On Balance Magazine - May/June 2025

Features Columns

Stacy A. Stinson, CPA, MBA, assistant professor of accounting at Concordia University, takes the reins as 2025–2026 chair of the WICPA board of directors.

By Sharon Zalewski

Amid massive tariff restructuring, businesses that purchase goods from outside the U.S. must be vigilant. By Jeff Van Winkle,

New guidance from the IRS on the Employee Retention Credit program marks a sharp departure from its original position.

By James D. Brandenburg, CPA,

The role of the auditor during periods of economic uncertainty

Economic uncertainty elevates the auditor’s role in providing unbiased and accurate third-party assessments.

By Steven Brokish, CPA

Business valuations: What CPAs need to know

Business valuation formulas are far more complex than they seem.

By Lisa Cribben, CPA/ABV, ASA,

CMA

Face time vs. Facetime

Wisconsin firms take different paths as they navigate the remote-work landscape.

By Ken Wysocky

What you need in a CAS tech stack

Combining the right software and applications can help your CAS practice produce higher earnings. By

Ayala Clinkman, CPA, PMP

The taxes two-step

The budget resolution passed, and congressional committees are now working on a tax bill.

By James D. Brandenburg, CPA, MST

Incorporating AI into continuous

With technology reshaping firm operations, continuous improvement is an absolute must.

By Amanda Wilke, CPA

On Balance is published five times a year by the Wisconsin Institute of Certified Public Accountants (WICPA). Change of address should be sent to: Membership, W233N2080 Ridgeview Pkwy, Suite 201, Waukesha, WI 53188; Phone: 262-785-0445 or 800-772-6939; Fax: 262-785-0838; email: comments@wicpa.org. Statements and opinions expressed are those of the authors and not necessarily those of the WICPA. Publication of an advertisement does not constitute an endorsement of the product or service by On Balance or the WICPA. Articles may be reproduced with permission. © Copyright 2025 On Balance

Chair

Stacy A. Stinson, CPA, MBA

Chair-elect

Neil R. Keller, CPA

Past Chair

Ryan J. Hanson, CPA, CGMA

Secretary/Treasurer

Christopher M. Cholka, CPA, CGMA

Directors

Michael D. Donahue, CPA

Jessica B. Gatzke, CPA, MST

Benjamin J. Hauser, CPA

Tori M. Morrow, CPA, CGMA, MBA

Sali L. Sheafor, CPA

AICPA Council

Neil R. Keller, CPA

Wendi M. Unger, CPA

If you have not yet renewed your 2025–2026 membership, visit wicpa.org/renew for quick and easy online payment to keep your valuable member benefits coming, including On Balance magazine.

Pay your dues in the “My WICPA” section on the WICPA website. For information regarding your membership, contact Grace Hein at 800-772-6939 ext. 4517 or membership@wicpa.org.

“I would like for you to join me in creating an even stronger, more engaged organization by taking advantage of what your membership has to offer, both personally and professionally.”

The WICPA as a Career Partner

By Stacy A. Stinson, CPA, MBA

As I continue my WICPA board of directors service as chair, I am reminded of the positive impact that our profession has on individuals, families, businesses and society as a whole. We help ensure the financial health and wellness of those we support in the state of Wisconsin and beyond. I am proud to be a member of this organization, working alongside a strategic board and amazing operational staff poised and ready to take on the challenges and evolution that the upcoming year will bring — and having some fun along the way. The WICPA is a strong organization that effectively represents us at both the state and national levels. At the core, our mission states, in part:

The WICPA serves the diverse needs of our members; enhances professional competency; promotes the value of members and the profession; advocates on behalf of the profession; and builds community among members.

We collaborate, share information, and help and support one another as our profession evolves. Over the next year, we will continue to face decisions related to the accounting pipeline. We will need to keep a watchful eye on state and national legislative changes. We will need to provide relevant training opportunities to support members as they navigate the ongoing changes in accounting standards, government regulations and the impact of artificial intelligence. We will need to continue encouraging and providing a pathway to the profession for our high school and college members who follow in our footsteps. The WICPA staff is ready. The board is excited. I am excited, and I would like for you to join me in creating an even stronger, more engaged organization by taking advantage of what your membership has to offer, both personally and professionally.

Here are some areas where you can begin:

1. Learn more about the WICPA and how to take advantage of your membership. Join a quarterly Zoom membership webinar hosted by WICPA President and CEO Tammy Hofstede to hear about benefits and volunteer opportunities and learn more about the WICPA.

2. Attend a CPE session. The WICPA has a number of complimentary and low-cost, in-person or livestreamed sessions for your personal and professional development.

3. Lend your expertise to the organization. Join a committee that aligns with your interests, such as public policy, young professionals, accounting careers or planning for the Fall or Spring Business and Industry conference. We would love to have you visit a classroom, present to students in the Young Entrepreneurial Scholars (YES) program, sit on a panel, attend a career fair or host a visit from an accounting club.

4. Attend a fun event such as Bowling Night or the Golf Outing. Enjoy the community of professionals, invite friends or make new ones.

5. Be an ambassador for the organization. Share our website with accounting colleagues. Place a sticker on your computer or a swag item on your desk. Participate in our social media communities by sharing posts and using hashtags (#WICPA), or send in a picture of yourself supporting the profession at a local event. Participate in the K-4 Reading Makes Cents program (April) or the high school Accounting Careers Month program (November).

We do not take lightly your service to and membership in the organization. We honor, value and respect your financial support and the time you spend supporting our initiatives. My commitment is to foster a culture of engagement and collaboration. I invite each of you to join me in making the most of our shared community, embracing the opportunities it offers and contributing to our chosen profession.

In service to the membership and the profession, – Stacy A. Stinson

Stacy A. Stinson, CPA, MBA, is assistant professor of accounting at Concordia University and the 2025–2026 WICPA board of directors chair. Contact her at 262-243-2099 or stacy.stinson@cuw.edu.

IN TOUCH | PRESIDENT & CEO’s MESSAGE

“Your continued support, participation and commitment to the accounting profession mean a great deal. Whether through your time, energy or contributions, you’ve helped make a meaningful impact, and for that I’m truly grateful.”

Building a Stronger Presence

By Tammy J. Hofstede

As our fiscal year closed on April 30, I would like to reflect on our activities and achievements — which were made possible by your support. I am excited to highlight and share our successes with you.

Connecting

The past year we had a primary focus on outreach and relationship building. One of the greatest benefits of being a WICPA member is the sense of connection it cultivates among each other and the community.

We created a “WICPA in Action” section of this magazine to highlight the activities and outreach of our members. A few of those I’d like to highlight relate to our student outreach, which is supported by our Educational Foundation. We are committed to attracting, developing and retaining accounting talent. This includes engaging students early and promoting the value of the CPA designation.

College: A number of presentations were done at various colleges throughout the state, focusing on career opportunities and the CPA Exam. We also partnered with several colleges — such as UW–Whitewater, Carthage College and the Wisconsin Private College Career Consortium — to connect students with resources regarding the profession.

High school: The governor’s proclamation to recognize November as Accounting Careers Month coordinated with our Level Up With Accounting campaign. We also were present at DECA, FBLA and UW–Whitewater’s Explore Accounting Day. We reached over 3,000 students with our high school outreach efforts this year.

With over 50 high school educators attending the High School Educator Accounting Symposium, we connected educators with colleges and CPAs and collaborated with SecureFutures and their Money Path program to assist students with a free career exploration and financial literacy tool.

An exciting highlight of the year was the media attention from Fox 6 News about the Educational Foundation’s Reading Makes Cents program. WICPA member Neil Keller, CPA, was featured reading a book to a second-grade classroom and having a discussion about the basics of money and saving. In addition, I was also interviewed to explain the program and the importance of financial literacy and member outreach. We again reached nearly 1,500 students this year — and about 25,000 students since the program started in 2009!

We took our marketing to external ads, emphasizing “Connecting Leaders, Protecting Wisconsin,” to illuminate the importance of the WICPA and CPAs being trusted advisors. Several feature articles about the WICPA were also published across the state.

We continued assisting students who requested CPA Exam extensions from the Department of Safety and Professional Services (DSPS) and helped over 50 applicants obtain their CPA licenses.

Advocacy

The WICPA proposed legislation to equalize interest charged on over- and underpayments by the Wisconsin Department of Revenue. The bill passed the House and the Senate last year; however, it was vetoed by Gov. Tony Evers. We are revisiting that legislation and will propose a revised bill with review and recommendations from our Legislation Review Committee.

The WICPA provided written testimony and comments to the Accounting Examining Board to support and clarify extending the time allowed to pass the parts of the CPA Exam. The effective date of May 1, 2025, extended the rolling period of credit to pass all sections of the CPA Exam from 18 to 30 months and clarified that the period begins on the date of notification that the first section is passed.

Although FinCEN issued an interim final rule that removed the requirement for U.S. companies and U.S. persons to report beneficial ownership information to FinCEN under the Corporate Transparency Act, the WICPA was on top of the continuous discussion and changes, keeping our members up to date by meeting with the State Bar Association and our lobbyists, creating a panel at the Tax Conference and inviting a presenter from FinCEN to our Accounting & Auditing Conference.

Along with nearly 30 other state CPA societies, the WICPA board of directors approved moving forward with a third pathway to licensure, including a bachelor’s degree with a concentration in accounting, passing the CPA Exam and two years of experience. We also plan to propose legislation to remove barriers to working in Wisconsin with automatic mobility. Drafting of legislation is currently in process.

Your continued support, participation and commitment to the accounting profession mean a great deal. Whether through your time, energy or contributions, you’ve helped make a meaningful impact, and for that I’m truly grateful.

Thank you to our Reading Makes Cents & Accounting Careers Month volunteers!

Brian Barrett

Kathy Blumenfeld

Kelli Bonack

Jenny Daniels

Lynn Fischer

Sheila Fisher

Jason Haen

Kurt Heling

Heather Hafeman

Chad Helminger

Patricia Holland

Kim Hollermann

Wendy Johnson

Neil Keller

William Korducki

Amanda Linehan

Patricia Locante

Martin Mathias

April Menz

Christopher Olson

Erin Ong

Carin Pardun

Erin Proctor

Brett Rimkus

Seth Robertson

Valerie Schroeder

Sali Sheafor

Stephanie Suchla

Angela Thomas

Bridget Van Laanen

Tammy J. Hofstede is president & CEO of the WICPA. Contact her at 262-785-0445, ext. 4518, or tammy@wicpa.org.

Strengthen

Secretary Kathy Blumenfeld and Angela Thomas read to the students at Northside Elementary for the WICPA Reading Makes Cents program.

A behind the scenes view of Neil Keller’s visit to Pewaukee Lake Elementary School for Reading Makes Cents featured on FOX6.

Members of the WICPA had a great time at this year’s Bowling Night at New Berlin Ale House.

Tammy Hofstede (left) and Abbie Daly (right) pose with UW-Whitewater accounting student Omunazia Hicks during the WICPA sponsored Explore Accounting Day at UW-Whitewater.

Tammy Hofstede spoke to high school students and accounting educators at the UW-Whitewater Explore Accounting Day in April.

