CPA
Newsletter from the Iowa Society of CPAs, your primary source for profession-related information
Shape the Future of ISCPA: YOUR VOICE, YOUR PROFESSION, YOUR IMPACT
In today’s dynamic and evolving professional landscape, the Iowa Society of Certified Public Accountants (ISCPA) strives to remain relevant and valuable to its members. To better understand which services are most impactful and to identify any gaps, ISCPA is requesting direct feedback from you. This member survey is a strategic initiative that allows ISCPA to understand your priorities and continuously improve its offerings. It has been five years since our last comprehensive member survey, and it’s time to hear your thoughts on a variety of membership topics.
The importance of member feedback
Feedback is the backbone of any member-driven organization. It provides insights into what members value most, their challenges, and how the organization can better serve them. By completing the survey, you not only contribute to the continuous improvement of ISCPA's offerings but also gain a platform to voice your needs. Whether it’s identifying the services that help you thrive or pinpointing gaps that need to be addressed, your feedback directly influences how we evolve and serve you better. By taking just ten minutes to complete the member survey, you’re not only helping ISCPA enhance its offerings but also ensuring that your professional needs are met in today’s environment. This is your chance to make a tangible impact on your profession's future. Help us stay aligned with your priorities so we can continue to support your success in a rapidly changing world. With significant human capital challenges and a turbulent political climate, we understand how quickly business can change.
More opportunities
To complement the member survey, ISCPA staff and board members will be visiting communities across the state later this fall to meet with members face-to-face. Watch for more information coming soon on meetings in Ames, Atlantic, Cedar Rapids, Decorah, Dubuque, Mason City, Mount Pleasant, Osceola, Sioux City and Spencer.
The survey is open through Sept. 30, and the results will be published in the December issue of Iowa CPA. In appreciation for your participation, one lucky survey participant will be drawn at random to win a $250 Visa gift card! Your feedback is invaluable—take a moment to complete the survey and encourage your colleagues to do the same. Together, we can shape the future of ISCPA.
Professional issues update in Quad Cities
Co-hosted by Iowa Society of CPAs and the Illinois CPA Society
Staffing, AI adoption and liabilities, and ever-changing client and company expectations make the work of the CPA profession even more complex. But with these challenges also come great opportunities. Join Dawn P. Latham, CAE, CEO of the Iowa Society of CPAs and Geof Brown, CAE, president and CEO of the Illinois CPA Society to explore pressing issues in the profession and discuss topics that CPAs need to know about. This will be a great opportunity to interact with your peers and with the leaders of the Iowa and Illinois Societies. Sign up at www.iacpa.org/PIU
Sept. 17 | FREE for members | 1.5 hours CPE
Stoney Creek Inn | 101 18th St, Moline, Ill.
Networking and Lunch: 11:30 a.m. - Noon Program and Q&A: Noon – 1:15 p.m.
ISSUE NO. 2024-9
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 50266
Email: iacpa@iacpa.org
Website: www.iacpa.org or contact the ISCPA office: 515-223-8161 800-659-6375
Cover Photo by Payton Shields: Badger Creek in Van Meter, IA
The CPA role in Beneficial Ownership Information (BOI) reporting
The Corporate Transparency Act (CTA), enacted in 2021 and administered by FinCEN, now requires reporting of beneficial owners’ information (BOI) from companies, including small businesses.
Questions have surrounded the CPA's role in assisting clients with BOI reporting. As clients ask their trusted advisors for guidance, please know there is still much debate on who should accept the responsibility for the new CTA reporting. Concerns about whether advising clients on the new BOI reporting form could be considered an unauthorized practice of law (UPL) leaves CPAs in a difficult position.
ISCPA has been closely monitoring the issue to determine final guidance on the UPL questions for our members. With the ultimate decision on UPL lying with Iowa’s Supreme Court, ISCPA expects to have answers to share with members soon on this matter. For members also doing business across state lines, be sure to monitor other states’ guidelines and rules which may differ from Iowa.
November 15, 2024 | Virtual 9-10 a.m.
1 hr CPE
Available to ISCPA members only Leader: Charles Wismer www.iacpa.org/fincenstrat
Dawn P. Latham, CAE
Geof Brown, CAE
2024 Iowa Practitioner Liaison Meeting Recap
By Lambert Blank, Jr., ISCPA Taxation
Committee
The Iowa Society of CPAs (ISCPA) office hosted the annual meeting on June 4 featuring representatives from the Internal Revenue Service (IRS) and Iowa Department of Revenue (IDR) coming together to discuss current topics of interest to tax practitioners in Iowa. The IRS was represented by IRS Stakeholder Liaison Dan Arnell Belarmino from Chicago, Area Manager Dennis Bell, Field Compliance Manager Amanda Shirley and Local Taxpayer Advocate Jana Banks. The IDR was represented by Mike Mertens, Kurt Konek and Ben Clough, policy directors for pass-through entities, individual income tax and corporate income tax. Interested members of the public and representatives of the ISCPA Taxation Committee also attended.
