”“ ”“

” ”“

”“

“”“

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

January 2016

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

CPAWhat difference does it make?Discover how volunteering with ISCPA can impact you

Working in accounting and finance means your employer, co-workers, clients, family and friends all look to you for your expertise

and advice. Wouldn’t it be great if you could put that expertise toward making a difference in your profes-sion, community — and most importantly, to YOU?

Checkout the many volunteer opportunities to help you do that on pg. 12. Serve on a committee, task force or project. You can choose how to best use your talents and interests, all with minimal time commitment. If you already volunteer on an ISCPA committee or task force, we’d love to have you back. If you’ve never volunteered before whether you’re a longtime member or new to ISCPA, you might wonder what’s in it for you. We could tell you, but thought you’d enjoy hearing it from a few people who’ve already been there.

Little did I know how much I would ben-efit from volunteering in terms of the great people I have met and remained friends with. Being involved has helped me with my career, and becoming more comfortable in group and social set-tings. We are fortunate to have such a wonderful group of people working for us at the ISCPA, and having active members who volunteer makes a tremendous impact toward a flourishing profession.

– Brad Hauge, Cedar Rapids, and ISCPA vice president

I love working with the ISCPA! Not only do I have the satisfaction of giv-ing back to the profession, I get to work with the Society staff and meet colleagues from around the state. It has been a very rewarding experience.

– Stef Lovin, Brooks Lodden PC, West Des Moines

I’ve enjoyed being involved on ISCPA committees because it gives me an op-portunity to work with a great group of people who are committed to making things better within their community and their profession.

– Patrick Meyer, Athene USA, West Des Moines

Feeling involved in the CPA profession and having an opportunity to make a difference is something I enjoy. Volun-teering has kept me better informed with what’s happening in the profes-sion around the country. I’ve made amazing connections and friend-

ships through the years, and those same people have helped me become a better leader and a better CPA.

– Amina Nuhanovic, EcoEngineers LLC, Des Moines

As a CPA who is no longer in practice, volunteering at ISCPA has been an ideal way for me to maintain my professional and personal connections with the in-dustry. My fellow volunteers, along with the Society staff, make it a rewarding and fun experience.

– Marc Salmon, Wells Fargo Bank Iowa NA, Des Moines

I’ve made many friends and met out-standing professionals from all over the state by serving on committees for the ISCPA. Plus, I’ve been blessed to work with Society staff who do so much to make the committees effi-cient and effective.

– Neil Schraeder, Hacker Nelson & Co PC, Decorah

Continued on page 13

2 | Iowa CPA | January 2016 www.iacpa.org

Issue No. 2016-01

Published eleven times per year by the Iowa Society of Certified Public Accountants (ISCPA). Send address changes, advertising in-quiries and all correspondence to:

1415 28th St., Ste. 450West Des Moines, IA 50266-1419

Email: iacpa@iacpa.orgWebsite: www.iacpa.orgor, contact the ISCPA office:515-223-8161/800-659-6375

Council Corner: A national viewBy Mark Wackerbarth, AICPA council representative

The AICPA 2015 fall meeting of Council was held Oct. 19-21 and focused on the pro-

fession’s resilience and relevancy in a time of ongoing complexity and change.

NASBA updateSince the release of the U.S. Department of Labor’s Employee Benefits Security Administra-tion (EBSA) report Assessing the Quality of Employee Benefit Plan Audits, NASBA has been working with EBSA staff to pursue several recommendations:

1. Collaboration between EBSA, NASBA and the AICPA to improve the investigation and sanctioning process for CPAs who perform significantly deficient audit work.

2. Encourage state boards of accountancy to require spe-cific licensing requirements, training and experience for CPAs who perform employee benefit plan audits.

3. Communicate the results of the study and ensure only competent CPAs perform em-ployee benefit plan audits.

CPE standardsThe Joint AICPA/NASBA CPE Standards Committee issued recommended revisions to add two new delivery methods for CPE programs: nano and blended learning. Nano-learning credits would be measured in one-fifth in-crements equal to 10 minutes, and require a minimum of one learning objective and an assessment of at least two questions. Blended learning includes different instruc-tional methods, delivery methods, scheduling or levels of guidance.

Next CPA examThe exam mission is to provide reasonable assurance to boards of accountancy that candidates who pass possess the technical knowl-edge and skill necessary for initial licensure to protect the public interest. Content knowledge is foundational, but not enough on its own. The exam needs to be easy to test, not an easier test.

Profession updatesAICPA President and CEO Barry Melancon provided an update on profession issues with perspec-tives on change — how, not if.

Diversity and inclusionThe National Commission on Diversity and Inclusion provided an update on the myths and reali-ties of diversity and inclusion, a vision of the Commission to cre-ate a seamless handoff from the pipeline to the profession, and a professional campaign: I am pres-ent and accounted for.

CPA pipelineNext steps based on research:

• Increase presence on cam-puses.

• Expand reach beyond four year colleges.

• Build community college initiative.

• Build relationships with aca-demics.