The WICPA particpated in the FBLA event at the KI Convention Center in Green Bay. 1,000 students were present.

Thank you 2024 CPAC & LIF Contributors!

INNER CIRCLE

William Coleman

Jeff Dewane

CABINET

Abraham Leis

Mary Werner

LEADERSHIP

Jeffrey Danen

Jeffrey Dvorachek

Jessica Gatzke

Holly Hoffman

Randall Miller

Matthew Schaefer

Vincent Schamber

Chad Zeller

PACESETTERS

Heather Acker

Christine Anderson

Joseph Balus III

Kelly Baumbach

Donald Bernards

Todd Bernhardt

Douglas Berry

Paul Bishop

Ann Blakely

Jeffrey Blattner

Cindy Bratel

Damon Busse

Daniel Buttke

Todd Carpenter

Christine Dahlhauser

Brad DeNoyer

Chad Derenne

Emily Di Nardo

Andrew Dilling

Jodi Dobson

Dave DuVarney

Daniel Ehr

Brigid Elliott-Boger

Kayla Flint

Paul Frantz

Michael Friedman

Joshua Ganshert

Lynn Gardinier

Stephanie Gensler

Alyssa Geracie

Daniel Glomski

Garrett Gosh

Brenda Graat

Nicole Gralapp

Scott Haumersen

Sheanne Hediger

Micheal Herman

Nicholas Hinz

Justin Hoagland

Kirsten Houghton

Tina Huisman

Wade Huseth

Bruce Hutler

Chase Inda

Tyler Inda

Andrea Jansen

Jeffrey Jaschinski

David Johnson

Eric Kegler

Neil Keller

Amanda Klein

Trenton Kleist

Andrew Koelbl

Kaitlin Konyn

Thomas Krieg

Eric Kroll

David Laske

Ryan Lay

Brittany Leonard

Robert Long

Allan Mader

Kyle Mair

Ryan Maniscalco

Andrew McCarty

Nancy Mehlberg

Theresa Meiners

Deanna Merryfield

Shelby Netz

Matthew Nitka

Chad O’Brien

Anthony Ollmann

Jason Page

Krista Pankop

Jacob Peters

Ashley Pharo

Brian Rozek

John Runte

Bethany Ryers

Donna Scaffidi

Kevin Schalk

Christopher Schmidt

Thomas Sheahan

James Smolinski

Gregory Sofra

Christopher Tait

Corey Tremaine

Eric Trost

Wendi Unger

Thomas Unke

Christopher Van Straten

Matthew Vanderloo

Nathanael Voss

Brent Wagner

Colin Walsh

Peter Wautlet

Brooke Weitzer

Cory Wendt

Glen Weyenberg

William Wong

Aaron Worthman

Laura Zach

Natalie Zuege

OTHER CONTRIBUTORS

Richard Anheier

Donald Betthauser

Steven Brettingen

Donald Broesch

Dana Brunstrom

Cheryl Connor

Richard Dieffenbach

Janet Egan

Fred Farris

Jeffrey Frank

Alan Giuffre

Randall Grobe

Steven Handrick

Glen Helmbrecht

Christopher Hendricks

David Henningfield

Wayne Huberty

George Jaloviar

Brian Kelley

Terri Lillesand

Richard Lindgren

Lucretia Mattson

Paul Nyffeler

Daren Powers

Ralph Redlin

Douglas Rogers

Richard Spencer

Donald Stacy

Martin Thomas

Lynn Visser-Young

Roberta Ward

PACESETTER LEVEL ORGANIZATIONS

Alliance Advisors, LLC

Baker Tilly

Coleman & Williams, Ltd.

Hawkins Ash CPAs, LLP

Sales Tax Advisory Network, LLC

Scribner, Cohen and Company, S.C.

SVA Certified Public Accountants

Vinton Construction Company

OTHER ORGANIZATIONS WITH EMPLOYEE CONTRIBUTIONS

Broesch & Co., S.C.

Cheryl A. Connor, CPA, LLC CLA–Milwaukee

Dana E. Brunstrom, CPA LLC

Daren J. Powers, CPA

Dieffenbach & Associates, s.c.

Egan Financial Services

Encore Homes, Inc.

Farris Consulting, Inc.

Frank & Frank, LLP

Handrick Consulting, LLC

Henningfield and Associates, LLC

Hintz Giuffre CPAs, S.C. Honkamp, P.C.

Inland Power Group, Inc.

Kempen & Company LLC

KerberRose S.C.

Paul Nyffeler, CPA

Sikich

Class Act

Stacy Stinson, CPA, MBA

Photography by Front Room Photography

it would be to shape someone’s future in this way.”

Today, lessons learned from her own college studies and 21 years as a corporate accountant infuse Stinson’s class curricula. After internships at Blue Cross Blue Shield and Ernst & Young, she received her BBA in accounting from the University of Wisconsin–Milwaukee Lubar College of Business and began her career as a corporate auditor with Philip Morris Management Corp. Stinson earned an MBA in management from the University of Wisconsin–Madison School of Business, with a concentration in entrepreneurship, and then secured her CPA license. Cost analysis and financial planning positions at IBM and Rockwell Automation Inc. followed. For 15 years she served Harley-Davidson Inc., capping her corporate career there as manager of corporate accounting.

Along the way, she honed her teaching skills by training colleagues on the job and working alongside college students through NABA’s college student chapters and the Young Entrepreneurial Scholars (YES) program, which exposes minority students to the accounting field and carves a pathway to careers in accounting or business. With time away to attend graduate school and raise a family (her two daughters are now college students), Stinson remains connected to NABA as well as the WICPA. “It’s always been a partnership,” she said of the two organizations. Her involvement in both organizations’ joint Minority Task Force in the early 1990s was a turning point. “I began to

excited about accounting, and I thought about how meaningful it would be to shape someone’s future in this way.

think bigger and broader,” she said. “NABA’s mission states, in part, ‘Lifting as we climb’ — a universal idea. It’s important to help those who follow us. That’s where teaching comes in.”

As much as she enjoyed her corporate career, Stinson’s passion to “lift” others ultimately led her to academia, where she has remained for seven years and counting. “When you leave corporate America and begin teaching, you don’t do it because it’s going to make you wealthy,” she said. “You do it in service to the profession that gave you so much. It’s a joy to connect the bigness of the accounting profession and the smallness of those teacher–student interactions.”

In her dual role as educator-mentor, Stinson assures students that they, too, can have successful accounting careers. “I always tell them that my network is now their network, meaning that if there is anything I can do to help them get to where they want to be, I will do it.” She asks all members to advance the profession by being informal WICPA ambassadors and encourages all CPAs — from newly minted accountants to retirees in all industries — to insert themselves back into academia by sharing their experiences with students.

“

When you leave corporate America and begin teaching, you don’t do it because it’s going to make you wealthy. You do it in service to the profession that gave you so much.

As faculty advisor of the CUW Accounting Club, Stinson is aware that students want to hear not only how to land a job but also what professionals do — and would have done differently — in their careers. “There’s a real need for this information sharing,” she said. “Usually, all it takes is for us CPAs to plant a seed for students to see the possibilities that the profession offers. However, because few people understand what an accountant does from Jan. 1 to Dec. 31, if you plant a seed that sounds negative (such as It’s so tough during busy season), prospective accountants or those looking for a career change have nothing to override it.” Stinson believes that simple tweaks — combining a challenge of the profession with its many rewards — can help to fill the pipeline.

Stinson teaches accounting and nonaccounting majors that business decisions are made based on financial information — and accounting professionals are the ones who track that information and gather it into reports that internal and external stakeholders can use. “They perk up a little bit when I also tell them such information will be used to calculate their bonuses,” she chuckled.

Raising her hand

Saying yes is a tough ask when giving back requires time from professionals whose schedules are often already stretched with work, community and personal commitments. When WICPA President and CEO Tammy Hofstede approached Stinson about chairing the board of directors, a three-year commitment (roles include chair-elect, chair and past chair), Stinson was reluctant. After all, she was teaching and pursuing a PhD in industrial and organizational psychology (expected in 2026) while continuing her advocacy to ensure the accounting profession is universally accessible.

Before making her final decision, Stinson called two important contacts for their input: Lovell and the first accountant she ever met — Curtis Craig, MBA, a founding member of NABA’s Milwaukee chapter and principal

managing consultant for SAVE Enterprises. Not surprisingly, both encouraged her to accept.

Her acceptance of the post gives Stinson the opportunity to view the profession from a different vantage point. “It’s exciting to observe the WICPA’s impact in the state and across the country. How could I say no?”

She’s hoping she can call on more members to say yes to service.

Contact her at sharonzalewski141@gmail.com.

Sharon Zalewski is a freelance writer and editor based in Richfield.

Stinson, left, with a founding member of NABA’s Milwaukee Chapter, Curtis Craig, MBA, at the 2023 WICPA Member Recognition Banquet.

The new board chair took the reins on May 1.

Introducing your 2025–2026 WICPA Board of Directors

The WICPA Board of Directors provides strategic governance in accordance with the WICPA strategic plan, mission and vision. The board ensures the WICPA serves the diverse needs of members, enhances professional competency, promotes the value of members and the profession, advocates on behalf of the profession and builds community among members. New members began serving after they were elected May 9, 2025, at the Member Recognition Banquet and Annual Business Meeting.

President, Donahue &

Neil R. Keller, CPA, Principal, Sikich LLC, Brookfield

Shareholder, Scribner,

President, CFO & Treasurer, Pekin Insurance

DIRECTOR

Sali L. Sheafor, CPA, Managing Partner, TAP Consulting LLC

Neil R. Keller, CPA, Principal, Sikich LLC, Brookfield

Principal, Baker Tilly

SECRETARY/TREASURER

Christopher M. Cholka, CPA, CGMA, Controller, Cousins Subs

Vice President,

Northland CPAs S.C.

Let us get in the ring for you. The Tax Section at von Briesen is known for e ectively resolving federal, state and local tax controversies. Our team of experienced professionals handle all aspects of tax challenges including complex audits and audit support, administrative appeals, the courts and tax collection for businesses, business owners or individuals. The bottom line? We get results.

To learn more about our Tax Section, please contact Dan Welytok at daniel.welytok@vonbriesen.com.

Taking Stock of Trade Issues, March 2025

Note: This article was prepared with the information available as of March 14, 2025, and updated April 4 and 7. Additional information may have become available since then.

By Jeff Van Winkle, JD

In early January, the incoming U.S. presidential administration loudly signaled that businesses should expect changes in trade policies in 2025. Although no specific policies had yet been promulgated, then President-elect Trump stated in social media outlets that broad sweeping import tariffs may be imposed on goods from Mexico, Canada and China.

Starting with an Executive Order (EO) on Feb. 1,1 the White House has issued a slew of EOs, social media posts and press releases that unleashed tariff chaos well beyond expectations of those active with trade issues. The seesaw of the proposed scope and size of tariffs can itself provide insights for businesses (as discussed later in the article).