Key IRS Points
• The IRS is continuing to focus audit attention on employment tax-related issues.
• With additional funding help from the U.S. Congress, it also has turned its attention to high wealth individuals. No singular definition of high wealth was provided, but it is assumed this means those whose taxable earnings exceed $400,000, plus a 50% increase in audits of those earning $10 million or more.
• With additional funding, the IRS has hired over 10,000 new employees, with 4,000 pending employees expected to be hired soon.
• Employee safety is being stressed, so fewer unannounced visits on businesses are occurring with prior appointments now being the norm, and revenue officers are now typically sent out in pairs.
• The IRS has seen continued success in collections in the last fiscal year ended in September, having collected $4.7 trillion, but it estimates $60 billion is still owed in unpaid employment taxes alone.
• The IRS also wants to hold its employees accountable, and it was suggested that when a practitioner contacts the IRS by telephone, that (1) the IRS employee be asked to repeat his/her employee number and (2) be asked to spell the employee’s name in case problems later occur. If
so, the practitioner should be asked to speak to a manager.
• All revenue officers have cell phones and, if problems occur regarding communicating with an officer, be sure to ask for that officer’s cell phone number.
• After an unexpected period with little or no service from the Iowa Taxpayer Advocate offices in Iowa, especially during Covid years, offices in Iowa now have adequate staffing. If a practitioner is unable to resolve taxpayer issues through normal IRS channels within 30 days, face-to-face meetings can be scheduled in Des Moines, Sioux City, Waterloo, and Davenport. However, one will always first need to leave a phone message when calling.
• The IRS criminal investigation division is currently reviewing $3 billion in potentially fraudulent Employee Retention Credit (ERC) claims.
• Twenty-seven practitioners in our area in the last year have had their CAF numbers compromised in data breaches by thieves who then can obtain transcripts on taxpayers. According to newly passed rules by the FTC, practitioners with 500 or more current and former clients must now follow bank reporting notification rules regarding actions to take after a data breach.
Key IDR Points
• The IDR has sent most practitioners in Iowa who have prepared Iowa tax returns a letter regarding common errors noticed on Iowa tax returns. No response is needed for this letter, and many of the errors seem to be software errors and the letter is intended to be informational only.
• Recently signed HF2649 provides a 2023 livestock capital gain exclusion, using a newly revised Iowa Form 100A, which can be used on an amended Iowa tax return.
• After tax season, there were over 7,000 pending amended 2022 tax returns as a result of the Pass Through Entity Tax (“PTET”) benefit, and the IDR is working through those as quickly as possible.
• New withholding guidance has been released regarding multiple employers, non-resident
Continued on page 4
aliens, head-of-household status, two earner couples, etc.
• For the new third-party designation on Iowa tax returns, do not enter a firm name, and instead only enter an individual, and then also enter the individual’s taxpayer ID number.
• The IDR mistakenly added back Iowa College Savings 529 plan deductions as income on individual tax returns for some taxpayers, rather than allowing as a deduction—most of those should be corrected automatically by now.
• Preparers should carefully read the new requirements for limited Iowa health insurance deductions on individual tax returns, since the taxpayer must be at least age 65 to qualify, and a special definition of income applies to an income limit of under $100,000.
• For Iowa composite returns using Form PTE-C, remember there is no need to send in the non-resident agreement. Keep a copy in case the taxpayer is ever asked to produce it. Also remember to include all non-resident members in detail, as no summary of any kind is acceptable.
• On partnership and S corporation income tax returns, all tax credit information must be completed and filed on both the returns themselves and the Schedules K-1 prior to owners claiming them on their own tax returns for the IDR to be able to match them up.
• Also, on all partnership and S corporation returns, the Schedule E (business activity ratio)
must be completed in both columns A and B, even if the business only has Iowa resident shareholders.
While not formally on the agenda, both prior to and after the formal discussion, the topic of IRS Direct File was discussed. Direct File is the new free IRS developed e-file program made available to a limited number of qualified taxpayers as a result of the Inflation Reduction Act, and it became operational on the IRS website on March 17, not to be confused with the former program in which the IRS partnered with national tax preparation software firms. The IRS deemed it a success and has now opened its use up to more taxpayers and is actively looking to partner with state departments of revenue to also jointly offer state tax programs as well. The IDR also indicated they are considering this, but have just begun to investigate it, with the idea that it may need to partner with a national tax software firm to develop the Iowa version of this.
The ISCPA Taxation Committee would like to thank the representatives of both the IRS and IDR for participating in this meeting, which was made available both in person at the ISCPA office and via online access.
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AI discovery - practical steps for CPAs to start with AI before tax season
By Rick Meyer, CPA, MBA, MST
If I read one more AI article, I’m going to pull what’s left of my hair out! I’m tired of the theoretical jargon—words like AI pilot and digital transformation. I’m exhausted from reading abstract articles about the potential of AI to revolutionize my business, with no practical steps on what to do now. It’s useless!