Audit qualityA report on enhancing quality next steps included competency driving quality, a new competency website, supporting adherence to standards and peer review update.

AssuranceEvolving and promoting the on-going relevance of assurance was discussed, including drivers of change and priorities for evolving assurance.

Council passes AICPA-CIMA resolutionThe proposed plan to expand the joint venture of AICPA and CIMA would integrate strategies, management and operations to advance the entire profession, public and management account-ing. Council passed a resolution, paving the way for a member vote on the expanded AICPA-CIMA joint venture this spring.

Other sessions included discus-sion on creating a retired CPA status under state laws, a report on finance and operations, and reports from the audit and nomi-nation committees.

Read the full report at https://goo.gl/t5Q5dn.

Mark Wackerbarth is a CPA and managing partner of Denman & Company LLP in West Des Moines. He is an ISCPA past president and has been a member since 1978.

www.iacpa.org Iowa CPA | January 2016 | 3

Tax extenders update: No more annual Section 179 death watchBy Joe Kristan

On Dec. 18, President Obama signed into law a tax extenders bill perma-

nently enacting a number of tax provisions that expired at the end of 2014. The law extends other provisions for shorter periods.

Key provisions to be enacted permanently, retroactive to the beginning of 2015 include, among others:

• $500,000 Section 179 deduc-tion limit.

• Five year “recognition period” for built-in gains taxes for C corporations electing to be S corporations.

• The ability of IRAs of tax-payers reaching age 70-1/2 to make $100,000 annual charitable contributions that will not be included in the IRA holder’s income.

• Research credit.• Alternative deduction for

state and local sales taxes.

Other provisions to be made per-manent include special breaks for conservation easements and the above the line deduction for out of pocket educator expenses.

50 percent bonus depreciation is to be extended from the begin-ning of 2015 through 2019, along with the Work Opportunity Tax Credit. To get the Democratic leadership to sign off on the deal, Republican negotiators agreed to make permanent the child tax credit, the enhanced earned income tax credit and the American Opportunity Tax Credit for col-lege costs.

At least 30 other

provisions are to be extended through 2016. The credits for biodiesel, renewable diesel, wind energy and residential solar are among these, along with the exclusion for qualified mortgage forgiveness and the above the line deduction for qualified col-lege costs. These shorter-lived extenders also include special interest confections such as the seven year depreciable life for speedways and special film ex-pensing rules.

There’s more than extenders here. This thing has 233 pages of stuff, much of which has nothing to do with extenders. A few of the major items noted:

• Acceleration of the deadline for filing W-2s with the gov-ernment from Feb. 28 to Jan. 31 for paper copies and March 31 for electronic filers. This is to make it easier to match refund claims to W-2s before refunds are issued, and is effective for W-2s issued for 2016 wages.

• Allowing the purchase of computers for students as a qualified Section 529 plan expenditure, ef-fective for 2015.

• A new chari-table de-duc-

tion for contributions to “agricultural research organi-zations.”

• New restrictions on the abil-ity to qualify as a tax exempt small insurance company.

• Moratorium on the ACA medi-cal device tax.

The annual extenders frenzy is bad tax policy. Now that the most important “temporary” provisions are not so temporary, maybe Congress will take a harder look at some of the special interest deals remaining in the list of regu-larly resurrected provisions.

Joe Kristan is a CPA, shareholder and tax technical director at Roth & Company PC in Des Moines. He has

been an ISCPA member since 1989.

Iowa CPA Day at the Capitol(hosted by the ISCPA LEAP Committee)

Thursday, Jan. 288 a.m. – 1 p.m.

Hear from leading legislative guest speakers and be guided through the process of meeting your legislators. This is a great opportunity to become

more informed on legislative policy and advocacy for your profession. Breakfast, lunch, transportation and 2 hours of CPE credit are included. Featuring: Guest speak-

ers Secretary of State Paul Pate, Gov. Terry Branstad and Dennis Goldford, professor of political science, Drake University and KCCI NewsChannel 8 political analyst.

To learn more and register for CPA Day at the Capitol, visit www.iacpa.org/CPA-DAY.

All members encouraged to

attend!

4 | Iowa CPA | January 2016 www.iacpa.org

In Balance: work/life well-beingBy Chawn Honkomp, Family and Workplace Issues Committee

Editor’s note: In Balance is a se-ries from Iowa CPAs featuring a variety of topics to improve your work/life well-being.

Retirement savings, college savings and estate plan-ning. Those are the three

topics that most of my clients are willing to discuss. While they aren’t necessarily enjoyable to discuss, most people agree that they are important for a com-prehensive financial plan. The one important topic that almost everyone wants to completely avoid? Disability insurance.

Maybe people don’t want to talk about this simply because of its name. Life insurance isn’t called “death insurance” so maybe dis-ability insurance should be re-named to “income protection in-surance” or “paycheck insurance.” This might give Americans a bet-ter understanding of the benefits and why they should purchase it. Odds are you already insure other assets like your home, car or fam-ily camper. So why not protect your most important asset – your income?