Then, on April 2, President Trump issued additional executive orders that unleashed a massive restructuring of U.S. import tariffs that upends trading terms with all other countries. Subject to some exceptions, including under the U.S.–Mexico–Canada Trade Agreement,2 a base tariff of 10% is imposed on all goods imported from any country, increasing and customizing the rate for each country exporting to the U.S. At the same time, President Trump signaled his intent to continue to negotiate tariffs by stating that he retains authority to adjust the tariffs in response to actions by exporting countries.

In the midst of this tariff chaos, it remains critical for any business purchasing goods from outside the U.S. to review shipping terms for existing and new orders to assess whether the shipping terms may subject the business to payment of new tariffs or whether the cost remains on the seller. Product purchase terms, such as “EXW [seller]” for a Wisconsin business importing Canadian products, may subject the business to pay import tariffs.

Tariffs differ from first Trump administration tariffs

The authorization that President Trump is using for tariffs differs substantially from the tariffs imposed during his first administration. Most of the proposed (and now in effect) tariffs are based upon the International Emergency Economic Powers Act (IEEPA)3 instead of traditional authority referred to as Section 232 or Section 301. Sections 232 and 301 tariffs require agency research to assess harm to the U.S. economy to form a basis for any tariffs. Under IEEPA, all that is required is a presidential declaration and action. As a result, the EOs establishing tariffs can be imposed almost instantaneously and just as quickly revoked. Importantly, this authorization for tariffs does not include a procedure for a business to seek a tariff exemption.

Practical consequences of Trump tariffs

First, the basis for the new tariffs permits the president to quickly impose, change and withdraw tariffs, and the tariffs do not need to directly relate to specific trade inequities. This means that tariff scope and rate can be quickly negotiated with target countries, sometimes within a single 24-hour cycle. Since the policy objectives may be unrelated to the imported goods, a business seeking to import the goods is just collateral damage in the international dispute. A business cannot effectively and discretely plan for any specific tariffs since there is no rule-making process providing advance notice of a new tariff.

Second, even though the initial EOs focused on three countries — Mexico, Canada and China — consistent with the president’s earlier public comments, as of April 7, a new tariff regime impacts the entire global trading system. However, as disclosed in the announcement on March 12, imposing significant tariffs on steel and aluminum imported from all sources worldwide, and in Annex II issued on April 2, it remains clear that a business must still look to find the individualized tariff application for its goods. Even with the broad-brush announcement, tariff rates and coverage are not uniform or universal. Businesses should be alert if the president identifies a policy objective in a country from which it sources materials or goods because tariffs may be used as leverage in cross-border negotiations with that country. This ambiguity and uncertainty will likely deter a business from immediate plans to alter sourcing strategies. Changes to supply-chain strategies require sufficient knowledge before incurring the substantial costs to alter sources. Also, any change to a business’s supply chain will likely have multiple unintended results as the multitude of other businesses also simultaneously implement changes. Anticipated issues resulting from dislodged supply chains include transportation disruption and delays in entry processing.

Third, with the rapid pace of new U.S. tariffs, retaliatory tariffs have emerged, impacting U.S. businesses and consumers.

3 https://www.congress.gov/crs-product/R45618

“

Businesses should be alert if the president identifies a policy objective in a country from which it sources materials or goods because tariffs may be used as leverage in cross-border negotiations with that country.

However, the retaliatory tariffs may be unrelated to the initial tariffs. Retaliatory tariffs may not have a direct impact on businesses harmed by the increased costs from import tariffs.

Practical actions for Wisconsin businesses

Any business that imports goods should assess all existing purchase orders or similar obligations in detail to determine which party bears the burden for tariffs. This will enable an assessment of the financial impact of increased tariffs. Since the Customs and Border Protection system for assessing tariffs falls at the end of the import process, each business needs to actively evaluate exposure in advance.

Regular communication with the customs broker for the business will be critical for details of each new tariff, including the effective dates of the tariffs. The headline “All goods subject to import tariffs” may look different when reviewing the actual harmonized tariff system numbers for goods subject to tariffs.

All Wisconsin industries, including agriculture and manufacturing, will be impacted by the new tariffs and

Christine Anderson, CPA, CITP, CGMA, has joined Jewelers Mutual in Neenah as chief financial officer and treasurer.

Ryan Degnitz, CPA, CIA, has been promoted to general manager – finance at Acuity in Sheboygan.

Linda Gorens-Levey, CPA, a partner at real estate company General Capital, has been recognized on the Milwaukee Business Journal ’s 2025 Power Players list.

Chris Handrick, CPA, a principal at CLA in Green Bay, has been named to the board of directors of New North Inc., the regional economic development corporation for the 18 counties of northeast Wisconsin.

Kathryn Horan, CPA, has been promoted to director of finance and administration at Appleton International Airport.

Eric Humfeld, CPA, has been promoted to assistant vice president and senior controller at Peoples State Bank, headquarterd in Wausau.

Hannah Jensen, CPA, a partner at Wegner CPAs, has been named to the 2025 class of 40 Under 40 professionals in the Madison area by In Business magazine.

Todd Kleibor, CPA, has joined Vrakas CPAs + Advisors in Madison as an audit shareholder.

Trent Kleist, CPA, a principal at Baker Tilly, has been named to the 2025 class of 40 Under 40 professionals in the Madison area by In Business magazine.

Dale Kooyenga, CPA, president of the Metropolitan Milwaukee Association of Commerce, has been recognized on the Milwaukee Business Journal ’s 2025 Power Players list.

Evan Y. Lin, CPA, JD, managing member and founding attorney at Lin Law LLC, has been named to the Wisconsin Law Journal ’s Powerlist: Business Defense.

Daniel McGraw, CPA, CGMA, a 30-year WICPA member, was featured on March 30 in a story about his farm in Agri-View, a Wisconsin agricultural magazine.

Dominic Ortiz, CPA, CGMA, CEO and general manager at Potawatomi Hotel & Casino, has been recognized on the Milwaukee Business Journal ’s 2025 Power Players list.

Dawn Peterson, CPA, MST, has joined the Milwaukee office of Cushman & Wakefield | Boerke as director of finance and administration.

Drew Schuessler, CPA, has been promoted from senior accountant to accounting manager at Donahue & Associates LLC in Grafton.

Heather Stevlingson, CPA, has been promoted to senior vice president, controller at North Shore Bank, headquartered in Brookfield.

Victoria Thayer, CPA, president and founder of Novii CPA LLP, has been named to the 2025 class of 40 Under 40 professionals (for leadership in accounting and community) in the Madison area by In Business magazine.

Hope Voigt, CPA, has been promoted to president at Tweet Garot Mechanical Inc. in De Pere.

Phil Whitehead, CPA, CFP, CExP, has joined Lake Ridge Bank’s business banking team as senior vice president–business banking sales manager in the Evansville office.

Wegner CPAs has been named a Top Workplace in the United States by USA Today and a Madison-area Top Workplace by the Wisconsin State Journal for the fourth consecutive year. FIRM NEWS

Phil Whitehead

Trent Kleist

Heather Stevlingson

Drew Schuessler

Kathryn Horan

Victoria Thayer

Hannah Jensen

Hope Voigt

Todd Kleibor Dale Kooyenga

Dominic Ortiz

Ryan Degnitz

Evan Lin

Christine Anderson

IRS Changes Course

Latest developments with the Employee Retention Credit

By James D. Brandenburg, CPA, MST

On March 20, the IRS released new guidance that marks a sharp departure from the position it has maintained since the Employee Retention Credit (ERC) program launched five years ago. The IRS updated the ERC frequently asked questions (FAQs) found on its website at https://www.irs.gov/ coronavirus/frequently-askedquestions-about-the-employeeretention-credit. Each IRS question on this webpage includes the date it was updated. Please look for the four questions dated March 20, 2025, for these revisions on the income tax treatment related to the ERC. Tax practitioners and taxpayers should note that the IRS released this new guidance in the form of FAQs on its website, not via regulation or notice. While an FAQ is less authoritative than a regulation or notice, it seems to be all the IRS is issuing now. Here is what taxpayers and practitioners should know about two key changes.

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On March 20, the IRS released new guidance that marks a sharp departure from the position it has maintained since the Employee Retention Credit program launched five years ago.

1: When to include ERC refund in taxable income

Prior to the latest IRS guidance, taxpayers were required to report the ERC refund claim as a reduction in wage expense in the year the ERC was earned: either in 2020 or 2021. This adjustment could be made on either the original return or an

amended return for those years, as outlined in previous IRS guidance (see IRS Notice 2021-20 and IRS Notice 2021-49).

As a result, taxpayers had to include the ERC refund amount in their taxable income (through a reduced wage deduction for the year the ERC was earned), even if the refund had not yet been received.

In the updated IRS FAQs released on March 20, the IRS introduced an additional option that was not previously available. Taxpayers who have not yet adjusted their wage expense for the year to which the ERC claim corresponded can now opt to make that adjustment and include it in taxable income in the tax year the ERC refund is actually received. The updated IRS guidance states: Instead, you can include the overstated wage expense amount as gross income on your income tax return for the tax year when you received the ERC.

This is a welcome change — one that many taxpayers and practitioners had hoped for much sooner. This option would have eliminated the need to amend prior tax returns for the business and, often, amended tax returns for the owners of the businesses (for S corporations and partnerships).

2: Tax treatment of disallowed ERC claims

Another notable change in the updated IRS FAQs addresses ERC refunds disallowed by the IRS. Typically, after filing an ERC claim, taxpayers would adjust the wages on

their originally filed or amended 2020 or 2021 tax returns and then wait for the ERC refund. However, if the IRS later disallowed the claim (sometimes one to two years after filing), taxpayers were forced to amend those prior returns; and in some cases, this was the second time the return was amended. Under the new guidance, taxpayers now have a choice, which the IRS explains as follows:

If the ERC was disallowed and you reduced the wage expense on your income tax return for the year the ERC was claimed, you may, in the year your claim disallowance is final (meaning you are not contesting the disallowance or you have exhausted your remedies to argue against the disallowance), increase your wage expense on your income tax return by the same amount that it was reduced when you made your claim. Alternatively, you may but are not required to file an amended return, average accounting return or protective claim for refund to deduct your wage expense for the year in which the ERC was claimed.

Thus, if the ERC adjustment has already been made to taxable income for the year in which wages were incurred (2021/2020) and the ERC refund is later disallowed by the IRS, the taxpayer could (1) amend the earlier tax return (the only option available previously) or (2) deduct the amount of the disallowed ERC in the year of disallowance (the new option).

Here is an ERC chart summarizing the latest changes outlined in the updated IRS FAQs.

Employee Retention Credit (ERC) Chart – Income Tax Treatment for ERC Claims – Updated for IRS Revisions

March 20, 2025, to ERC FAQs

ERC Refund Claim Status

All set — no changes needed

Taxpayer did not adjust wages on prior filed return for ERC refund

Include in taxable income (adjust wage expense) on tax return in the year ERC refund is received

(1) Amend tax return in year ERC disallowance determined; OR (2) Amend tax return for tax year ERC originated. 2020 returns cannot be amended, as statute of limitations (SOL) has expired. The SOL for 2021 will expire in 2025, depending on the original filing date of the return.

No adjustment to current or prior filed tax return required.

Amend tax return for year ERC wages originated if you believe ERC will not be refunded. Situation was not addressed by IRS in latest update.

