a modernized customer portal that allows individuals and businesses to file and pay taxes, obtain permits, and manage their licensing requirements more easily.

Until 2003, Lottery was part of the Department of Revenue’s structure.

Iowa is a “control state” for alcoholic beverage regulation. This means that the state has direct

•

We can leverage shared services within human resources, accounting, and security, which allows for internal efficiencies and savings.

We can leverage various aspects of shared compliance and regulatory responsibilities for licensing and permitting which can improve coordination, streamline processes, and offer a more customer-focused experience.

IDR’s data analytics capabilities can be utilized across the aligned department for enhanced data-driven decision-making and performance outcomes.

We have several alignment integration steps that are yet to be completed and will be working on these throughout 2024. We want alignment to benefit the people we serve.

2023 tax season forms The IDR releases Iowa income tax form changes to a secure site for software developers and communicates these actions to the National Association of Computerized Tax Processors (NACTP), software developers, and other interested parties.

Changes to Iowa individual income tax forms were sent in a July 14 communication to NACTP and software developers. Changes to Iowa business income tax forms were sent in a Sept. 7 communication to NACTP and software developers.

Software developers were notified that the Iowa 1040 was released to the department’s secure site on Aug. 31. To allow time for development and testing prior to the start of tax filing season, the secure site was updated on Sept. 15 with several tax forms.

Continued on page 9

8 | Iowa CPA | December 2023

www.iacpa.org

Continued from page 8 A complete list of approved software vendors for e-Filing can be found on our website at https://tax. iowa.gov/irs-and-iowa-modernized-efile-mef. This site is updated regularly closer to the start of tax season.

Modernization of IDR’s tax system The 2023 tax year brings the third phase of a multiyear initiative aimed at modernizing Iowa’s tax system.

Individual income tax returns will be processed in our new system, and individual income taxpayers will have access to GovConnectIowa. GovConnectIowa is our secure online tax and licensing e-Services portal. This

third phase includes: • New features for individual income tax, fiduciary and inheritance taxpayers to make payments and manage their accounts.

• Administration of the State of Iowa Setoffs Program.

• Expanded functionality for the Department of Inspections, Appeals, and Licensing (DIAL).

Stay informed with all IDR news! Go to https://tax. iowa.gov/ and subscribe to receive updates. Keep us informed of your questions. We strive to be helpful to Iowa’s tax professionals, and value hearing from you.

Complete survey before Dec. 15 The Illinois CPA Society (ICPAS), in partnership with the Center for Accounting Transformation (the Center) and a coalition of other stakeholders, including Iowa Society of CPAs, launched a national survey to gain fresh insight into what’s driving the decline in individuals pursuing the CPA credential.

The survey aims to learn why a growing number of accounting students and young professionals in accounting and finance careers don’t finish the CPA exam or elect never to take it at all. Accounting and finance students and professionals under the age of 35, with and without the CPA credential, are encouraged to complete the survey at www.iacpa.org/YPsurvey.

Please help by sharing the survey link with those you know in the target audience. The survey will close on Dec. 15. Input is central to understanding current perceptions of the profession, the decision-making process regarding pursuing or not pursuing the CPA credential, and the perceived value and relevance it holds today.

Business & Industry

CONFERENCE March 26, 2024 | Courtyard Marriott Ankeny Topics include: • • • • •

Company culture Iowa business leader panel A/P automation State and local tax update The art of financial storytelling

• Economic outlook for 2024 • Cybersecurity • Talent development and HR hot topics and trends • Iowa-born business success story: Casey’s General Store

Register at www.iacpa.org/bic www.iacpa.org

Iowa CPA | December 2023 | 9

Future Ready Iowa and ISCPA share accounting opportunities

I

owa Society of CPAs joined Future Ready Iowa for seven career exploration events specifically for high school students from August to November.

Future Ready Iowa is an initiative to build Iowa’s talent pipeline, and the high school career events offer organizations and professionals the opportunity to share career information with students.