Stop all this gobbledygook! I’m just a practical, old time, semi-retired, non-tech-savvy CPA who struggles to even use a TV remote control. Don’t waste my time with theory. Just give me answers to a few basic questions:
1. What specific practical tasks can AI do today to make a CPA’s life easier?
2. What specific practical steps can a CPA take today to prepare AI for the 2025 tax season?
3. What will this save me in dollars?
Last year, with my frustration and passive aggressive nature in hand, I marched into Chris Stephenson’s office, our director of intelligent automation, and aired my AI grievances. What he explained was the process for answering all those questions above. It’s called AI discovery, and he’s done it for businesses in every industry, including hundreds of CPA firms. Here’s the story.
AI discovery
Last year, Chris put together a think tank session with 200 top CPA firms nationwide. The goal was to gather feedback of how AI might help their practice. The number one thing he heard from the group was, “I don’t know where to start.”
CPAs understand there is incredible potential with AI, but they don’t know what to do with it, where to apply it, what it does best, how to scale it across a practice, or how do you get it to do what they need.
He then walked the room through an ‘AI discovery’ session - a process where organizations can identify where AI makes the most sense for them and how they can get started. This is the practical first step every firm can take right now. Here is what the process roughly looks like.
IDEATION SESSION: This part is a workshop with partners and staff that gives everyone an
opportunity to present their problems and ideas for possible AI solutions. Everyone on your team probably has AI ideas, the trick is getting them all out in the open and figuring out what will have the most value to your firm.
SCORING: So, you have a bunch of ideas. Now what? This is where scoring is critical. Discovery often hinges on scoring each idea based on objective measures to determine their priority. Every firm is different, but you want to score on several dimensions like which can be solved the fastest, which will have the biggest impact, which can scale for every department, etc. This way you can rank what has the highest value and where you should start.
TECHNOLOGY INFRASTRUCTURE ASSESSMENT:
Ok, you know which AI projects are going to have an impact on your business, but is your firm’s system even ready for AI? You’ll need to have your tech infrastructure evaluated to determine its AI readiness and to find out if there are any shortcomings preventing you from getting started.
ROADMAP: Finally, you need a clear roadmap to lay out how you’re going to deploy each solution. Do you need to buy a solution? Build an AI solution? How about training employees? How do you measure if your solution is having an impact? A roadmap should lay out all of that for you.
Back to Chris’ think tank session. After he had run through the ideation session, where almost 500 ideas were generated, his team ran their scoring algorithm and identified five problems that AI could help nearly every firm with:
1. Collecting payments from clients
2. Requesting and processing documents from clients
3. Moving trial balances to workpapers
4. Responding to IRS letters
5. Chat box to handle internal queries, like HR questions
With this information, AI solutions were created to address each of these problems.
Although these were the most identified issues with this group of 200 CPAs, every firm is different. Not every firm needs one of these five solutions. CPA firms may have their own unique problems that they’d love to fix with an AI solution. So, don’t jump to buy a package of AI add-ons from a local vendor to solve issues that may not even exist in your firm. Instead, do your own AI discovery to identify your firm’s biggest pain points and develop a plan to attack with AI.
How much could CPAs save
At this point in Chris’ story, the dollar signs started flashing in my head. I thought about CPAs’ increasing bottom line profits!
I thought about all the time I used to spend with the client billing analysis Excel spreadsheets to analyze my time, project-b- project, to justify hours and bills and put that into a client letter.
I thought about all those routine IRS Notice letters I had to write to explain why my client’s 1099-DIV did not match the tax return Schedule B.
I thought about some other mundane tasks I used to do in public practice that bored me.
You may now be asking yourself how much CPAs could save if AI were to do some specific tasks.
We want to see you in action! As you participate in this month’s Iowa CPAs Month of Service, share your projects and service!
Take pictures or videos of your volunteer projects and activities while wearing your event t-shirt and share on Facebook, Instagram or LinkedIn using hashtag #IowaCPAsVol24. Be sure to tag us!
Report your volunteer activities by Oct. 11. Once your service activities are done, complete the Month of Service report to help us tabulate and share results from this year's event. Find the reporting links at www.iacpa.org/MOS
Some early statistics show that firms that adopt AI are earning 40% more per professional. Another statistic shows that companies that are AI leaders are outperforming competitors by six times compared to those not using AI. Firms that employ the document request tool and the trial balance to workpaper tool are seeing up to a 25% reduction in time preparing returns.
Oh, would life have been better as a CPA 45 years ago when I started in public practice if AI existed back then? Should I even consider a return to public accounting from my semi-retirement with AI in the picture?
The answer to the first question is an obvious ‘yes,’ and to the second question an even more obvious ‘no.’ But for those still in the game, let’s face it: It’s time to jump on the AI bandwagon to be more profitable, reduce stress, have more free time and have more fun.
Rick Meyer, CPA, MBA, MST is a long-time member of the Illinois CPA Society and has served on various tax committees over the past 45+ years. He is a director for alliantgroup, a national firm that works with businesses and their CPAs to identify powerful government-sponsored tax credits and incentives, talent solutions, and emerging technologies like Generative AI. He can be contacted at rick.meyer@alliantgroup.com.