Wait for IRS action of allowance/ disallowance. If refund has not been received, wait for refund, and amend tax return in year of receipt.

1) Source - IRS Website. FAQs on Employee Retention Credit (ERC): https://www.irs.gov/coronavirus/frequently-asked-questions-about-the-employee-retention-credit. 2) Situations highlighted above, in yellow, were addressed by IRS in revisions made on IRS website on March 20, 2025.

3) The updated tax treatment with ERC made by the IRS on March 20, 2025, on its website differs significantly from what the IRS stated in IRS Notice 2021-20 and Notice 2021-49.

4) The above ERC chart does not reflect the impact of amending a prior tax return and generating interest on an overpayment. Taxpayers should consider the impact of interest with an amended return in situation where it filed/amended a prior return for ERC that was subsequently disallowed by the IRS. Given the new IRS guidance that allows for taxpayers to report the impact of ERC disallowance in the year of occurrence, amending a prior year’s tax return, however, may be the more prudent option in some cases.

Additional considerations

Based on the new IRS guidance, here are a few additional considerations regarding the new income tax treatment of the ERC:

• As mentioned previously, if an ERC filer’s refund claim is disallowed, the filer now has the flexibility to choose when to claim the deduction for the disallowed amount that must be repaid. While it may be more straightforward to take the deduction in the year the amount is repaid, filing an amended return for the prior year could result in the taxpayer receiving several years of interest on the overpaid tax tied to the disallowed ERC.

• If there have been ownership changes in the business since 2020 or 2021, determining when to recognize adjustments due to the receipt or disallowance in a later year of an ERC claim requires careful evaluation. This is something that should be discussed by the business owners and their advisors.

• In cases where a business has been sold and ERC refund claims were either still pending with the IRS at the time of sale or not yet reported for income tax purposes, complex tax and legal issues arise. It is essential to consult both tax and legal professionals to navigate these situations.

“ There are still many nuances and timing issues that remain with ERC claims and statutory deadlines that require careful attention.

These points address the most recent IRS changes regarding the tax treatment of ERC claims. There are still many nuances and timing issues that remain with ERC claims and statutory deadlines that require careful attention. CPAs need to be aware of these latest updates and review them with impacted taxpayers.

James D. Brandenburg, CPA, MST, is a tax director with Sikich LLC in Brookfield. Contact him at 262-754-9400 or jim.brandenburg@sikich.com.

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Delores M. Fischer, CPA (1944–2025)

Delores M. “Dolly” Fischer, CPA, age 80, passed away on Saturday, Feb. 15. Born in Sault Ste. Marie, Michigan, as Delores Schuster, she married Richard J. Fischer in1962. While raising her family, she decided to continue her education, eventually earning a degree in accounting and becoming a CPA. Fischer spent almost 30 years with Schenk S.C. (now CLA), had a tireless work ethic and was also committed to her faith. She enjoyed her grandchildren and their activities, the Milwaukee Brewers and her dogs. She is survived by her husband of nearly 63 years, Dick; two daughters; two sons; six grandchildren; one sister; two brothers; and many other relatives and friends.

Arthur L. Hotvedt, CPA (1927–2025)

Arthur L. Hotvedt, CPA, age 97, passed away on Thursday, March 27. Hotvedt was born and raised in Sparta and graduated from Eau Claire Senior High School in 1945. He served in the Wisconsin State Guard, the United States Army and the Wisconsin National Guard. Hotvedt attended Ripon College, Eau Claire State Teacher’s College, Eau Claire Vocational School, the University of Alabama and the International Accounting Society in Chicago, from which he graduated with a degree in accounting. He earned his CPA license in 1961 and worked for Bertelson Co. (now Wipfli) for 34 years, retiring in 1983. Hotvedt was also a 33rd Degree Mason. His wife, Dorothy, preceded him in death in 2024 after 68 years of marriage. Hotvedt is survived by their two sons and other relatives and friends.

Lisa Ostrowski, CPA (1963–2025)

Lisa Ostrowski, CPA, passed away on Sunday, March 30, at age 61. Ostrowski graduated from UW–Madison in 1985 with a BBA in accounting and production & management science. She began her accounting career in 1986 as a staff accountant for Saks Inc. in Milwaukee, rising through the ranks, passing the CPA Exam and becoming licensed as a CPA in 1994. She rose to management level at Saks before joining Spartan Stores in Hudsonville, Michigan, in 2001 and joining Batteries Plus in Hartland in 2004, ending her career there in 2022 as treasury manager and assistant controller. Ostrowski is survived by her mother; three sisters; nieces and nephews; and many other relatives and friends.

John Schmitz, CPA (1930–2025)

John Schmitz, CPA, passed away on Monday, March 3, at age 94. He was licensed as a CPA in 1958 and began his career with Ernst & Ernst (now EY) before leaving public accounting for the corporate finance world. He moved the family from Wisconsin to Illinois when he became a group vice president for Alberto Culver Co., and he finished his career as an executive vice president for Hollister Inc., where he assumed control of international manufacturing, marketing and distribution. After retiring from corporate finance, he founded Aberdeen Technologies Inc., a medical injection molding company, with his son, John M. Schmitz. Schmitz and his beloved wife, Sara Jean, enjoyed 73 years of marriage. He is survived by their five daughters and two sons; 21 grandchildren; 21 great-grandchildren; and many other relatives and lifelong friends.

Markalan Thomas Smith, CPA, MST (1954–2025)

Markalan “Mark” T. Smith, CPA, MST, age 70, passed away on Wednesday, March 12. Smith graduated from Stevens Point High School in 1970. He went on to study accounting and graduate from the University of Kentucky before becoming licensed as a CPA in Ohio in 1985 and in Wisconsin in 1992. He began his career with Arthur Andersen in Cincinnati, where the family lived for 11 years. After moving back to Wisconsin, Smith worked for several accounting firms in the Fox Valley area before joining Baker Tilly, from which he retired as a partner. After retirement, he continued the work he loved as an independent consultant. Smith was actively involved in the Fox Valley Estate Planning Council, the Appleton Education Foundation, the Community Foundation for the Fox Valley Region and the Thompson Center on Lourdes. He is survived by his wife, Ann; three children; five grandchildren; four siblings; and many other relatives and friends.

Elmer John Telfer Jr., CPA (1944–2025)

Elmer John Telfer Jr., CPA, passed away on Monday, Dec. 23, 2024, at age 80. After graduating from high school in 1961, Telfer enlisted in the U.S. Navy, serving from 1962 to 1968 as a fire control technician aboard a guided missile frigate. Later, he attained a degree in accounting and passed the CPA Exam on the first try. He became licensed as a CPA in 1976. Later in life, he had a second career as a real estate agent. Telfer was actively involved in the Jaycee’s Club, Lion’s Club International, American Legion Post 112 and Veterans of Foreign Wars. He is survived by his wife of 59 years, Winifred Diane; two sons; four siblings; and many other relatives and friends.

If you are aware of a member obituary and believe it should be included in Memorials, please send a copy of the obituary or contact John Rasche at john@wicpa.org.

The Role of the Auditor During Periods of Economic Uncertainty

By Steven Brokish, CPA

Economic uncertainty has become the norm, whether due to COVID-19 shutdowns, shifting administrations or trade disruptions. For auditors, these conditions introduce both challenges and opportunities — elevating the importance of our role in providing an unbiased third-party assessment, ensuring accuracy and providing strategic insight to our clients.

By deepening our understanding of client operations and staying informed on external factors impacting businesses, we strengthen our auditing approach and enhance our ability to detect and mitigate risk. This, in turn, demonstrates that an auditor’s value extends beyond the final report — elevating both the role of the auditor and the audit itself.

Understanding the client perspective

Economic instability weighs heavily on the minds of our clients, often in unseen ways. Most businesses today are grappling with the BOI1 back-and-forth, looming tax law changes and/or the 2025 buzzword “tariffs.” Auditors are uniquely positioned to provide a third-party perspective, offering clarity and stability amid the chaos.

The audits of 2024 financial statements have already begun to show the impacts of this “chaos.” Economic uncertainty, whether it stems from sticky inflation, fluctuating interest rates or general political unrest, has resulted in some inconsistent results of operations for many businesses. For organizations with debt covenants or other financial obligations, the stakes are even higher. These conditions create a perfect storm for the risk of material misstatement, underscoring the need for thorough risk assessment and proactive communication with clients.

Strengthening our audit approach

Auditors know that economic uncertainty means one thing for certain: It’s going to impact our assessment of risks of material misstatement and our audit approach. Periods of uncertainty demand a refined audit strategy. As auditors, we must adapt our risk assessments to account for the increased pressures facing those responsible for financial reporting. All accountants know that numbers don’t lie, but it’s important to remember that a crafty artist can always cover a few blemishes.

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By deepening our understanding of client operations and staying informed on external factors impacting businesses, we strengthen our auditing approach and enhance our ability to detect and mitigate risk.

A disciplined approach to risk evaluation begins with a deep understanding of client operations. Beyond the numbers, auditors must grasp what a business does, its market dynamics and its key stakeholders. Establishing strong relationships and engaging with clients about their operations fosters trust and enhances our ability to identify potential risks. In my experience, most clients are excited to talk at length about the things they do well, which offers a great jumping-off point for additional operations discussions. These discussions build rapport and improve audit quality through more appropriate risk identification.

Equally important is assessing how financial data is compiled and maintained. Clients tend to approach internal process documentation in one of two ways: They either provide a

detailed step-by-step breakdown worthy of an Accounting 101 textbook, or they offer so little information that it’s almost as if they declined to participate altogether. While one approach is more structured, both require direct observation and inquiry to assess design and implementation. Inconsistent documentation or changes in staffing can impact internal controls, potentially increasing risks related to segregation of duties.

Finally, auditors must understand where our clients may be feeling pressure, as these areas can significantly impact reporting estimates or judgments that impact our risk assessments. A closely held family business will have different expectations and measures of success than an entity backed by private equity investors. Bank debt covenants often create pressure to maintain a certain level of EBITDA2 or debt service coverage, while employee bonus structures can sometimes present risks if not properly designed — especially during periods of economic uncertainty. As auditors, we won’t know what pressures exist unless we ask the right questions and analyze the right documentation.

Leading through uncertainty

Auditors often have access to emerging economic and regulatory insights before clients do. This presents an

opportunity to proactively engage with clients — translating complex developments into useful insights. By initiating conversations early, we can help businesses navigate upcoming changes with confidence. Economic uncertainty does not necessarily mean more audit work, but it does require strategic foresight. A well-planned audit approach, rooted in strong client relationships and a proactive mindset, ensures that auditors remain invaluable partners in times of change.

This approach requires an investment in client communication and professional development. Hosting webinars, blogs and discussions helps business leaders stay informed and anticipate challenges while also reinforcing the depth of our industry and technical expertise. Investing in professional development is equally important. The evolving financial landscape requires auditors to continuously refine their skills by staying ahead of industry trends, obtaining relevant certifications and expanding expertise in specialized areas.