ISCPA has been working to boost the pipeline of future accounting professionals for several years. The Future Ready Iowa events are excellent occasions to reach high school students, especially in conjunction with November’s Accounting Opportunities Experience, a collaboration between state CPA societies and the AICPA to raise awareness of accounting career opportunities among this age group.

Future Ready Iowa event participants enjoyed workshops, seminars, and networking sessions designed to help students explore various career paths, acquire essential skills, connect with professionals, and gain insights into different industries to better prepare them for their future careers. The Iowa Society of CPAs participated in career events from August through November at Des Moines Lincoln High School, Central Campus, Des Moines North High School, Des Moines Roosevelt High School, Des Moines Hoover High School, and Ankeny High School. ISCPA also participated in the Des Moines East High School Back2School Night.

These experiences included an ISCPA information booth at each high school’s career fair as well as volunteer speakers from the Society. Throughout the events, ISCPA members and staff talked to

10 | Iowa CPA | December 2023

over 1,536 students. What a great way to get the conversation started between Iowa CPAs, student members, and the next generation of accounting professionals.

Career fairs were just a portion of ISCPA members’ efforts during Accounting Opportunities Experience in November. Watch for more details on this year’s reach and impact in the next issue of Iowa CPA. If our activities have inspired you to share your passion for the profession, ISCPA’s acCOUNTing ME IN program provides members with presentation materials and handouts needed to make a great classroom visit any time of the year.

If you are interested in learning more, let us know by contacting Natalie Harwood, ISCPA member engagement coordinator at nharwood@iacpa.org.

Thank you to the career fair ISCPA member volunteers: Sarah Anderson, CPA Emily Archer, CPA Emily Junker Gina Keck, CPA Alex Merfeld, CPA Anthony Russo, CPA Mason Sander, CPA Ben Spadt, CPA Todd Thorson, CPA

www.iacpa.org

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POLICY DIRECTOR

IOWA PRACTICES FOR SALE:

The Department of Revenue is looking for one Policy Director to work as part of our Policy Section of the Research and Policy Division.

Gross revenues shown.

The Department of Revenue is looking for one Executive Officer 5 to serve as a Policy Director for certain sales and excise tax topics, as part of the Policy Section of the Research and Policy Division.

Additional topics may be assigned as needed. This Policy Director will work collaboratively with an additional Policy Director to share duties across sales and excise tax topics and work will be allocated as needed to meet department needs. These Policy Directors will work with senior management within the department to set goals and develop plans for the administration of the relevant tax programs.

For further information and to apply: https://www. governmentjobs.com/careers/iowa/jobs/4265774/ policy-director-executive-officer-5 or contact samantha.basar@iowa.gov

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Iowa CPA | December 2023 | 11

CPE Spotlight Unlock success for you and your team in the tax season ahead DEC. 5 DEC. 7 DEC. 12 DEC. 13 DEC. 14

Getting Ready for Busy Season: Key Changes Every Tax Practitioner Should Know, virtual seminar 2023 Real World Tax Update for Individuals and Entities, virtual seminar Preparing Individual Tax Returns for New Staff and Paraprofessionals, West Des Moines and live webcast Tax Forms Boot Camp: LLCs, Partnerships and S Corporations, virtual seminar

DEC. 19

This Year's Best Income Tax, Estate Tax and Financial Planning Ideas, virtual seminar Fiduciary Income Tax Returns-Form 1041 Workshop with Filled-in Forms, virtual seminar Reviewing Partnership Tax Returns: What Are You Missing?, virtual seminar

DEC. 20

Reviewing Individual Tax Returns: What are You Missing?, virtual seminar

DEC. 20

Reviews S Corporation Tax Returns: What are you Missing?, virtual seminar

DEC. 15

Get to know the new Corporate Transparency Act (CTA) requirement Effective Jan. 1, 2024, an estimated 32.6 million entities will be required to report information about their beneficial owners to FinCEN as part of the Corporate Transparency Act (CTA). This reporting specifically targets small businesses and holding entities. Mark your calendar as we dive into this crucial topic and its impact on your clients’ businesses.

Guide to the Corporate Transparency Act for Accounting and Finance Professionals 2 hours CPE | Virtual seminar Dec. 12, Noon-2 p.m.