CLASSIFIEDS
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HYBRID CFO/CONTROLLER POSITION - This is a full-time hybrid role as the CFO/Controller at Happy Joe's Pizza in Davenport area. The position will be responsible for overseeing financial performance, including budgeting, financial reporting, and cash management. The role involves collaborating with various departments to analyze financial data,
provide recommendations for improving profitability and operational efficiency, and oversee the cost centers and financial results for multiple corporate entities. The CFO/Controller will supervise an accounting staff and ensure compliance with regulatory requirements. While the role is primarily based in Davenport, IA, there is flexibility for some remote work. The Controller reports directly to the CEO, but also has financial reporting responsibility to the investor group, and the HJNFB Board for accounting, financial support, and reporting. For more information and to apply, visit our LinkedIn page https:// www.linkedin.com/jobs/view/3972831353/
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7. Franklin Co, IA Bookkeeping Practice-$295,000
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9. North Central Iowa Tax EA Practice-$380,000
10. Winterset, Iowa CPA Practice-$704,000
More Listings COMING SOON! For more information call Trent Holmes 1 (800) 397-0249 or visit www. APS.net
FINANCE DIRECTOR - The Finance Director will manage complex financial programs, including federal Protection and Advocacy grants, contracts, and other public or private funds. The Finance Director oversees DRI budget development, financial statements, payroll, employee benefits, and all other finance-related duties. The purpose of this position is to ensure that the agency develops and maintains sound financial policies and budgets and complies with all financial requirements. Appy at https://disabilityrightsiowa.org/news-events/job-openingfinance-director/. Contact is Katie Vande Vorde at kvandevorde@driowa.org
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Fair Labor Standards Act timeline and impact
By Seth Van Gorp, Taxation Committee
The ISCPA Taxation Committee was created to offer technical assistance to members and keep them informed of significant changes in taxation laws, as well as to increase public understanding of CPA’s specialized competence in the taxation field. To further reach these goals, the Taxation Committee holds monthly meetings from May until August to discuss current tax and accounting topics and updates. To join the committee or explore others, go to www.iacpa.org/committees
On June 24, the Taxation Committee had the privilege of hosting Frances M. Haas, shareholder practicing in labor and employment law with Nyemaster Goode in Des Moines, for an overview of the recent changes to the Department of Labor’s (DOL) rules surrounding overtime pay and protections offered by the Fair Labor Standards Act (FLSA, or the Act).
General rule and exemptions
The federal overtime provisions state that, unless exempt, employees covered by the Act must receive overtime pay for hours worked over 40 hours in a workweek at a rate not less than time and one-half of their regular pay.
Certain classes of employees qualify for exemptions under the FLSA rules. The most common exemptions apply when (a) an employee is paid a salary (or on a “salary basis”); (b) the employee’s salary is not less than a minimum salary threshold, and (c) the employee primarily performs executive, administrative, or professional (EAP) duties. Exemptions also apply to employees performing duties in technology (“computer” employees), outside sales, and other highly compensated employees (HCEs).
DOL new final rule
The DOL’s new final rules on overtime pay focus on the salary thresholds criteria (noted in (b), above). Specifically, the rules phase in a significant increase to the minimum salary thresholds, effectively making more EAP employees and HCEs eligible for overtime pay. Key dates and salary thresholds under the new rules are phased in as follows:
Before July 1, 2024
Starting July 1, 2024
Starting Jan. 1, 2025
$684/week or $ 35,568/year ($107,432/year for HCEs)
$844/week or $ 43,888/year ($132,964/year for HCEs)
$1,128/week or $ 58,656/year ($151,154/year for HCEs)
Starting July 1, 2027 Salary thresholds will update every three years, based on wage data
As a result, EAP employees are now eligible for overtime pay when base salary is $43,888 or less ($132,964 for HCEs) as of July 1, 2024.
Executive, administrative, and professional duties
Employees fit the EAP exemption based on the respective duties performed for the employer.
Executive duties involve (a) managing the business (or a customarily recognized department or subdivision), (b) regularly directing the work of at least two or more other full-time employees, and (c) authority to hire and fire other employees (or weight is given to suggestions or recommendations as to hiring, firing, advancement, promotion, or other change of status of other employees).
Administrative duties involve (a) performance of office or non-manual work directly related to the management or general business operations of the employer or its customers and (b) exercise of discretion and independent judgment with respect to matters of significance.
Professional duties involve (a) performance of work requiring advanced knowledge (predominantly intellectual which requires consistent exercise of discretion and judgment), (b) the advanced knowledge is in
the field of science or learning, and (c) the advanced knowledge is customarily acquired by a prolonged course of specialized instruction.
Highly compensated employees are exempt from overtime pay if they perform office or non-manual work and customarily and regularly perform at least one of the duties of an EAP employee.