At the same time, maintaining independence is critical to upholding the integrity of the audit profession. As auditors strengthen client relationships and provide valuable insights, we must also remain objective and free from external influence. Independence ensures that auditors can deliver unbiased assessments, reinforcing trust in financial reporting and safeguarding transparency. By adhering to ethical standards and professional skepticism, auditors not only fulfill their regulatory responsibilities but also preserve the credibility that makes their guidance so valuable in times of uncertainty.

Uncertainty is here to stay

The state of auditing and financial reporting is constantly evolving, and it’s likely that economic uncertainty is here to stay. However, by embracing a proactive approach, we can demonstrate the true value of our third-party perspective at a time when stability and certainty are hard to find.

In the coming years, auditors will need to adapt to new technologies, regulatory requirements and shifting market conditions. Those of us who position ourselves as forwardthinking advisors will be best equipped to navigate these changes successfully. Now is the time to invest in relationships and refine audit methodologies.

Economic uncertainty is not just a challenge — it is an opportunity to lead, advise and strengthen trust in financial reporting. With expertise, innovation and a commitment to integrity, auditors can help businesses thrive in the era of uncertainty.

Steven Brokish, CPA, is an assurance manager at Wegner CPAs LLP in Madison. He performs audits, reviews and compilations in the manufacturing and distribution and cooperative industries. Contact him at 608-442-1979 or Steven.Brokish@wegnercpas.com.

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Business Valuations: What CPAs Need to Know

By Lisa Cribben, CPA/ABV, ASA, CMA

CPAs are frequently asked by their clients about the value of their businesses. When a client requests a business valuation, it is essential to engage someone with expertise in the field to provide the most accurate and informed advice.

While the formula for determining a business’s value may seem straightforward, the inputs used in these formulas are complex.

Historical earnings may be the easiest reference point when valuing a business, but a buyer determines value based on expected future performance, not past results. Forecasting future earnings requires an understanding of factors such as the following:

• Customer sales expectations and competition

• Potential changes to historical operations and operational needs

• Economic or industry-specific trends

Additionally, determining valuation multiples or an investor’s risk-adjusted required rate of return involves assessing the impact of market conditions, growth expectations, company size and shifts in the company’s risk profile.

Professional standards and certification

To ensure CPAs grasp the intricacies of business valuation, the AICPA has issued standards known as the “Statement on Standards for Valuation Services,” which CPAs are required to follow.

The AICPA also offers a certification — the Accreditation in Business Valuation (ABV) — which requires passing an exam and demonstrating proficiency in business valuation.

Utilizing a certified or experienced appraiser helps ensure that CPAs provide clients with the most accurate and beneficial advice.

Defining the valuation engagement is a critical component

Clients may request business valuations for several purposes, including gifting and estate planning, marital settlement, shareholder dispute, litigation or company succession planning, and defining the assumptions utilized in a valuation can change the resulting value.

When performing business valuations, different definitions of value may be considered:

• Synergistic value

• Liquidation value

• Fair value

• Investment value

• Fair market value

Many valuations rely on the definition of fair market value, which can be described as follows:

The price at which the property would change hands between a willing buyer and a willing seller, when the former is not under any compulsion to buy and the latter is not under any compulsion to sell, both parties having reasonable knowledge of relevant facts.

As the purpose and definition of value changes, the value arrived at could also change based on changes to expected earnings and risk factors.

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Scoping the engagement and helping clients understand how value changes depending on the assumptions is an important step in the valuation process.

In addition, the date used for any valuation is important, as value changes over time and could change by the day or by the month with adjustment to a company’s assets (such as cash), liabilities (such as debt) or changes in expected future earnings. Scoping the engagement and helping clients understand how value changes depending on the assumptions is an important step in the valuation process.

following three primary approaches when valuing a business:

• The market approach

• The income approach

• The asset approach

Market approach

The market approach estimates value using a company’s expected earnings and market multiples. These multiples are calculated by dividing the sale price by its historical or pro forma earnings.

Careful analysis of multiples is required to ensure comparability of multiples to their earnings measure. Different databases use different earnings measures, and sale prices may include different asset compositions (such as equity or invested capital). Consequently, some multiples may be skewed and require adjustments before applying them to the subject company.

When using the market approach, it is important to recognize that valuation multiples vary by industry and by individual businesses within an industry. Multiples depend on factors such as company size, projected growth in

Valuation Approach Simple Formula

Income approach

The income approach estimates value by analyzing net cash flow (earnings adjusted for capital expenditures and changes in working capital) and dividing by the required rate of return (ROR). The ROR is determined based on market data and company-specific risk profiles as well as considerations for debt levels and taxes.

Debt is typically subtracted from the resulting value in both the income and market approach, while assets and liabilities not required for current operations are added back.

Asset approach

The asset approach involves estimating the value of individual assets and liabilities and then combining them to determine total business value.

While some assets — such as cash — are straightforward to evaluate, others — such as fixed assets and goodwill — may require specialized analysis. Fixed assets might necessitate an independent appraisal, while goodwill and intangible assets (such as patents, customer relationships or workforce value) may need separate valuation analyses.

Wisconsin firms take different paths as they navigate the remote-work landscape.

By Ken Wysocky

The trend toward companies adopting return-tooffice (RTO) policies has touched off a national debate about the merits of working remotely versus returning to pre-pandemic workplace norms.

Remote-work advocates say it bolsters employee recruitment and retention by providing employees with a better work-life balance, primarily by allowing for flexible, family-friendly work schedules and removing time-wasting stressors such as long and frustrating commutes to work. Proponents of RTO say it enhances collaboration and innovation, helps enrich corporate

culture, increases productivity — and profitability — and aids in succession planning.

Interviews with officials at a handful of accounting firms and related businesses revealed both sides of this workplace coin. Most of the companies already had variations of remote-work policies established before COVID-19 hit but fully embraced remote work out of necessity during the peak of the pandemic.

What follows is a synopsis of how those companies chose to operate in the wake of the pandemic and how they handled challenges posed by remote work.

Because of our culture, the nature of what we do and the engagement we need with each other, many people wanted to be back in the office. We feel like we’re a lot better together.

— Brad Baumann, CPA

CLA (CliftonLarsonAllen)

u Wisconsin offices: 17

u Employees in Wisconsin: about 1,700

CLA has always offered flexible work schedules for employees. “But those accommodations expanded significantly when the pandemic hit,” said Brad Baumann, CPA, managing principal for the firm’s five southeast Wisconsin offices.

After the pandemic abated, the firm felt it was important for as many people as possible to return to offices. Today, Baumann estimates that 10–15% of the firm’s Wisconsin employees have a flexible work arrangement, ranging from working remotely full time to working from home a couple days a week.

“Because of our culture, the nature of what we do and the engagement we need with each other, many people wanted to be back in the office,” he said. “We feel like we’re a lot better together.

“A lot of our employees came back to their offices right away, especially younger people who learn by doing,” he continued. “They wanted to be back in an office. … I think our strong culture is the foundation of the ‘why’ behind that.”

To stay connected with employees, the firm is very intentional about regular communication with remote workers, particularly those who work remotely full time. Microsoft Teams is the preferred platform for communication, Baumann said.

The firm does not monitor employees to ensure they’re not taking advantage of working remotely. “We don’t have to do that,” he said. “At the end of the day, we’re serving clients. So if someone is taking advantage, we’d know about it.”

Baumann also said concerns about less collaboration among a remote workforce haven’t materialized, largely because remote-work employees know they have to up their game and be even more intentional about it. In fact, he thinks collaboration has increased.

In the long run, the firm knows it has to offer flexible work schedules to attract and retain quality employees by meeting them where they are in their various life stages.

“But I strongly believe there’s power in engaging and connecting with people in person,” Baumann added. “Establishing a human connection and getting to know someone on a personal level happens faster in person, and that connection is very valuable.”

Truity Partners LLC

u Wisconsin offices: three u Employees in Wisconsin: about 45

Truity Partners, an accountant recruiting firm (formerly part of Baker Tilly), has a long history of allowing employees to work remotely, said Laura Huggett, CPA, Truity’s president.

“We had someone working remotely about 15 years ago, way before it was cool,” she said.

But ever since the pandemic, anyone who wants to work remotely is allowed to do so. In fact, the firm closed an office in Milwaukee because it no longer needed the facility since everyone works remotely, Huggett said.

Some employees still come into an office voluntarily a couple days a week. To bolster communication and ensure teams are on track, all teams hold recurring meetings via Microsoft Teams, with frequency determined by employees’ functions. Some have a quick morning huddle every day, for example, while others might hold weekly progress meetings, she said.

Training and development is a little more challenging because Truity’s remote employees can’t be coached in real time. But the firm hosts a mandatory in-person training and development session roughly every other month in Milwaukee and also holds a two-day training session once a

“We continue to improve and refine the program,” he said. “We have good, compassionate people in those training roles, and I’m hearing really good feedback about it.”

Miller said the firm has no plans to mandate in-office work because remote work has been a boon to employee retention and work-life balance.

“I’ve been surprised at how well it works,” he said. “If you had told me five years ago that we would pivot to remote work, I would’ve expected the profession would struggle. But it works really well for us.”

SynerComm Inc.

u Wisconsin offices: one u Employees in Wisconsin: about 40

The pandemic also left its mark on SynerComm, an information technology business. About 80% of employees work remotely, up from 50% before the pandemic. About half of those employees are full-time remote workers, and the rest come into the office for one or two days a week, said Justin Koneck, a human resources and accounting specialist at SynerComm.

Employees have a lot of motivation to perform well because they like working remotely. And if they want to be compensated, they know they need to be productive.

— Justin Koneck

One exception is Mondays, when the company’s vice president of sales meets in person with sales executives and

“We started doing that within the last year,” Koneck said. “Our office is quite full on Mondays.”

The main reason for the weekly assemblies is boosting collaboration versus letting people work autonomously in individual silos, he explained.

“There’s a lot of project management that requires people to understand the progress of certain projects and timelines,” Koneck said. “I’d liken it to building a house — you can’t have plumbers, HVAC and electricians all there on the same day. Instead, you need a general contractor to ensure processes and flows take place. There needs to be collaboration and communication.”

During these meetings, one topic can organically morph into more in-depth conversations about issues that weren’t initially on agendas. Furthermore, salespeople more than others tend to thrive on communication and socialization, he added.

As for monitoring remote employees’ work, Koneck said that as an IT company, management has the technology to do so.

“But we’re not very Big Brother-ish,” he said. “We don’t audit employees unless we see a performance slide. Employees have a lot of motivation to perform well because they like working remotely. And if they want to be compensated, they know they need to be productive.”

Ken Wysocky is a freelance writer based in Whitefish Bay. Contact him at 414-962-6202 or kenwysocky@gmail.com.

What You Need in a CAS Tech Stack

Combining the right software and applications can help your CAS practice produce higher earnings and bring added value to your clients.

By Ayala Clinkman,

CPA, PMP

Over the last couple of years, it seems that every time I see the acronym CAS — which stands for client advisory services or client accounting services — I also see “tech” and “stack” mentioned nearby. But why is that?

CAS is the practice of providing services to take care of and address clients’ accounting and financial needs. These services can vary from basic bookkeeping all the way to serving as a client’s interim or outsourced chief financial officer or controller.