Dec. 27, 1-3 p.m.

Jan. 17, 9-11 a.m.

Register at www.iacpa.org/cta

CONFERENCES AT A GLANCE Coming in 2024! usiness & Industry B Annual Meeting and Leadership Conference May 14 Iowa Governmental Roundtable May 21 Financial Institutions June 10-11 Technology June 20 Insurance Industry Aug. 7 Emerging Leaders Sept. 19- 20 Fall CPE March 26 May 2

Strengthen our voice and contribute at www.iacpa.org/advocacy 12 | Iowa CPA | December 2023

www.iacpa.org

Learning from FTX: Internal Control, Corporate Governance and Regulation in Cryptocurrency Investments, West Des Moines or live webcast DECEMBER 18TH | 8:00am-9:40am

H E T I CS

Need ethics CPE? We have you covered!

DEC. 11

The Bookkeeper Goes to Prison, virtual seminar

DEC. 13

The Ethics Hour: Ethics in the Real World, virtual seminar

DEC. 20

Accountancy Laws, Ethics, Taxes and Financial Reporting Review: Ethics 2023, virtual seminar Business Ethics: Cases from the Real World, virtual seminar

DEC. 29

Find more at www.iacpa.org/ethics

Update your profile As the year ends, it’s a perfect time to check your member dashboard and make sure your information is up to date for 2024. This helps us communicate the information you want so you can stay informed with news, events and learning opportunities. Visit www.iacpa.org/my-cpa to review your profile, job title, contact data, and adjust communication preferences.

Name

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Your opinion counts Have you ever wondered why a certain topic isn’t offered in ISCPA education options? Do you have an upcoming business challenge your organization is facing? We want to know what you need from the CPE programs we offer! Share your ideas directly with Senior Director of Learning and Operations Katie Shields at kshields@iacpa.org or include them on your evaluation survey when attending our education programs.

We welcome your feedback on programs we offer as well as new ideas!

www.iacpa.org

Iowa CPA | December 2023 | 13

Welcome!

The following individuals have recently joined the Society. Please take time to welcome them and invite them to participate in events and programs with you. Find these members in ISCPA’s Member Directory at www.iacpa.org/my-cpa.

Jackie Carl Honkamp PC Dubuque

Savannah Fenimore UHY LLP Phoenix, Ariz.

Alexis Pitzen RSM US LLP Cedar Rapids

Tom Dyer RSM US LLP Cedar Rapids

Taylor Abraham IMS Branded Solutions Inc Cedar Rapids

Robert Mallinger Chevron Renewable Energy Group Ames

Elliott Smith RSM US LLP Des Moines

Craig Enneking Hogan-Hansen PC Cedar Rapids

Jake Barr RSM US LLP Davenport

Luke Martin RSM US LLP Cedar Rapids

Garrett Wheeler RSM US LLP Des Moines

Mack Hayer UHY LLP West Des Moines

Connor Bean RSM US LLP Des Moines

Staci Nevinski Eide Bailly LLP Des Moines

Ben Wickum Collins Community Credit Union Cedar Rapids

Brayden Vink Van Maanen Sietstra Meyer and Nikkel PC Pella

Emily Colwell Moores CPA Woodbine

Emily Nutt RSM US LLP Davenport

Lane Dethrow RSM US LLP Des Moines

Conner Pitz RSM US LLP Des Moines

AFFILIATES Lindsey Carley MHCS PC West Des Moines

New Student Affiliates Crowder College Roger Enamorado

Missouri State University Olivia Blessing

Western Governors University Christine Blanchard

Western Iowa Tech Community College Merhawi Andu

Hunter White has joined LattaHarris LLP as a staff accountant.

Amanda Lane, TDT CPAs and Advisors PC, Cedar Rapids, has been named partner.

Members in the news Ashlynn Christensen, has joined Vision Financial Group, Des Moines, as a tax consultant.

Trish Jones, was hired

by Pizza Ranch Inc, Orange City, as payroll coordinator.