Legal challenges and uncertainty
Three challenges to the final rule were filed in federal courts and resulted in a series of rulings over the days leading up to the July 1, 2024, effective date. Most notably, the state of Texas sought nationwide injunctive relief to prevent the rule from going into effect on July 1. The judge granted a limited injunction that blocked the rule only as it applied to the state of Texas as an employer. As a result, the rule remains in effect for all other employers for now; however, it appears likely there may be a summary judgment ruling before the second deadline on Jan. 1, 2025. This challenge is very similar to that of the Obama administration’s 2016 rule, which also attempted to dramatically increase the salary threshold. That rule was permanently blocked on the basis that the higher salary threshold essentially made an employee’s duties irrelevant if the employee’s salary falls below the threshold.
On a related note, the recent demise of the Chevron principle may impact (increase) the likelihood that
HAVE YOU VISTED ISCPA'S KNOWLEDGE HUB?
The library of free downloadable content includes white papers, webinars, product guides, case studies, industry analysis and much more, provided by experts and vendors within the accounting industry. You will find new information is regularly added. Go to the ISCPA website www.iacpa.org and navigate to the Knowledge Hub under Resources.
the court finds the DOL’s new rule is an improper interpretation of the FLSA.
Conclusion and considerations
The final rule will have a major impact on how employers address overtime. According to the DOL, the first increase in July would expand overtime eligibility to an additional 1 million workers, and the January increase would cover an additional 3 million. Employers will need to consider compensation packages and practices in light of the rule, including the possibility of increasing base salary levels to maintain exempt status for EAP employees, converting salaried EAP employees to hourly and paying any applicable overtime, and for HCEs, adding duties to bring them within the EAP exemption (with lower salary thresholds).
For more information, refer to the Department of Labor Wage and Hour Division Fact Sheets, specifically Fact Sheet 17A, “Exemption for Executive, Administrative, Professional, Computer and Outside Sales,” found at www.dol.gov/agencies/whd/factsheets
Seth Van Gorp is a CPA with Kroese & Kroese PC in Sioux Center and has been an ISCPA member since 2010. Seth co-chairs ISCPA's Taxation Committee.
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 .
Phil Carpenter
TBB Advisors LLP
West Des Moines
Ken Galbraith
PwC, Des Moines
Ross Grekoff
PwC, Des Moines
Kevin Judas
PwC, Des Moines
Erin Kiefer
Murphy Coe & Smith PLLC, Osage
Shannon Larson Deloitte, Davenport
Nicole Muhlhausen Deloitte, Davenport
Lesley Pearson
Verity Group CPA LLC
North Sioux City, SD
Alli Platte
KPMG LLP, Des Moines
Nicole Ryan PwC, Des Moines
Courtney Schaffer
PwC, Des Moines
Valerie Stam Oskaloosa
Hannah Van Meeteren
CliftonLarsonAllen LLP
West Des Moines
Kalvin York
RSM US LLP, Madison, Wisc.
Members in the news
Brant Barnhart, RSM, Cedar Rapids, has been promoted to audit senior associate.
Kayli Bente, Deloitte, Des Moines, has been promoted to audit & assurance senior manager.
Lauren Bever, EY, Des Moines, has been promoted to senior manager.
Steve Borneman, Denman CPA LLP, West Des Moines, has been promoted to senior.
Chris Bowles, RSM, Des Moines, has been promoted to audit supervisor.
Alex Bruinekool, RSM, Des Moines, has been promoted to audit supervisor.
Meghan Clark, RSM, Cedar Rapids, has been promoted to senior associate.
Sam Conlan, RSM, Cedar Rapids, has been promoted to audit senior associate.
Leigh Crees, RSM, Des Moines, has been promoted to audit senior manager.
Jackie Dammeier has been hired by Mittera Group, Des Moines, as Director of Financial Operations.
Jacki Danover, RSM, Cedar Rapids, has been promoted to audit supervisor.
AFFILIATES
Olivia Barnes
King Reinsch Prosser & Co LLP, Sioux City
Skyler Groen RSM US LLP, Des Moines
Bryce Hower
Hogan-Hansen PC, Cedar Rapids
Maria Kircher Deloitte, Des Moines
Brenda Ksiazek
HorsePower Brands, Omaha, Neb.
Michelle Mroz Principal, Des Moines
Zach Doehrmann, MHCS PC, West Des Moines, has been promoted to senior accountant.
Claire Dudek, RSM, Des Moines, has been promoted to senior associate.
Jaxson Eden, EY, Des Moines, has been promoted to audit senior.
Carson Ehrenberg, Deloitte, Des Moines, has been promoted to tax senior.
Katelin Emehiser, RSM, Des Moines, has been promoted to senior audit associate.
Rachel Exline, Denman CPA LLP, West Des Moines, has been promoted to senior.
Katie Oosterhuis
MHCS PC, West Des Moines
Mechelle Parra
Denman CPA LLP. West Des Moines
Jack Peterson
Eide Bailly LLP, Des Moines
Jade Redlinger LattaHarris LLP, Washington
Daniel Richter Deloitte, Des Moines
Max Rooney
Deloitte, Des Moines
Paige Washburn
Deloitte, Des Moines
Natalie Fischer, RSM, Dubuque, has been promoted to audit manager.