Tech (technology) refers to electronic tools used to accomplish tasks. Stack is a vertical pile of things. By combining tech and stack together, you’re referring to a firm’s set of applications, electronic tools and software used on a regular basis to run the practice successfully. Ideally, all the technologies used are stacked together and integrated in some way to give staff everything they need to perform their jobs as efficiently and effectively as possible.

Therefore, the reason tech stack is talked about so frequently in the CAS space is because when combined (meaning, the right selection of software and applications), you can streamline tasks, produce higher earnings and provide your clients a better experience — and therein lies a tech stack’s value. But it’s not just any software or application that’s randomly implemented that’ll allow this — a CAS tech stack needs to be deliberately built based on the practice’s (and clients’) needs and environment.

Whether you’re just starting a CAS practice, experiencing pains or bottlenecks due to manual processes or a small staff, trying to expand with efficiency, or specializing in a niche industry, it’s a good idea to evaluate if you’re using the best

“

By combining tech and stack together, you’re referring to a firm’s set of applications, electronic tools and software used on a regular basis to run the practice successfully.

tech tools and software for the job and whether there are any areas where you could use technology more effectively.

Three leaders of CAS practices share what they consider to be important tech stack selection criteria and the available tools they recommend.

Selecting the right tech stack for your CAS practice

Irfan Dossani, CPA, partner in charge of client accounting and advisory services at Whitley Penn, recommends looking at your client base and analyzing what verticals you are (or could be) focusing on, as your tech stack will need to serve those verticals. He notes that some software is specifically designed to serve certain industries and their unique requirements. For example, the manufacturing industry has very different requirements than the nonprofit world. Stepping beyond your practice’s specialization, you must consider whether your software solutions meet the specialized situations of your clients — think location, number of

your team is well trained on both. Polakoff also suggests considering whether you’ll require your clients to adopt certain systems or processes as part of their acceptance criteria. This question should be answered as part of your practice’s revenue model and long-term strategy.

Laura Steuber, CPA, principal and director of CAS at Miller Cooper & Co. Ltd., emphasizes the importance of standardization and the efficiencies it brings. Additionally, she notes that it’s important to establish relationships with your go-to software providers, especially if you’re assigned to a dedicated representative who can assist with supporting and training your team. Once you purchase or license a software solution, you might be assigned a team or consultant who’ll help you implement it and be available for assistance if any issues arise. Which vendor(s) will provide additional services, like training and support, should be an evaluation point when you’re in the selection process.

Recommended tech stack tools

So, what are some examples of software that can comprise a CAS practice’s tech stack?

First, Polakoff recommends choosing cloud-based software solutions, as this allows for greater flexibility and mobility (which could also help in attracting and retaining talent).

For small or new practices, Dossani recommends sticking to the basics and looking into one of Intuit’s simple platforms to start, like the ever-popular QuickBooks and TurboTax offerings. As your CAS practice grows, he recommends exploring the utilities of more robust solutions like Sage Intacct®.

employees, yearly revenue, multicurrency, etc. — since these, too, can impact which software tools are best for the job.

Dossani also recommends looking at your team. Are some of them really into a certain field or good at a certain area or task? Can you build around that? Can you capitalize on your team’s strengths and specialties to create a unique service offering or focus area? Of course, a third angle is listening to your clients. Are multiple clients asking for the same advice or service or struggling with similar tasks? Based on the answers to these questions, you can find ways to differentiate and create more opportunities for providing your clients with specialized services that’ll in turn need to be supported by specialized tech tools, which will help dictate what your tech stack should comprise.

Kane Polakoff, principal and CAS practice leader at CohnReznick LLP, says standardization across the firm is key. If there’s no standard solution to build from, it’s difficult to scale up. Polakoff says you want your people to become familiar with a tool and process. This essentially means selecting a standard tool per process or service and ensuring

Generally speaking, Steuber says one of the most important tools for a CAS practice is a general ledger package. After that, she recommends implementing software that helps automate or upgrade processes for managing and monitoring bill payments, bank feeds, tax forms, expense reporting, payroll and sales tax. Steuber likes BILL for a payments solution, Expensify for expense management, and Avalara for sales tax calculations and reporting. Once you establish your go-to tech for these processes, Steuber recommends considering a consolidations tool and a forecasting and budgeting system for greater business visibility.

Of course, there are countless more solutions out there. Overall, your CAS practice’s focus area(s) should drive what your tech stack is composed of. Take some time to evaluate your options to determine which ones work well together and make the most sense for your practice, staff and clients.

Ayala Clinkman, CPA, PMP, is a senior director of business solutions at Business Technology Partners LLP.

with permission.

Taxes Two-Step The

An update on the federal tax bill

By James D. Brandenburg, CPA, MST

You might recall that under the congressional budget reconciliation rules a tax and spending bill must navigate a complicated process and take two laps around Congress. Call it the “Taxes Two-Step.” The first step involves the House and Senate coming to an agreement on the same budget resolution. This resolution sets the framework and dollar limits for the various congressional committees to write specific tax and spending provisions. This first step of passing the budget resolution was met when the House approved the resolution on April 10, following passage by the Senate on April 5.

With the first lap around the Capitol done, the 21 congressional committees (11 in the House and 10 in the Senate) are now actively working on their budget assignments, using the specific tax and spending instructions spelled out in the resolution. Of interest to most taxpayers and tax practitioners are the specific tax provisions being drafted by the House Ways and Means Committee and the Senate Finance Committee. The details of the tax plan were not yet formulated as we went to press with this issue, but many of the details may have been unveiled by the time this issue is published — and if not, they will be out soon. An extension of many TCJA1 provisions will be the foundation of the bill, along with many proposals from last year’s campaign. Soon all the specifics, effectives dates, transitional rules and more will be unveiled.

Once the tax-writing committees (as well as the other committees) finish their work, a final vote will once again be needed by both the House and the Senate on this comprehensive budget and tax bill. This would complete the second lap; if approved, the bill would move to the president to be signed into law.

“ It is uncertain all the tax provisions that will be contained in the bill and whether Congress will approve it. With razor-thin margins in each chamber, passage is not ensured.

It is uncertain all the tax provisions that will be contained in the bill and whether Congress will approve it. With razor-thin margins in each chamber, passage is not ensured. If the bill is not passed and Congress has more work to do, uncertainty around the sunset of various TCJA provisions looming at the end of the year will be unsettling to many. We will cover the enacted bill in detail — or the status of the bill if it’s stalled in Congress — in the September/October issue of On Balance. Stay tuned … and, in the interim, watch WICPA CONNECT for updates.

James D. Brandenburg, CPA, MST, is a tax director with Sikich LLC in Brookfield. Contact him at 262-754-9400 or jim.brandenburg@sikich.com.

20th Annual

Retirement Plan Investment Seminar

Join us for the 20th Annual Retirement Plan Investment Seminar. Earn 4 hours continuing education credits during this half-day seminar.

Speakers & Topics:

JONATHAN MARSHALL & MANUEL ROSADO

Spectrum Investment Advisors

— Retirement Plan Trends

EMILY ROLAND | John Hancock

— Economic & Financial Markets Review

MATT SOMMER | Janus Henderson

Financial Exploitation: What You Need to Know

WILLIAM HANSEN | American Retirement Association

Retirement Plan Legislative Update from Washington

SCOTT BURROWS | Motivational Speaker

Vision, Mindset, Grit: Overcoming the Odds

Earn 4 free CPE Credits

June 18, 2025 8:15 am to 12:15 pm

Boost your professional edge with timely insights, strategic guidance, and continuing education— helping you navigate today’s evolving retirement plan landscape.

WICPA, John Hancock, Janus Henderson Investors, American Retirement Association and Scott Burrows are not affiliated with Spectrum Investment Advisors. For CPE credits, please call the CPE Department at 800-772-6939 or register through the WICPA Website.

Incorporating AI Into Continuous Improvement

By Amanda Wilkie, PMP

Continuous improvement isn’t aspirational for accounting firms and companies — it’s necessary to stay competitive and relevant, especially as technological advancements like artificial intelligence (AI) reshape how firms operate.

Leveraging AI can unlock incredible efficiencies and drive organization-wide progress, but firms and companies need to integrate these tools thoughtfully into their continuous improvement efforts to remain agile and responsive to the fast-paced nature of technological change.

The role of continuous improvement

Continuous improvement is a process for regularly evaluating and optimizing workflows, technologies and methodologies. Over time, the systems and processes your company relies on evolve due to new technologies, shifts in client needs and regulatory requirements. To remain efficient, you must constantly assess how these changes impact your operations and proactively identify opportunities to enhance performance.

“

This mindset is particularly important in today’s environment, where technologies seem to change and evolve on a daily basis. For example, you might implement a new scheduling module for a workflow solution or upgrade your tax software with machine learning capabilities. But without evaluating how these changes impact your processes, those solutions might not deliver the desired results. Worse, they may create inefficiencies by clashing with existing processes. This is why you need an organization-wide commitment to continuous improvement — it ensures any new technology aligns with business goals and enhances rather than hinders workflows.

AI in accounting

AI is transforming how people work across industries, and accounting is no exception. From automating routine tasks like data entry to enhancing decision-making with predictive analytics, AI offers a lot of possibilities. Many firms and companies have already started adopting AI responsibly, incorporating policies that safeguard client data and ensure compliance with privacy regulations.

Leveraging AI can unlock incredible efficiencies and drive organization-wide progress.

However, while AI brings opportunities, it also brings potential challenges — especially when it comes to how AI integrates with existing processes. For example, an AI-powered bot might automate certain client-facing tasks, such as answering common tax questions. But if these tasks are disconnected from overall client management, AI could unintentionally create bottlenecks or redundancies. This is where a continuous improvement mindset is crucial.

Aligning AI with process improvement

Introducing AI into your firm isn’t a one-time event. It should be part of an ongoing effort to support and refine firm operations. Firm leaders should regularly assess how AI impacts their team’s workflows and determine whether it truly

THE GUIDE TO WICPA COMMITTEES AND BOARDS

Joining a WICPA committee or serving on a board is a great way to network with like-minded individuals, sharpen communication abilities, gain leadership skills, form business relationships and friendships and strengthen your brand. They are also ways to “give back” to the profession that has given you so much. Sharing your talents as a volunteer enhances the CPA profession while helping others achieve ambitious goals. You can receive CPE credit when you attend a meeting — and you can attend in person or by video conferencing, so you can be involved wherever you are and whatever your schedule. For more information about committees and to join one, contact Tammy Hofstede, WICPA president & CEO, at tammy@wicpa.org.

WICPA BOARD OF DIRECTORS

The WICPA board of directors provides strategic governance in accordance with the WICPA strategic plan, mission and vision. The board ensures the WICPA serves the diverse needs of members, enhances professional competency, promotes the value of members and the profession, advocates on behalf of the profession and builds community among members.

WICPA EDUCATIONAL FOUNDATION BOARD OF DIRECTORS

The WICPA Educational Foundation plays a pivotal role in supporting programs to improve awareness and perceptions by educating students and educators about the exciting opportunities available to accounting professionals.