Protect your assetsDisability insurance helps protect your largest asset – your earn-ing potential. Why is that impor-tant? Because we all rely on our incomes. You will earn a lot of money during your career and you will likely count on this mon-ey to support every aspect of your lifestyle–the ability to save for retirement, buy cool stuff, pay bills, go on vacation, etc. (If you would like to see how much your current income is worth, calculate it at www.whatsmyeiq.org) Now comes the tough question: If you don’t have disability insurance, how do you replace this asset if you lose the ability to earn an in-

come due to a sickness or injury?

And remember, retirement savings are for retirement, so having an impressive retirement account is not the same as having disability insurance. If retirement savings are withdrawn prior to retirement to maintain your lifestyle during a disability, there may be little left by retirement. Disability insurance not only protects your income, it also allows you to preserve your other assets for their intended purposes.

One of my clients told me that she thinks of her disability insur-ance policy as the ‘warm and fuzzy’ aspect of her financial plan. It’s a policy that’s there to take care of her if faced with disability. She plans on living a long and healthy life, with plenty of vacations and discretionary spending. She purchased disabil-ity insurance because she rec-ognized that her life would look very different from the one she had planned if she didn’t have an income to support it.

Be preparedThe risk of a disability is more real than you may have consid-ered. Did you know that 1 in 4 of today’s 20 year olds will be-come disabled before they retire? You may believe that if you are relatively young and healthy you won’t get disabled. But think about this:

• In 2013, 41 percent of new dis-ability claims approved were for individuals under age 50.

• Ninety-five percent of disabili-ties are caused by illnesses, not injuries.

If you already receive employer-provided group benefits, such as group long-term disability (LTD) benefits, that’s a great start to protecting your income, but is it enough? You may think that

group LTD and other disability benefits, such as worker’s com-pensation and social security have you covered. But consider this:

• Group long-term disability benefits typically only cover about 60 percent of your gross income.

• Worker’s compensation only applies if you are injured on the job, less than 5 percent of disabilities are caused by injuries.

• Of the 2.5 million workers who apply for Social Security disability benefits each year, 68 percent are denied.

If income protection is a topic you’ve been avoiding, consider reviewing your need for it and include it as part of your financial analysis. If you aren’t sure where to start, a financial professional can help you understand the need for this insurance and design a customized policy that is in line with your goals and objectives.

Chawn Honkomp is a financial advisor with Principal Life Insurance Company and a registered representative of Princor Financial Services Corporation. Securities offered through Princor Financial Services Corporation, 800/247-1737, member SIPC. Principal Life and Princor® are members of the Principal Financial Group®, Des Moines, IA 50392. Chawn does not provide tax or accounting ser-vices on behalf of the Principal Fi-nancial Group. He can be reached at 515-971-3304. He has been an ISCPA member since 2000.

www.iacpa.org Iowa CPA | January 2016 | 5

Job: Fraud risk audit consultant, Nationwide Insurance

ISCPA member since: 2014

Alma mater: AIB College of Business, Associate of Business in Accounting; Graceland University, Bach-elor of Arts in Accounting and Business Administra-tion; Florida Atlantic University, Executive Masters of Accounting, concentration in forensics

Hometown: Earlham, Iowa

Expertise: CPA, CFE, CIA, CAMS, MAFF, CVA, ALMI

I was inspired to be a CPA because: The designa-tion carries the utmost respect behind it

Favorite thing about my job: I’m just starting a new role, but am very excited to lead such a great Fortune 100 company’s enterprise-wide fraud risk assessment

Passed CPA exam: 2006

Celebrated passing the CPA exam by: Moving to Atlanta for my first forensic accounting job

Professional/community activities: President of Des Moines Association of Certified Fraud Examiners, fraud awareness presentations

First job: Worked at a campground

When I have free time I prefer to: Spend it with my family

Favorite food: Pork chops

Favorite movie: Office Space

Last book I read: Children’s classic The Very Hungry Caterpillar by Eric Carle

In high school I was: Nerd, jock

I am passionate about: Continuous learning, sharing knowledge and insights with students and others through training and speaking

Favorite quote: “There are no secrets to success. It is the result of preparation, hard work and learning from failure.” – Colin Powell

Editor’s note: As any good sheriff would do, James kept a lid on some hot news until he had the proof. The day after our interview, he contacted us to share that he was offered a job opportunity at Nationwide Insurance. He starts his new role Jan. 4.

member spotlightJames Rumph

Waukee

James Rumph comes from a long line of family members who spent time in jail. Before you get the wrong idea, his family lived above the jail when he was born while his father was a sheriff in Northeast Iowa. Law enforcement runs in his blood — his grandfather and great grandfa-ther were also sheriffs — so it’s no surprise that James wanted to be a police officer as a kid, and studying accounting led him to forensics.

“I thought it was kind of nice to have the 150 hour requirement,” said James. “I used it as an opportunity to take criminal justice classes.” It’s unusual to hear a CPA say it was nice about the requirement, but James is no ordinary CPA. The poised and ambitious 31 year-old father of two already has quite a list of accomplishments.