Andrew Oswalt, TaxAct, Cedar Rapids, has been promoted to principal tax analyst.

Jennifer Pavlovec has been promoted to senior vice president of finance at ChildServe Inc, Johnston.

14 | Iowa CPA | December 2023

Kevin Den Adel, University of Iowa Henry B Tippie College of Business, Iowa City, has been promoted to professor of instruction.

Brandon Qualley has been hired by Sammons Financial Group Inc, West Des Moines, as managerfinancial reporting.

www.iacpa.org

IOWA CPA SPOTLIGHT

JOSE LUIS GARCIA JOB: Audit director with MHCS PC in West Des Moines HOMETOWN: Winona, Minnesota ALMA MATER: Winona State University COMMUNITY AND SOCIETY ACTIVITIES: Treasurer and member of the finance committee of HOME Inc., founding member and executive vice president of corporate development for the the Iowa chapter of the Association of Latino Professionals for America (ALPFA), and member of the ISCPA Pathways to CPA Licensure Task Force.

Jose and his wife Susana live in Des Moines with their daughter, Camila.

My inspiration to become a CPA: My sister.

If I weren’t a CPA, you might find me: As an actuary or electrician.

How has being a member of ISCPA helped you?

Building long lasting relationships and having an organization to use as a resource for my personal professional growth.

What are some of the biggest changes you’ve seen in the profession? New standards year over year that keep people involved in the profession and create new opportunities.

What is your favorite thing about your job? The relationships and network you build by being a CPA. People don’t know this about me: I am originally from Mexico and grew up on a farm. I enjoy horseback riding and being out in the country.

Message for high school and college students considering a career as a CPA: It’s more than number crunching. Being innovative and a CPA can lead you to great opportunities. The doors that it can open in a future career are significant.

Philosophy and principles toward work and life: Work hard and play harder. You need to be consistent and focused at work but be able to step away and focus on your personal life to be able make a long lasting career without getting burnt out.

In my free time: I go to the gym or play soccer.

First job: Server/waiter What I wanted to be when I grew up: Actuary I never leave home without: Chapstick

www.iacpa.org

Secret talent: Remodel houses in my spare time.

How has your background and experience shaped who you are today? One hundred percent - seeing how hard my parents worked to set me and my siblings up for success is what instilled in me the work ethic that I have today.

What influences have helped you in life and in work? Having mentors along the way can point you in the right direction. Outside of my career, having close people that can keep me grounded and support me.

Have you had mentors? I’ve had mentors in every aspect of my career at this point, with my current mentor, Wendy Moran, playing an influential part in where I am today.

Biggest achievement to date: Being a father to Cami! It’s the hardest, yet most rewarding job I’ve had.

What my autobiography would be called: Living My Seventh Life (I enjoy adrenaline and have been called a troublemaker).

If I were famous, I’d want to be famous for: Helping other people succeed.

Best advice I ever received: Treat the janitor the same way you treat the president of the company.

TV obsession: Soccer every Saturday or Sunday.

Favorite food: Posole, a Mexican soup.

Place I’d love to live: Barcelona, Spain

Favorite quote: You never fail if you never give up.

Favorite musician: Joan Sebastian

Favorite movie: Blood Diamond

Famous person I would like to meet: Lionel (Leo) Messi

Best concert: Carin Leon

Favorite app: FanDuel

My hero is: My mother

Go-to karaoke song: Eso Y Mas by Joan Sebastian

Iowa CPA | December 2023 | 15

1415 28th Street, Suite 450 West Des Moines, IA 50266-1419

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800-805-1031 • 515-224-5259 2900 Jordan Grove West Des Moines IA 50265 iowaequityexchange.com Ken Tharp

INTEGRITY. PRECISION. SECURITY.

2½ x 4¾

Some things never go out of style, such as a favorite pair of jeans, aviator sunglasses, and great ISCPA members.

Like the Glamour Shots of years gone by, our team is eyeing the coolest new ideas in learning, networking and member benefits.

2024 is looking “mahvelous."

Best wishes this holiday season from all of us at Iowa Society of CPAs.