ACCOUNTING & AUDITING CONFERENCE PLANNING COMMITTEE

The Accounting & Auditing Conference Planning Committee provides CPAs and financial professionals in public accounting, industry and government — and their staff — with information on current changes and timely issues in auditing standards, FASB, GASB, governmental managing, improving data and document workflow, and accounting and financial reporting. Training in technology and soft skills is also offered at the conference. Those who attend the planning meeting, find a presenter or introduce a speaker at the conference receive complimentary conference registration.

ACCOUNTING CAREERS COMMITTEE

The Accounting Careers Committee promotes, educates and excites students about the changing roles of a CPA and the unlimited career opportunities.

ACCOUNTING HIGHER EDUCATION COMMITTEE

The Accounting Higher Education Committee consists of educator representatives of Wisconsin colleges and universities that have accounting programs intended to qualify graduates to take the CPA Exam and obtain a CPA license. The committee has provided a forum for educators to network; share information; learn about each other’s institutions and programs; and serve as a resource to Wisconsin legislators, regulators and other policy makers.

BUSINESS & INDUSTRY CONFERENCE PLANNING COMMITTEE — FALL

The Business & Industry Fall Conference provides CPAs, CEOs, CFOs, controllers and accounting staff in industry, public accounting, government, education and nonprofits updates on current issues and tax implications affecting various areas of business and operations, human resources and IT, as well as new and improved ways to manage a changing workplace. Those who attend the planning meeting, find a presenter or introduce a speaker at the conference receive complimentary conference registration.

BUSINESS & INDUSTRY CONFERENCE PLANNING COMMITTEE — SPRING

The Business & Industry Spring Conference provides CPAs, CFOs, CEOs, controllers and accounting staff in industry, public accounting, government, education and nonprofits updates on current accounting and tax implications affecting various areas of business and operations, human resources, IT, as well as new and improved ways to manage a changing workplace. Those who attend the planning meeting, find a presenter or introduce a speaker at the conference receive complimentary conference registration.

EDITORIAL PLANNING COMMITTEE

The semiannual On Balance Editorial Planning Committee meeting is an opportunity for members to critique content published in the magazine and contribute ideas for article topics. Members are encouraged to share issues and trends affecting their businesses, clients and the accounting profession. Feedback is used to help plan the editorial calendar. The meeting sometimes results in committee members being asked to write articles on specific topics in which they have expertise. During the year, members may be called upon to contribute topic ideas for specific issues of the magazine.

ETHICS COMMITTEE

The Ethics Committee oversees the effective regulation and enforcement of the AICPA Code of Professional Conduct.

FEDERAL TAXATION COMMITTEE

The Federal Taxation Committee regularly engages in dialogue with the IRS, discusses new developments in federal taxation matters and keeps WICPA members informed of new developments in tax authority, practice and procedures.

FINANCE COMMITTEE

The Finance Committee oversees the financial activity of the WICPA, including the annual budget, audit, investments and net assets.

FINANCIAL INSTITUTIONS CONFERENCE PLANNING COMMITTEE

The Financial Institutions Conference covers a variety of specialized topics that include regulatory and legislative updates, compliance issues and the latest economic conditions that challenge both larger and community-based financial institutions. Those who attend the planning meeting, find a presenter or introduce a speaker at the conference receive complimentary conference registration.

HIGH SCHOOL EDUCATOR COMMITTEE

The High School Educator Committee was formed in 2020 to provide a forum for high school educators to discuss accounting in the classroom and engage WICPA members to promote the profession at their schools through career fairs, speaking in the classrooms and providing input on topics for the Educator Accounting Symposium. The committee consists of educator representatives from Wisconsin high schools that have accounting and/or business programs.

NOT-FOR-PROFIT CONFERENCE PLANNING COMMITTEE

The Not-for-Profit Accounting Conference provides all levels of financial professionals in nonprofit and health care organizations with the knowledge, insight and strategies to use when facing accounting and financial challenges specific to their organizations with topics including tax-exempt issues, fundraising and risk management. Those who attend the planning meeting, find a presenter or introduce a speaker at the conference receive complimentary conference registration.

PUBLIC POLICY COMMITTEE

The Public Policy Committee is vigilant in monitoring public policy issues that impact the profession and in recommending and implementing appropriate actions and responses to our state’s elected representatives and other policy-making bodies.

SCHOOL DISTRICT AUDIT CONFERENCE PLANNING COMMITTEE

The School District Audit Conference, in collaboration with the Wisconsin Department of Public Instruction, provides the only training for auditors of Wisconsin public school districts and private school choice program schools. This includes the latest auditing updates, developments and tools they can use to better serve school districts and their communities. Those who attend the planning meeting, find a presenter or introduce a speaker at the conference receive complimentary conference registration.

Accounting Career Awareness in the Classroom

Wisconsin high school accounting and business teachers were eligible again this school year to apply for an Accounting Career Awareness grant from the WICPA Educational Foundation. The foundation awarded grants to 13 high school accounting and business teachers for classroom projects in 2025. The WICPA Educational Foundation congratulates these educators and thanks them for cultivating the accounting profession in their classrooms. The following are the grant recipients and their projects:

Farah Brown, Preble High School — For four teams of students to compete in a forensic accounting competition at Lakeland University in Plymouth.

Sandra Davies, Mauston School District — For accounting and personal finance students to participate in the inaugural High School Accounting Case Competition at UW–Madison.

Stacy Gebhard, Oconomowoc High School — For the accounting class to travel to Milwaukee to tour American Family Field and speak with the Milwaukee Brewers’ Finance Department; then to visit Deloitte’s Milwaukee office to learn about the firm’s Deloitte Academy workshops.

“My students are very interested in sports, and speaking with accounting professionals who deal with financials related to athletes and players opens their eyes to the possibilities out there.”

Samantha Goss, Fennimore High School — For a field trip to visit several businesses, including the Kwik Trip corporate office in La Crosse, the Kalahari Resort in the Wisconsin Dells and MBE CPAs in Baraboo.

Mary Helgemoe, Beaver Dam High School — For a field trip to Milwaukee so students could tour American Family Field and meet with a Milwaukee Brewers CPA (Cory Loppnow) to have him discuss with the students his role in the organization, what a typical day looks like, and what type of schooling they needed to get the position.

“We did this last year, and it was so good for students to hear how an accounting degree can take them in so many directions.”

Nicole Kube, Gale-Ettrick-Trempealeau High School — For a field trip to Green Bay to tour Lambeau Field and meet three accountants who work for the Green Bay Packers.

Zachary Lynn, Potosi High School — For a field trip to Madison to tour Wipfli LLP and meet with professionals to learn about careers in accounting and forensic accounting; and then to tour 100state, a premier coworking space for entrepreneurs.

Becky Marquardt, New London High School — For a field trip to Madison to visit and meet with CPA professionals at BDO USA LLP and the Kohl Center; and to enable students to complete the Brooke’s Books “Intro to Accounting” simulation to learn more real-world accounting tasks and objectives.

Stacy Gebhard’s Oconomowoc High School class toured American Family Field.

Samantha Goss’ Fennimore High School class visited Pla Mor Lanes to learn about the ups and downs of entrepreneurship.

MEMBERSHIP MILESTONES *

5-YEAR MEMBERS

Amber T. Achterberg

Adriana N. Albavera

Mary B. Albrecht

Augusto W. Alinea

Michael R. Amidzich

Anthony Anderson

Kyle Ashauer

Daniel J. Axtman

John H. Bacon

Sara Bacon

Sean F. Bailey

Gary P. Bergstrom

Gregory P. Berken

Jodi Bischoff

Patricia Blackwell

Korynna P. Blader

Jessica Brandenburg

Francesca A. Brueggeman

Claire A. Byrne

Jacob Caelwaerts

Sarah Campbell

Michael W. Carpenter

Todd A. Carpenter

Raven D. Carroll

Christine Clarey

Priscilla Coe

Kent Collier

Dan Czernicki

Paige A. Dassow

Mary E. Dennis Strand

Dylan K. DesRochers

Jason T. Diehl

Janeen M. Dietsche

Tina Dilley

Eric R. Dolan

Elizabeth M. Dreikosen

Teresa M. Duda

Thomas J. Eling

Elizabeth Ellis

Vickie L. Eppler

Cole T. Erickson

Brittany J. Eronson

Karen M. Eslinger

Jason J. Faanes

Abigail L. Fahey

Jennifer A. Flynn

Dylan A. Frea

Matthew B. Friedel

Alexander J. Gianos-Steinberg

Jonathan H. Gibson

Ben J. Gmeinder

Brent Gostomski

Julie Grafmeier

Sylvia Grant

Andrew S. Greene

Daniel S. Grogan

Patrick W. Harden

Tanner W. Hayes

Michael J. Heck

Tyler A. Henkel

Sara L. Hertzfeld

Tanya Hilgart

Joshua D. Hintz

Samantha Hipsky

Deborah Hogan

Judy Holappa

Keri L. Holder

Gina Holmes

Hayley F. Honeychurch

Blake Hort

Megan C. Hovell

Heidi L. Hubatch

Scott Hubatch

Carly A. Hutchins

Bruce R. Hutler

Stephanie S. Jahnke

Dawn Jameson

Carol A. Janssen

Noah J. Janssen

David J. Jens

Cody T. Judnic

Brandon K. Kagerbauer

Matthew A. Kaiser

Sophia L. Karlovich

Andrew D. Kaukl

Lyssa L. Kemper

Amy Kiefer

Annamarie A. Kirsanoff

Rebecca Kitt

Shelby L. Knox

Heather M. Kormanik

Kelly A. Kozak

Michael F. Kresl

Eric J. Kroll

Jacqueline Kubat

Justin Kudick

Brent J. Kuehl

Kylee N. Kujellis

Cassie R. Kurek

Lisa M. Lang

Amanda Larsen

Jonathan D. Larson

Amber Laska

Kerry Laurin

Debbie Leising

Michael J. Lemanski

Nicholas Leonard

Emily S. Lieffring

Mikkayla J. Liegel

Jennifer M. Lilla

Paul Logan

Lu Lu Lian

Laura B. Madison

Tammy Makovec

Jessica N. Mallon

Jennifer L. Mares

Whitney L. Mauger

Amy M. McCutchen

Matt Meekma

Eric W. Melster

Matthew W. Metzig

Ana K. Metzler

Greg T. Metzler

Adam R. Meyer

Sarah Michiels

Brandon Miles

Brandon Minnig

Megan Mirissage

Christina Mitchell

Andrew Mohr

Jean M. Mosher

Sara B. Muchka

Holly B. Muehl-Pett

Amber M. Mulrooney

Amanda E. Nadas

Ann M. Nelson

Tyler Ninneman

Brian R. Nordness

*Membership milestones are based on years of membership as of calendar year 2024.