While attending night classes to earn his BA, James worked full time at a CPA firm. After graduation, he was off to Atlanta as a litigation consultant for another CPA firm where he met his boss and future business partner. In 2008, he landed back in Iowa working for the FBI focus-ing on criminal fraud investigations. He transi-tioned to the insurance industry in 2011, leading two affiliated carriers’ day to day special inves-tigation units operations as a life and annuity forensic investigator. Then, he opened a two-person firm Aletheia Financial Forensics in Des Moines with his former boss, still in Atlanta. “I’ve been managing our business here while having consulting clients and speaking engagements both in Iowa and other parts of the country,” said James. “It’s been interesting and a bit of a roller coaster ride — I’ve billed as high as around 86 hours in a week and as low as around two.”

James has also been an adjunct instructor at AIB and Drake. “I enjoy speaking to others about what I do. People definitely find it intrigu-ing, and it helps bring more fraud awareness.”

James resides in Waukee with his wife Sara, sons Gavin (5), Mason (3) and Shih Tzu Oliver.

6 | Iowa CPA | January 2016 www.iacpa.org

A message from your board

The ISCPA Board of Direc-tors met Dec. 3, 2015, at the ISCPA in West Des

Moines. The board:

• Approved a draft resolution supporting next steps in the proposed joint venture be-tween AICPA and CIMA.

• Approved minutes of the Sept. 18 board meeting.

• Approved memorial contribu-tions to the Iowa CPA Educa-tional Foundation for Roy G. Duff, Carl W. Krell, Thomas L. Maher, Dale E. Matthews and Kenneth J. Wood.

• Accepted financial statements for the six months ended Oct. 31, 2015.

• Reviewed written reports submitted by committee chairs.

• Approved society long term investment policy statement.

• Received a report from ISCPA Vice President Brad Hauge.

• Received a report on the fall 2015 meeting of the AICPA Council from Mark Wacker-barth.

• Accepted a report from Jim Smith, chair of the Nominat-ing Committee.

• Reviewed the current lSCPA life membership category and roster of members granted “life member” status in ISCPA.

• Received a staff stewardship report summarizing activities of the staff since the previous meeting.

• Scheduled the next meeting for April 22, 2016.

New rule adopted and filed by IAEB

The Iowa Accountancy Examining Board (IAEB) adopted and filed multiple

amendments to ARC 2152C. As a reminder, this went into effect Nov. 4. Most of the changes were necessitated by Senate File 198, signed by the governor on March 31, 2015. The bill amends Iowa code chapter 542 which is the IAEB’s enabling act. The primary change is the amendment to the definition of “report” and the as-sociated changes to the breadth of services included in the defini-tion of “attest.”

Additional change to note is 193A-11.1 relating to:

The performance of preparation services under SSARS 21 does not alone subject a firm or indi-vidual to peer review, although if a firm or individual is other-wise subject to peer review, the reviewer may include prepara-tion services in the scope of practices reviewed.

View full information for 193A at https://goo.gl/CnJaeX.

View ARC 2152C: https://goo.gl/4vRzRN.

Is your accounting staff feeling overworked? Are you

struggling to find the resources to help with a special project? Did

you just lose a key person on your accounting/finance team and

can’t afford to go a day without them?

In today’s environment, most Accounting/Finance

departments cannot afford added stress.

Partner with the Palmer Group to provide you

cost-effective solutions to help lighten your load.

central iowa’s employment solution since 1998

Is your finance team stretched thin?

3737 Woodland ave, Ste. 200, WdM / 515.225.7000 / thepalmergroup.com

Learn about new tax return due dates

New due dates enacted this summer should make for a better workflow and solve

the problem of late Schedules K-1, which made it difficult to file a timely, accurate return under the prior-law deadlines. Find out more in this CPA Insider article at http://goo.gl/SDbPa1.

www.iacpa.org Iowa CPA | January 2016 | 7

…Need-to-know news and advice for leaders emerging in the accounting profession

LEAP forward

ISCPA’s LEAP Committee provides education, networking and de-velopment programs across the state for members 40 and under. Visit www.iacpa.org for detailed information about these events

and register today.

IPE 10311922 INGERSOLL AVENUE DES MOINES, IOWA 50309

515.279.1111 • 888.226.0400FAX 515.279.8788

WWW.IPE1031.COMINFO@IPE1031.COM

Manage Exchangeand Professional Riskwith the Midwest’s Premier Exchange

Resource

Lunch with LeadersThank you to the members who attended Novem-ber’s “Why Mentors Matter” Lunch with Leaders featuring Holmes Murphy Chairman and CEO Dan Keogh.

SAVE THE DATE!June 16 – TBD“Bring on the buzz: Lessons from a t-shirt shop”Featured leader: Mike Draper, owner, Raygun LLC, Des Moines

Aug. 11-12 – Greater Des Moines Botanical Gardens2016 Emerging Leaders Conference

Register at www.iacpa.org

REQUEST YOUR NO-OBLIGATION QUOTE TODAY! Lockton comprehensive 360° insurance for accountants:

• professional liability (errors & omissions/malpractice)

• cyber liability• business owners policy• workers’ compensation• employee dishonesty bonds• employment practices liability

Visit http://locktonprofessionalinsurance.com/professions/accountants/iscpa/ to learn how you can protect your

business and livelihood.