Ryan Fischer, RSM, Des Moines, has been promoted to assurance supervisor.
Derek Friestad, Deloitte, Des Moines, has been promoted to tax senior.
Jose Garcia, MHCS PC, West Des Moines, has been promoted to principal.
Felicia Gibbs, Eide Bailly, Dubuque, has been promoted to senior manager.
Bradley Gregory, RSM, Des Moines, has been promoted to audit senior associate.
Demi Halloran, RSM, Cedar Rapids, has been promoted to tax supervisor.
Emily Hansen, Eide Bailly, Dubuque, has been promoted to senior manager.
Shawna Huls, RSM, Cedar Rapids, has been promoted to senior manager.
Sarah Jones, RSM, Iowa City, has been promoted to senior associate.
Kyle Kass, Honkamp PC, Dubuque, has been recognized as a 2024 Rising Star by the Telegraph Herald.
Michaela Kelly, RSM, Davenport, has been promoted to audit supervisor.
Justin Kent, EY, Des Moines, has been promoted to assurance senior.
Katie Kerker, RSM, Cedar Rapids, has been promoted to senior manager.
Luke Kluesner, RSM, Dubuque, has been promoted to senior associate.
Molly Knobbe, MHCS PC, West Des Moines, has been promoted to supervisor.
Isaac LaFleur has been hired by UHY LLP, Des Moines, as audit senior.
Blake Lampo, RSM, Des Moines, has been promoted to audit supervisor.
Kayla Lenz, EY, Des Moines, has been promoted to senior tax accountant.
Leah Lorenz has been hired by MHCS PC, West Des Moines, as senior accountant.
Katelyn Mardis, CliftonLarsonAllen, Waukee, has been promoted to senior associate.
Neil Marshall, RSM, Cedar Rapids, has been promoted to senior manager.
Luke Martin, RSM, Cedar Rapids, has been promoted to senior associate.
Carson Messenger, MHCS PC, West Des Moines, has been promoted to senior manager.
Adam McKown, RSM, Des Moines, has been promoted to tax senior associate.
Kristine Mohning, WesTel Systems, Remsen, has been promoted to general manager.
Gus Muenzenmay, EY, Des Moines, has been promoted to senior associate.
Nathan Mueterthies, RSM, Des Moines, has been promoted to senior associate.
Ethan Mullins, Denman CPA LLP, West Des Moines, has been promoted to senior.
Tim Nass, EY, Des Moines, has been promoted to senior manager.
Brianna Nelson, Eide Bailly, Dubuque, has been promoted to senior associate.
Chelsea Nunn, RSM, Cedar Rapids, has been promoted to senior manager.
Emily Nutt, RSM, Davenport, has been promoted to senior associate.
Aurora Oliver, RSM, Des Moines, has been promoted to audit manager.
Wes Pieper, Eide Bailly, Des Moines, has been selected for the 20242025 West Des Moines Leadership Academy.
Conner Pitz, RSM, Des Moines, has been promoted to senior associate.
Alexis Pottebaum, RSM, Des Moines, has been promoted to senior associate.
Reilly Quick, RSM, Davenport, has been promoted to tax supervisor.
Hattie Rhodes, has been hired by Principal Financial Group, Des Moines, as fund accounting analyst.
Brianna Ricklefs, UHY LLP, West Des Moines, has been selected for the 2024-2025 West Des Moines Leadership Academy.
Alex Ross, Gursey Schneider LLP, Dubuque, has been promoted to senior tax manager.
Wes Schultes, RSM, Des Moines, has been promoted to audit supervisor.
Blake Scott, has been hired as IT internal auditor at Federal Home Loan Bank, Des Moines.
Michaela Sinnwell, RSM, Cedar Rapids, has been promoted to manager.
Monica Steckel, EY, Des Moines, has been promoted to managing director.
Rachael Uhlenhopp, RSM, Dubuque, has been promoted to tax manager.
Kayla Vandehaar, has been promoted to senior manager, treasury and tax, at the Lauridsen Group, Ankeny.
Madeline VanderFeen has been hired as senior audit associate at Eide Bailly, Des Moines.
Hannah Van Meeteren, CliftonLarsonAllen, West Des Moines, has received the Elijah Watt Sells award.
Derek Van Roekel, RSM, Des Moines, has been promoted to audit senior associate.
Matt Van Waning, RSM, Cedar Rapids, has been promoted to audit managing director.
Regan Wasson, RSM, Iowa City, has been promoted to supervisor.
Sam Welch, RSM, Davenport, has been promoted to audit supervisor.
Garrett Wheeler, RSM, Des Moines, has been promoted to audit senior associate.
Dalton Woeber, RSM, Iowa City, has been promoted to supervisor.
Erin Wolff, has been hired as lead investment accountant at F&G, Des Moines.
Alec Wulfekuhle, RSM, Cedar Rapids, has been promoted to audit senior.