Teresa O’Dell

Kevin A. O’Leary

Brianna A. Olson

Emily S. Olson

Sue Pacetti

Isaac A. Patterson

M. Susan Perkins

Jason Pertzborn

Marissa L. Powers

Matthew D. Prah

Barbara Pulver

Allison D. Raddant

Jan Redig

Rebekah M. Richgels

Ashley R. Rieder

Ellen Ripp

Brandon Roberts

Nicole L. Robinson

David Rogers

Alissa Roggenbauer

Monica K. Rohe

Ryan J. Rossi

Peter L. Roth

Kaydee Ruppert

Emily E. Russart

Rocio Santa

Erin Scherbert

Heather L. Schmidt

Richard J. Schuh

Celeste A. Scola

Megan Siesennop Martinez

David J. Silver

Alexis C. Skeffington

Samuel W. Sladky

Stacy L. Slatky

Scott Spelich

Sharon Steinke

Amanda M. Stradel

Eric Stream

Arnold J. Stueber

Mary Stueber

Kari Theis

David M. Thomas

Robert C. Thompson

Tyler L. Thompson

Elizabeth Tillema

MEMBERSHIP MILESTONES *

5-YEAR MEMBERS, CONT.

Marcia Tillett-Zinzow

Travis Tilque

Rebecca Tobin

Emily Tomlinson

Dan W. Trudgeon

Lisa M. Trzebiatowski

Jina Tworek

Cory Uebele

Michael R. Uhen

Kelsey VanDeLoo

Zingkong Vang

Timothy J. Voss

Jill E. Wallschlaeger

Sacia Wheeler

Rachel L. Wiedmeyer

Nate Wilkinson

Taylor R. Willems

Steve Wills

Aaron Wintheiser

Lisa Zajc

10-YEAR

MEMBERS

Dana R. Allen

Linda Amann

Brian M. Anderson

Jeffrey S. Audretsch

Suzanne Baierl Schrank

Dustin E. Bakalars

Nathaniel T. Bartz

Brian G. Becker

Caitlin Behncke

Patricia A. Birschbach

Mallory Bocek

Joshua M. Boeldt

Robert Bohnert

Nicole M. Boldt

Holly L. Breien

Paul Brester

Ting M. Burazin

Rachel A. Burrow

Daniel C. Carroll

Elizabeth L. Chizeck

Kathleen Ciantar

Kelly A. Cowhig

Tony J. D’Alessio

Dana A. Delsman

Brian DelVecchio

Amanda K. Djurickovic

Linda M. Dolezalek

David J. Doro

Daniel S. Ellenberger

Stephanie A. Evans

Ryan T. Filtz

Theresa A. Frey

Lyudmila V. Gomenouk

Vicki E. Gramse

Andrew Gutierrez

Heather R. Hanson

Anne C. Haraldsen

Dennis J. Heim

Bryan J. Helt

Michael L. Hermanson

Jill I. Hinson

Jenna L. Hintz

Yousuf R. Hirani

Justin D. Hoagland

Bruce A. Hoefler

Heidi K. Hoffman

Rebecca M. Holman

Adrienne M. Houck

Gregory A. Ichel

Maria Ideker

Christopher E. Iverson

Hannah Jensen

Ken L. Jensen

Nicole Jeske

Andrew Johns

Bryan T. Johnson

Mitchell Jussila

Douglas J. Kazmerchek

Molly J. Kolton

Thomas L. Koops

Daniel Kusilek

Nathaniel J. Logan

Cory Loppnow

Daniel T. Ludwig

Daniel W. Lueck

Nicole Malueg

Ryan Maniscalco

Christopher Marks

Nicholas K. Marsh

Derek Matzke

Michael D. Meckstroth

Cindy A. Meicher

Brittany A. Mergen

Stephanie Nelson

Kimberly A. Nygard

Timothy P. O’Brien

Laura L. Olson

Anna M. Pasanen

Lucas L. Petzold

Stephanie A. Potter

Stuart P. Randall

Chris D. Remitz

Antone Revolinski

Justin J. Rukamp

Nicholas R. Sattler

Aycha Sawa, CIA

Gina Schneider

Kelly Schuh

Christina M. Schultz

David M. Setzer

Randall C. Sherfinski

Jacquelyn Sincoular

Gina C. Skibo

Anthony M. Speel

Nicholas A. Speel

Curtis A. Stang

Tyler Starbird

Jeffrey G. Stark

Dustin Stelse

Scott O. Stuckmann

Nicholas J. Sullivan

Joshua D. TeBeest

Lisa Toennies

Julie Troullier

Tina M. Trumbower

Ben Uhen

Lauren M. Van Ryzin

Jesse J. Veeser

Barbara Vertein

Brad M. Voght

Kristen L. Voster

John J. Wagner

Andrew A. Wallace

Jeremy R. Wedell

Shane R. Weiske

*Membership milestones are based on years of membership as of calendar year 2024.

Brooke M. Weitzer

Marco Wenzel

Paul J. Westberg

Jason C. Winchell

June Winkel

Tyrrell Wirkus

Joan Wojtalewicz

Jasmine M. Wolf

Nicole M. Wood Pales

William W. Wood Jr.

25-YEAR MEMBERS

David J. Adler

Michael R. Arndorfer

Cheryl L. Aschenbrener

Diane L. Bancroft-DeYoung

Stephanie Barganz-Ryan

Barbara E. Barkhaus

Brien P. Batley

Cory L. Berget

Tonya Berget

Nicole J. Best

Ronda E. Borowski

Stacy M. Braaksma

LuAnn E. Bunch

Susan C. Butler

Edward L. Calvey

Heather P. Carroll

Ava Casey

Evonne J. Cash

Lonny J. Charles

Lisa M. Christensen

Craig A. Cookle

Roxann V. Cowan

Aaron P. Cullen

Kevin R. Dahlke

Jeffrey W. Danen

Jamie L. Davister

Kristen K. DeGrave

Gina M. DeRosso

Richard A. Diaz

Mark V. Diederich

Julie L. Dietmann

Karen A. Doerner

Terrence T. Drone

25-YEAR MEMBERS,

Jason T. Duellman

Mark G. Dundon

Jeffrey W. Dvorachek

Timothy D. Dyer

Kevin L. Eiden

Christie A. Felton

Kelly J. Fitt

Melissa A. Frivold

Tina M. Funk

Mark G. Gassner

Linae P. Golla

Bryan F. Grunewald

Brett A. Heath

Shelly L. Heer

Michelle M. Hemling

Brad J. Hermes

Cynthia L. Hintz

Patrick G. Hoffert

John E. Hooyman

David A. Jansen

Abigail S. Johnson

Robert W. Kastenschmidt

Lynn A. Keller

Michelle M. Kelsey

Stacy L. Kerwin

Darrelee M. Kinas

Paul D. Kolo

Steven J. Koritzinsky

Coleen B. Krasowski

Brian A. Kubik

Jeffrey S. Kuhnle

Richard M. Larsen

Matthew Lavold

Abraham H. Leis

Jenifer D. Lezotte

Tracy L. Lindgren

Tammy L. Lindvig

Rebecca S. Lund

Colleen T. Mala

Danny J. Maurina

Patricia A. McDermott

Eric R. Melka

Mary E. Michaelson

Kelly K. Miller

Kristine M. Moen

Tara L. Monson

CONT.

Donald Moreau

Andrew Mugerauer

Kristina M. Neel

Anthony R. Palermo

Charles J. Pavlik

Kevin J. Peura

Neil A. Pfaff

Laura E. Piotrowski

Mitchell D. Poppen

Brian H. Quitzow

Jeffrey P. Radish

Jill M. Rettler

Mark M. Rhode

Edita Rimalovsky

Mary A. Rozek

Jessica L. Ryan

Dominic J. Ryder

Scott M. Sannes

Matthew J. Schaefer

Kevin D. Schalk

Michael A. Schinabeck

Nancy K. Schmidt

James M. Schneider

Michael W. Senske

Tessa M. Smith-Greisch

Annette L. Stenzel

Kory J. Stoehr

Andrew M. Stovich

Christine J. Taylor

Jane M. Tereba

Corey C. Tremaine

Michael J. Umhoefer

Chad M. Waldvogel

Melinda S. Walker

Mary C. White

Aaron W. Worthman

Chad M. Zeller

Joseph P. Zeps

Christopher C. Zwygart

40-YEAR MEMBERS

Carl D. Anderson

Kathryn A. Andrea

David J. Babel

David D. Bain

Paul A. Baniel

Thomas M. Baukus

Mary L. Bonte Spath

Karen J. Boucher

Pamela R. Branshaw

Peter R. Bray

Fred G. Broihahn

Jonny J. Buroker

Cheryl A. Connor

Thomas D. DeByle

Patrick J. Derpinghaus

Sam Emanuele

Gary J. Ermers

Natalie K. Erpenbach

James G. Esser

Steven W. Felhofer

Erina D. Fitzgerald

David M. Geertsen

Craig R. Grinde

John C. Haertel

Thomas E. Haley

Robert F. Hartzheim Jr.

Mary J. Hinske

Henry A. Jasper

Jane F. Jerzak

Debra R. Johnson

Dwayne G. Johnson

Barbara A. Kane

Kenneth D. Klemm

Mark A. Knuth

Scott B. Koehler

Robert A. Konop

William J. Korducki

Ann T. Kropp

Mark P. Kruncos

Karen A. Kuehl

Kevin M. Loomans

Ronald J. Lyon

Karen B. Maclay

Lucretia S. Mattson

David L. Maurer

Patrick B. Mehigan

Allan K. Michalski

Robert C. Miller

Jack M. Oster

Susan A. Patz

*Membership milestones are based on years of membership as of calendar year 2024.

Daniel P. Pichler

Suzan F. Pickering

Gary R. Pribanich

Deborah A. Rankin

Steven S. Rozansky

John G. Sawtell

Michael J. Schick

Robert J. Schoofs

David R. Schultz

Patty A. Smith

Thomas J. Stanczyk

William S. Tatman

Thomas P. Taylor

Norman A. Wahn

Richard R. Wilberg

Roger L. Wood

Richard S. Wunsch

Joseph D. Zaks

50-YEAR MEMBERS

Steven C. Barney

Gary L. Berger

William P. Cherek

Paul C. Cinquemani II

Gerald E. Denor

Charles H. Gietzel

John M. Hicks

Carl F. Kantner

James H. Kiekhaefer

David E. Kimpel

Patrick H. Landreman

Howard C. Miller

Gordon C. Mueller

Robert J. Nenahlo

Gary J. Nilles

Steven E. O’Brien

Edward J. Pas

Patrick M. Pennefeather

Clarence A. Peters

David D. Smrecek

Jane M. Somers

Martin C. Thomas

Alan A. Todryk

Jeffrey L. Uecker

Associated Bank Private Wealth

Associated Bank Private Wealth provides access to a full suite of financial and wealth planning solutions all built around your unique needs, including employer retirement plan solutions, customized investment management, exclusive private banking services, and comprehensive trust and estate services. Learn more at AssociatedBank.com/Wealth.

EPSA USA

Maximize tax savings for your clients with EPSA USA! We specialize in the R&D tax credit, 179D deduction and Section 174 amortization for companies of all sizes. Partner with us to enhance your services and deliver results. Learn more at www.us.epsa.com.

M3 Insurance

M3 is a top insurance broker and risk management firm in America. We’re leaders in the products we represent and the industries we serve. M3 is an extension of your team, providing world-class resources to help you manage risk, purchase insurance and provide employee benefits.

affinity partners and more can be found at wicpa.org/discounts.

STRENGTHEN YOUR NETWORK

Consider creating a team with co-workers, clients or other professional connections for some quality time out of the office.