Comments due Jan. 31 on proposed changes to peer review

As a part of the profession-wide Enhancing Audit Quality Initiative, the

AICPA’s Peer Review Board is-sued an exposure draft outlining proposed changes to the AICPA’s current standards for performing and reporting on peer reviews. The proposals would enhance the focus of reviewed firms on the proper design and operat-ing effectiveness of their quality control systems. They are also intended to reinforce the need for adequate planning and prepara-tion for a peer review by firms and peer reviewers alike. Please submit comments by Jan. 31 to PR_expdraft@aicpa.org.

8 | Iowa CPA | January 2016 www.iacpa.org

Classified adsSENIOR FINANCIAL ANALYST-GREAT OPPORTUNITY–Beef Products, Inc. is a growing com-pany known for its competitive pay, benefits, and opportunities for advancement that is located in the Sioux City, IA area. This highly regarded role will develop, analyze, and interpret account-ing information. Examine financial statements and documents in conformance with GAAP. Re-sponsible for budgeting, fore-casting, and presenting financial reports to management and owners. Provide guidance to company personnel to ensure the utilization of proper accounting procedures along with develop-ing controls and new accounting processes within the account-ing system. The position will also perform month-end closing activities. CPA is preferred. Post offer physical and substance

testing required. EOE/AA. For more details, contact Jeff Olsen at 605-217-8130 or apply on-line at www.beefproducts.com.

CAREER OPPORTUNITY-Senior Manager, Corporate Finance and Investment Banking–This is a key member of the corporate devel-opment team leading financing strategy and M&A decisions. Central Iowa location. Analyze and evaluate potential opportuni-ties in a fast paced environment. Requires a CPA, MBA, and experi-ence in complex financial model-ing, leading high performance teams, and international invest-ment banking and debt markets. Overnight travel required. For confidential inquiry, contact Miles Morrow, CPC, Iowa Career Con-nection: 515-282-5823 or mor-row@iowacareerconnection.com. We are retained by our clients who pay all fees.

STAFF ACCOUNTANT–North-west Financial Corp. in Arnolds Park, IA, has a great opportunity to join a progressive, community-minded banking organization! Re-sponsibilities include providing ac-counting support and preparation of Regulatory and Management Reports at the Holding Company. Qualifications: Degree in Account-ing/Finance, CPA Exam Quali-fied, and 2-5 years’ experience in public accounting and banking preferred. Must be analytical, have strong verbal and written commu-nication skills. For more informa-tion, apply online today at www.bank-northwest.com and click on “Employment.”

IOWA PRACTICES FOR SALE: Waterloo Area Tax & Account-ing Practice–gross $533K; Cedar Valley Area Tax & Accounting Practice–gross $394K; Central IA (near Des Moines) CPA Prac-tice–gross $195K; Northeast Iowa (Near Waterloo/Cedar Rapids) Tax & Acctng–gross $240K. For more information about these

great listings or others in your area, call 1-800-397-0249. View listing details and register for free email updates at www.Account-ingPracticeSales.com. Thinking of Selling Your Practice? Account-ing Practice Sales is the leading marketer of accounting and tax practices in North America. We have a large pool of buyers, both individuals and firms, looking for practices to purchase. We also have the experience needed to help you find the right fit for your firm, negotiate the best price and terms and get the deal done. To find out more about our risk-free and confidential services, call Trent Holmes at 1-800-397-0249 or email trent@accountingpractic-esales.com.

TAX & AUDIT CPA–Shull, Schrum, McClaflin & Co, Inc seeks a CPA with 2-4 years of tax or audit experience. We are an established full-service CPA firm with offices in two central Iowa towns. We of-fer a competitive salary and excel-lent benefits, as well as advance-ment potential. Candidates must be self-starter and able to work with a wide variety of clients, corporate and individual. Email resume to delgin@shullco.com.

ASSISTANT CONTROLLER–Holmes Murphy, located in West Des Moines, is seeking a highly dependable and motivated pro-fessional to take on the role of Assistant Controller. If you would like to advance your career with a privately held, entrepreneurial firm, apply today! CPA Preferred. Application link: https://home.ee-ase.adp.com/recruit/?id=15016281

For ad rates and deadlines, visit: www.iacpa.org.

1-800-397-0249The Holmes Group

www.AccountingPracticeSales.comtrent@accountingpracticesales.com

When it is time to transition out of your practice you want to do it right. We are the largest facilitator in North America for selling accounting and tax practices. We provide a free estimate of your firm’s value, market extensively, assist in negotiations and find you the right situation. Contact us today so your last decision will be your best.