Jin Ming Yu, EY, Des Moines, has been promoted to assurance senior.
New Student Affiliates
Central College
Laci Keen
Gage Linahon
Drake University
Reagan Cobb
Alexi Fernandez
Yohali Ilunga
Eric Jerdee
Iowa State University
Noah Adelmund
Rachel Bertrand
Annie Chu
Paige Creswell
Zach Frideres
Grant Heldorfer
Kylie Long
Lexi Shike
Eric Von Feldt
Madison Vorm
Bailey Wuestenberg
Loras College
Alicia Kluesner
Morningside University
Antonio Araujo
Sage Evans
Mason King
Marco Lira
Yaneli Luna
Chace Mohrhauser
Trey Richert
Tate Van Regenmorter
Mount Mercy University
Rainer Hauss Pires
Northwestern College
Holly Jade Avery
Rice University
Shrey Patel
Southern New
Hampshire University
Kristin Grochala
University of Iowa
Afley Barnabas
Will Broberg
Sadie Clark
Allan Cooper
Ella Lampe
University of Missouri-Columbia
Devon Dembinski
University of Northern Iowa
Chase Lauman
Dhruv Patel
Jordyn Roosa
Troy Schmitt
Matt Scieszinski
Western Governors University
Debra Lindner
Grab a friend and attend this exclusive networking event designed to foster meaningful connections and enhance professional relationships between CPAs, financial industry professionals, bankers, and lawyers!
Connect with like-minded professionals from other industries and unwind after the workday in a fun, relaxed environment!
Co-hosted with Iowa Bankers Association, Iowa State Bar Association’s Young Lawyers Division, CFA Society of Iowa, Derek Hertges – Member of Principal® Financial Network, and BCC Advisers, this event is one you won't want to miss!
Reserve your spot today at www.iacpa.org/sas. Contact ISCPA’s Natalie Harwood at nharwood@iacpa.org with questions.
WE WALK THE TALK.
CAMICO knows CPAs, because we are CPAs.
Created by CPAs, for CPAs, CAMICO’s guiding principle since 1986 has been to protect our policyholders through thick and thin. We are the program of choice for more than 8,000 accounting firms nationwide. Why?
CAMICO’s Professional Liability Insurance policy addresses the scope of services that CPAs provide.
Includes unlimited, no-cost access to specialists and risk management resources to help address the concerns and issues that you face as a CPA.
Provides potential claim counseling and expert claim assistance from internal specialists who will help you navigate the situation with tact, knowledge and expertise.
Does your insurance program go the extra mile? Visit www.camico.com to learn more.
Harris Hauptman Senior Account Executive
CPE Spotlight
Nonprofit Virtual Series kicks off in September
Be sure to mark your calendar for these unique seminars exclusively planned by the ISCPA Nonprofit Organizations Committee. The four-part series is designed for CPAs, accounting professionals, financial officers, and board members working in or with nonprofit organizations.
Session 1: Accounting & Auditing Update | Sept. 12
Session 2: Planned Giving | Sept. 24
Session 3: Nonprofit Tax Update | Oct. 17
Session 4: Internal Controls and Technology for Nonprofits | Oct. 31
Each session can be purchased individually, or save $80 by purchasing the bundle.
Learn more at www.iacpa.org/nfp
Don’t miss upcoming specialty, A&A and tax CPE
SEPT. 25 - Best Practices in Not-for-Profit Accounting and Reporting | Live Virtual Seminar
SEPT. 25 - The Most Critical Challenges in Not-forProfit Accounting Today | Live Virtual Seminar
OCT. 23 - Construction Industry Financial Reporting, Benchmarking and Basic Taxation | Live Virtual Seminar
OCT. 28 - Accounting and Auditing Update for the Real World | West Des Moines and Live Webcast
OCT. 17-18
| BASIC
OCT. 29 - Preparation, Compilation and Review Update for the Local Firm | West Des Moines and Live Webcast
NOV. 1 - Real World Tax Update for Individuals and Entities | S.Sioux City, Neb. and Live Webcast
NOV. 6 - MNCPA Business Valuation Conference | Live Virtual Conference
View our entire CPE lineup at www.iacpa.org/cpe
Designed for those with less than one year of experience, this course bridges the gap between the theory students learn in college and the tools staff members need in practice with hands-on experience. Learn to improve efficiency, become more productive and profitable and meet quality control standards.
NOV. 11-12
| SEMI-SENIOR
Designed for audit staff with 1-2 years of experience, this course will help to improve skills to perform more complex analytical procedures and drafting financial statements and footnotes. Gain guidance to handle small engagements and to complete small audits, reviews and compilations with minimal supervision.
DEC. 5-6 | BEGINNING IN-CHARGE
Designed for audit staff with 2-3 years of experience, this course improves planning, review, audit and other engagement skills. Explore methods for planning and efficiently completing engagements, tactics when assuming higher levels of responsibility, assessing risk and materiality and learning to make non-statistical sampling decisions.