YOUR LAST DECISIONIS THE BIGGEST.

www.iacpa.org Iowa CPA | January 2016 | 9

New membersRichard A BeanDubuque, IA

Amy J CameronCliftonLarsonAllen LLPWest Des Moines, IA

Valorie M CollingwoodWinkel Parker & Foster CPA PCIowa City, IA

Matthew P GarnerBlair Westfall & Co PCDavenport, IA

Justin L GoetschKiesling Associates LLPWest Des Moines, IA

Melissa J GonnermanUnityPoint Health–Corporate

FinanceWest Des Moines, IA

Lindsey T O’NeilRSM US LLPDes Moines, IA

Andrew W ShipleyWells Fargo Audit Services IncWest Des Moines, IA

Jessica L SimbroKonek PCPrairie City, IA

Marc T WamplerRSM US LLPDes Moines, IA

Brett M ZellerDes Moines Public SchoolsDes Moines, IA

Members in the newsErik K. Bonstrom, LWBJ LLP, West Des Moines, was promoted to partner.

Kimberly K. Bakey, HomeSer-vices of Iowa, West Des Moines, was promoted to chief executive officer.

Brooke L. Schupbach has joined Farmers Mutual Hail Insurance Company of Iowa, West Des Moines, as staff accountant.

The following personnel have been hired by McGowen Hurst Clark & Smith PC, West Des Moines: Kayla Vandehaar as se-nior accountant and Sara A. Sy-chowski as staff accountant. The Winterset office hired Angela M. Hasbrouck as staff accountant.

Send your member news to iacpa@iacpa.org.

New student affiliatesCalifornia State University BakersfieldChristopher D. Bodirsky

Colorado State University Global CampusRobert Ellis

Des Moines Area Community CollegeMarat Chynybaev

Drake UniversityRyan P. KennedyShannon N. LyonsClaire Van Treeck

North Iowa Area Community CollegeJonica L. Hernandez

University of IowaKelsi Larsen

Western Illinois UniversityLeo J. Marlowe

Western Iowa Tech Community CollegeTanya S. McPeekTrent D. SutterBritny A. Van Dyke

Committee offers non-profit organization tipsSteve Marlow, Nonprofit Organizations Committee chair

The ISCPA Nonprofit Orga-nizations Committee has created a new publication

Nonprofit Organizations Tips, to help nonprofits organize and maintain their tax exempt status and address many of the com-mon issues faced by them and their governing bodies. Featuring tips on nonprofit organization and formation, governance, opera-tions, and other considerations and resources, the brochure also includes helpful website links that direct you to expanded resources.

The layout of the brochure pro-vides space on the back for your firm or business to stamp or label with your logo or other informa-tion. Order brochures to distribute to clients and use as a marketing piece in your community, or as a pdf file to display on your website.

Contact ISCPA at iacpa@iacpa.org for more information or to order your copies.

Order now!Orders will be shipped (print) or emailed (pdf file) the week of Feb. 15. Orders must be prepaid by Jan. 29

Note: A limited number of copies will be ordered. Requests received after Jan. 29 will be filled on a first-come, first-served basis, depending on availability.

10 | Iowa CPA | January 2016 www.iacpa.org

January

11 Preparing Individual Tax Returns For New Staff and Para-Professionals (PITR-IC)

Coralville

March

21 Controller’s Update: Today’s Latest Trends (SKSB4-SF) Sioux Falls

21 Real World Business Ethics for CPAs in Business and Industry (BIRW4-SF)

Sioux Falls

22 Lean Accounting: Higher Profits by Streamlining Operations (LAMA-SF) Sioux Falls

April

19 Analytics and Big Data for Accountants (DAAN-CR) Cedar Rapids

20 Annual Update for Controllers (SKSB) West Des Moines

21 Analytics and Big Data for Accountants West Des Moines

27 Ethics in Action: Protect and Defend (EIA-IC) Coralville

27 Staff Retention: Attract and Keep the Best People (SR-IC) Coralville

28 4 Most Overlooked Business Risks: Preparing for the Future (MOBR-IC) Coralville

CPE spotlightISCPA offers over 150 seminars and educational opportunities annually to help you meet your continuing professional education requirements. View or search for ISCPA courses at www.iacpa.org.

CPE spotlightHOT! CPERegistration is available for these CPE options for accounting professionals working in business and industry

Jim Lindell

April 19 - Cedar Rapids Analytics and Big Data for Ac-countants

April 20 - West Des Moines Annual Update for Controllers

April 21 - West Des Moines Analytics and Big Data for Ac-countants

Dan Chenoweth (Coralville)

April 27 Ethics in Action (morning)

Staff Retention: Attract and Keep the Best People (after-noon)

April 28 4 Most Overlooked Business Risks: Preparing for the Future

Seminars for CPAs in public accountingMay 16 - West Des Moines

Local Government Update

May 25 - Eastern Iowa Current Practice Issues & Up-dates for Audits of Employee Benefit Plans

May 26 - West Des Moines Audits of Defined Contribution Pension Plans (Emphasizing 401(k) Plans)

June 6 - West Des Moines Governmental Accounting & Auditing Update

June 15-16 - West Des Moines Form 990 Seminars

www.iacpa.org Iowa CPA | January 2016 | 11

United Way seeks tax preparers

United Way of Central Iowa is looking for volunteers to provide free tax prepara-

tion for low- to moderate-income central Iowans. VITA (Volunteer Income Tax Assistance) sites are located in Des Moines and sur-rounding communities, and open daytime, evening and weekend hours beginning in late January through April 18. But hurry! Vol-unteer training begins Jan. 5-6. To learn more or to sign up, visit www.unitedwaydm.org/vita.

Jim Rothermich Certified General Appraiser

& Real Estate Agent: Iowa, Illinois, Minnesota, Missouri,

Nebraska, & South DakotaReal Estate Agent:

Iowa & Missouri

AccountantsLook Here!

Clive, Iowa • (515) 493-9865JRothermich@PeoplesCompany.com

A seismic shift in farmland ownership is occurring. Do you need professional farm appraisal services,

expertise in land brokerage, land management, or land investing? As a part of one of the

Midwest’s fastest growing real estate companies, I have the resources to help you!

Farm appraisal • Land Brokerage Land Management • Land Investing

Thank you, members

Thank you to the following members for writing articles published in Iowa CPA last year. Do you have an idea for a one-page article that you think would be of interest to other members? We wel-

come a variety of topics and no writing experience is necessary. Please contact Cheryl Miller at cmiller@iacpa.org if you’re interested.

Dave Farnsworth, shareholder, McGowen Hurst Clark & Smith PC, West Des Moines

Kristin Glick, associate, Timmins Kroll & Jacobsen LLP, Urbandale

Karen Hallagin, director of fi-nance, TARSCO Inc, West Des Moines

Angie Healy, Henkel & Associates PC, Boone

Emily Heeren, finance manager, DuPont Pioneer, Johnston

Chawn Honkomp, financial advi-sor, Principal National Life Insur-ance Company, Des Moines

Matthew Kelderman, Kroese & Kroese PC, Sioux Center

Bill Lipkea, shareholder, Koch Platner & Reed PC, Cedar Rapids

Ted Lodden, managing share-holder, Brooks Lodden PC, West Des Moines

Stef Lovin, senior audit manager, Brooks Lodden PC, West Des Moines

Steve Marlow, CFO, Care Initia-tives Inc, West Des Moines

Stephanie Mendenhall, owner, Stephanie A. Mendenhall CPA PC, Humeston

Connie Muell, manager, Tunink Murray Financial Group, West Des Moines

Aaron Olson, T P Anderson Com-pany PC, Humboldt

Kendall Roberts, vice president accounting operations, Wells Far-go Home Mortgage, Des Moines

Tina Stubbs, assistant control-ler, Royal Neighbors of America, Rock Island, Ill.

Derick Tallman, IT security & compliance manager, Access Sys-tems, Waukee

Julie Thelen, senior financial ac-counting analyst, Principal Finan-cial Group, Des Moines

Todd Thorson, partner, Kiesling Associates LLP, West Des Moines

Emily Van Kley, accounting and finance recruiter, HireQuality So-lutions, Johnston

Calvin VandeKrol, vice president of finance, National Pork Board, Clive

Mike Volkens, financial account-ing analyst, Principal Financial Group, Des Moines

Mark Wackerbarth, managing partner, Denman & Company LLP, West Des Moines

Lori Vander Werff, controller, Mary Greeley Medical Center, Ames

Mark your calendar!2016 Annual Meeting & Leadership ConferenceFriday, May 6 | Sheraton West Des Moines

National leader-ship speaker Steven Fulmer

Author of Leadership Just Got Personal

Iowa Nice Guy Scott Siepker

12 | Iowa CPA | January 2016 www.iacpa.org

2016-17 Volunteer OpportunitiesVolunteer term is one year beginning May 1, 2016 through April 30, 2017

Student and Career Outreach

Career Awareness CommitteePromote the accounting profession and CPA cre-dential to college students. Provide education on career opportunities as a CPA.

Diversity and Inclusion Task ForcePlan and recommend an objective and initiatives to the ISCPA board for the establishment of a Diversity and Inclusion Committee.

Iowa CPA College PanelistRepresent ISCPA as a panelist at college outreach events to educate students about being a CPA.

Iowa CPA Education Foundation Advisory CommitteeProvide input to ISCPA on foundation development.

Represent and Advance the Profession

Financial Literacy CommitteeEducate Iowans on how to make good financial de-cisions.

NEW! Iowa CPAs Month of Service CommitteeAssist in planning the second annual Iowa CPAs Month of Service event in September 2016.

Development and Networking

NEW! Business and Industry Task ForceExplore issues and make recommendations to support the specific needs of members in business and industry, with a focus on invigorating profession engagement among industry CPAs and their ability to provide value to their employer and career.

Family and Workplace Issues CommitteeProvide a member forum to address professional and personal life balance issues. Foster awareness

of family and workplace issues as they relate to the accounting profession.

LEAP CommitteeProvice input on community, educational, and social projects and events to engage members 40 and younger.