Plan to catch Ron Roberson in Cedar Rapids
Popular tax CPE instructor Ron Roberson returns to Cedar Rapids this fall. Don’t miss your last chance to catch Ron in person before he transitions exclusively to virtual teaching in 2025.
FALL FEDERAL TAX SUMMIT WITH RON ROBERSON
NOV. 11-12 | Hilton Garden Inn Cedar Rapids
Can’t make it to Cedar Rapids? Ron is also leading the virtual live Winter Federal Tax Summit on Dec. 9-10.
As an ISCPA member, you have exclusive access to over 12 hours of valuable CPE content at no cost. The Members-Only Free CPE Series is designed not only to fulfill your continuing education requirements but also to enrich your personal and professional growth. We strive to ensure that each hour spent in this series adds meaningful value to your development. While there are many sources for free continuing education, this series is thoughtfully curated by our learning and membership team to meet the unique needs of our members.
www.iacpa.org/cpe/freecpe
EMERGING LEADERS CONFERENCE RECAP
Emerging Leaders Conference hits all the marks
This year’s Emerging Leaders Conference, held Aug. 7 at West48 Conference Center in West Des Moines, allowed attendees to gain insights, learn new skills and discover tangible tactics on what it takes to lead, inspire and further professional success.
Nearly 50 of the brightest young professionals in Iowa had the chance to absorb, reflect, and apply new ideas as they become the newest leaders in the CPA profession.
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JAN TOWNE
FIRM/COMPANY: Riverview Financial Group, PC in Keosauqua
POSITION: Principal
ALMA MATER: Iowa Wesleyan College
SOCIETY INVOLVEMENT: ISCPA Taxation Committee, serving as chair for three years, Legislation Committee, board of directors, ISCPA board chair, and volunteered on several other committees. Jan is currently serving on two AICPA committees.
What was your path to becoming a CPA? I just celebrated 30 years of being a CPA. My route was not typical, but I loved every minute. I got married right out of high school and was a stay-at-home mom for eight years before I decided to go to college and get my degree as a non-traditional student. I started on an accounting path and never wavered from that goal. I went to school part-time at the University of Wisconsin until we relocated to Mt Pleasant. I took a couple years off to get my family moved and settled and then finished my degree at Southeastern Community College and Iowa Wesleyan College. I graduated in 1993, the same year my oldest daughter graduated from high school.
Tell us about your family: I currently live in Mt. Pleasant with my husband of nearly 50 years. We have raised three kids, two daughters that both live in Iowa and our son who is a CPA in Texas. We have 12 grandchildren and five great grandchildren, with our sixth on the way. We love to travel and plan to do more as we transition into retirement.
How has your accounting career evolved? My first job was with a public accounting firm in Fairfield and later managed their office in Keosauqua. I worked with that firm for 17 years until we parted ways, and I purchased the Keosauqua office. I created Riverview Financial Group in 2009. We have grown from a staff of two to a robust eight-member team. We offer bookkeeping and accounting services plus a full range of financial planning, including
First job: Ward secretary at our local hospital when I was 16. What I hope to do more of when I retire: Read non-accounting/ tax articles and publications.
investments, retirement and estate planning (no auditing though, I never liked that part of accounting).
How did you first get involved with ISCPA? Once I earned my CPA, I immediately became involved with the Iowa Society. I served for several years on the Taxation Committee, including a few years as chair. I also served on the Legislation Committee and always truly enjoyed being an advocate for the profession. My committee involvement led to the opportunity to serve on the board, including several years on the executive committee and a year as chair. I am currently serving on two AICPA committees working to promote the CPA profession and creating and reviewing material for the CPA exam. What are some of the biggest changes you’ve seen in the profession? In my 30 years, the profession has certainly seen many changes. Technology has played a huge part in that, mostly in good ways, taking many routine and tedious tasks and automating them. The role of the Society has also changed. We are no longer the primary source for continuing education in Iowa with so many newcomers entering the market, but the need to stay engaged with members will never change. The Society continues to give us the opportunity to network with our peers as well as advocate on the state and national level for our profession. Personal involvement will never grow old or become outdated. I will be forever grateful for all that this profession and the Society has provided to me and pray that they continue to flourish.
What I wanted to be when I grew up: I thought I would go into the medical field, possibly even become a doctor, until I learned that I had to be good at science. Not my favorite subject!
Favorite sports to watch: Football, particularly the Hawkeyes and Packers. TV show I’m currently hooked on: The Chosen.
Favorite vacation spot: Any beach, anywhere. Especially in January!
CUSTOMIZE YOUR AGENDA FOR THE PINNACLE OF LEARNING
This conference is designed to keep you at the peak of the accounting profession, offering the latest insights into evolving standards and essential industry topics. Elevate your experience by personalizing your agenda to match your expertise and learning goals with a wide range of sessions covering tax, accounting & auditing, and management/leadership. Don’t miss this valuable opportunity to explore all three critical areas in one event, taking your professional development to new heights!
Conference details and registration available at www.iacpa.org/eifc
Ken Tharp INTEGRITY. PRECISION. SECURITY.