Regional Alliance CommitteeProvide input to ISCPA for events in your region of the state (NW, SW, Central, NE, SE).

Technical and Industry Expertise

Financial Institutions CommitteeServe as a resource for members serving or employed in the financial services arena.

Governmental Auditing and Accounting CommitteeEncourage excellence in performance of professional services related to auditing and accounting for gov-ernmental units. Work with appropriate regulatory bodies. Provide relevant educational opportunities.

Insurance Industry CommitteeProvide a forum and relevant educational opportuni-ties for members in the insurance industry.

Nonprofit Organizations CommitteeServe as a resource for members serving or employed in the exempt organizations arena. Analyze and rec-ommend educational opportunities in not-for-profit accounting, auditing, governance, compliance and taxation.

Taxation CommitteeOffer technical assistance to members and keep them informed of significant changes in taxation laws. Increase public understanding of CPA’s spe-cialized competence in the taxation field.

Advocate

Key Person ProgramWith assistance from ISCPA, establish and maintain communications with one or more legislators to rein-force the work of ISCPA’s lobbyist and staff.

Legislation CommitteeAssist in the formulation and execution of ISCPA legislative policies as authorized by the board of directors. Provide financial support to candidates for the Iowa Legislature through the Iowa CPA Political Action Committee (ICPA/PAC).

www.iacpa.org Iowa CPA | January 2016 | 13

“ ””“ ”“

membership

100%Congratulations to the following

companies for enrolling in the 100% Membership Commit-

ment Program! Are all of your organization’s CPAs members?

Learn more at www.iacpa.org or contact Michelle Thompson at

mthompson@iacpa.org:

Volunteering has given me the opportunity to promote the profession while connecting with other CPAs. Hear-ing their successes and challenges has helped me when facing my own career obstacles.

– Ashley Sly, McGowen Hurst Clark & Smith PC, West Des Moines

I volunteer to give back to the profession. I’ve been so fortunate with the many opportunities that this profession has provided me. Volunteering has allowed me to work with others toward a common goal.

– Derick Tallman, Access Systems, Waukee

The tax committee has provided me with ideas and insights into areas I couldn’t get anywhere else, allowing me to manage our tax practice more effectively.

– Todd Thorson, Kiesling Associates LLP, West Des Moines

See pg. 12 for a list of volunteer opportunities. To learn more including projects you will be involved with and expected time commitment, visit www.iacpa.org/membership/volunteer.

Ready to volunteer? Sign up at https://www.surveymonkey.com/r/ISCPA_Comm_Vol. Survey open through March 31, 2016.

NOTE: Volunteer term is May 1, 2016 to April 30, 2017. You will receive information about your committee, task force or other role in April or May of 2016.

What difference does it make?Continued from page 1

DUES PAID

DUES UNPAID

(Thanks, you’re awesome!)

(That’s okay. Renew

now at www.iacpa.org!)

Presorted StandardU.S. Postage

PAIDDes Moines, IowaPermit No. 34331415 28th Street, Suite 450

West Des Moines, IA 50266-1419

Grow your nest egg,

not your tax bill.

Qualified intermediary

services for all types of

Section 1031 exchanges

800-805-1031 • 515-224-5259

4800 Mills Civic Pkwy Suite 205

West Des Moines IA 50265

iowaequityexchange.com

Ken Tharp

INTEGRITY. PRECISION. SECURITY.

2½ x 4¾

ISCPA seeks key persons

The Key Person Program is a grassroots member exten-sion to the ISCPA’s govern-

mental affairs efforts in Iowa and in Washington, D.C., the success of which depends on personal relationships and communications between CPAs and elected repre-sentatives.

When you volunteer to be a key person, you will assist the ISCPA during the legislative session by making calls or sending emails to your legislators when issues arise. We make it easy by providing the necessary information and talking points on topics when needed.

The program offers members the opportunity to:

• Be informed and understand legislative issues in the profes-sion.

• Share your viewpoints with local legislators.

• Ensure that legislation will protect CPAs’ agenda.

• Safeguard the integrity of the profession.

• Help recognize CPAs as a political power.

• Be viewed as a leader when you’re able to discuss issues with your boss, co-workers, clients and community.

Are you interested in strengthen-ing or establishing a relationship with your legislator? It’s simple, and it’s a great way to bolster your career and personal knowl-edge about the political process. (Some even say it can be fun!) And we are here to help you along the way.

Contact Cindy Adams at cad-ams@iacpa.org or 515-223-8161/800-659-6375 if you have questions about the program. Sign up or learn more at www.

iacpa.org/advocate/get-in-volved. View a list of your fellow Iowa CPAs who volunteered as key persons in 2015 at https://goo.gl/YKakea.

What it’s like to be a key person“When I volunteered to do this several years ago, I was very nervous at first but the Society made it easy. They provided good training and talking points. Now I know all my lo-cal legislators and have a very good relationship with them. They always respond to my call or emails and will reach out to me if they have questions on tax legislation.”

– Gary Carlson, partner, Carlson Hartsock & Guither PLC,

Iowa City