Brady Martz Named Among Accounting Today’s 2024 Regional Leaders

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Top 100 nationally ranked accounting and advisory services firm Brady Martz & Associates today announced that the Firm was recently named among Accounting Today’s Regional Leaders for the Midwest. Each year, Accounting Today releases an annual ranking of the leading national and regional firms, as well as their chief executives’ take on the major issues facing their firms, and their strategies for success for 2024 and beyond.

“Earning a position among Accounting Today’s regional leaders underscores the relentless effort and commitment of every individual on our team,” CEO Todd Van Dusen said. “Our experienced professionals work tirelessly to anticipate our clients’ needs, offering proactive advice that empowers them to navigate decisions with assurance. As the accounting landscape continues to transform, our dedication to remaining ahead of the curve is steadfast.”

To learn more and view the 2024 leading national and local firms, visit accountingtoday.com.

Founded in 1927, Brady Martz has been providing exceptional client service for nearly a century. Headquartered in Grand Forks, the firm has nine offices throughout North Dakota, Minnesota, and South Dakota. Brady Martz is proud to offer advisory, audit & assurance, and tax services to clients in a wide variety of industries.

Brady Martz COO Stacy DuToit Recognized as Prairie Business Top 25 Women in Business

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Top 100 nationally ranked accounting and advisory services firm Brady Martz & Associates today announced that Chief Operating Officer (COO) Stacy DuToit has been recognized among the Top 25 Women in Business by Prairie Business magazine. This award is open to female business leaders in North Dakota, western Minnesota, and South Dakota whose achievements make them stand out in their companies and communities.

“I have had the opportunity to work with Stacy from the time she joined the Firm as an associate through to her progression to a shareholder. In addition to earning ownership in Brady Martz, she has held several leadership roles including serving as a member on our board of directors, a market segment lead, and now our first ever Chief Operating Officer,” CEO Todd Van Dusen said. “At each stage of her career, Stacy has led by example through both her words and actions. She exemplifies what it means to be a real professional and a great leader. Stacy truly makes a positive difference where it matters most to our team members, clients, and communities.”

DuToit is a Certified Public Accountant (CPA) experienced in auditing, accounting, tax, and business consulting services for privately owned businesses. She is a member of the American Institute of Certified Public Accountants (AICPA) and the North Dakota Society of Certified Public Accountants (NDSCPA). DuToit currently serves on the Bismarck-Mandan Chamber Foundation board. She is a former Trustee of the North Dakota Certified Public Accountants Society Foundation. Additionally, DuToit is a past member of the public relations committee of the NDSCPA as well as a past board member of the Bismarck Downtowners Association and past volunteer with the North Dakota Jump$tart Coalition.

DuToit shared her gratitude, saying, “I am deeply honored to be included among such an esteemed group of leaders. This recognition is not only a testament to my personal commitment to excellence in our profession but also reflects the hard work and dedication of our entire team at Brady Martz. I am grateful for the support of my colleagues, our clients, and the community, which has been integral to our success. Together, we continue to drive positive change and innovation in our industry, and I am excited about what the future holds for all of us at Brady Martz. Thank you to Prairie Business for this incredible honor and for highlighting the achievements of women in business across our region.”

Brady Martz shareholders recently voted for DuToit to become the Firm’s next CEO upon Van Dusen’s retirement effective October 1, 2024.

Founded in 1927, Brady Martz has been providing exceptional client service for nearly a century. Headquartered in Grand Forks, the firm has nine offices throughout North Dakota, Minnesota, and South Dakota. Brady Martz is proud to offer advisory, audit & assurance, and tax services to clients in a wide variety of industries.

Brady Martz CEO Todd Van Dusen Announces Intention to Retire

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Top 100 nationally ranked accounting firm Brady Martz & Associates today announced that CEO Todd Van Dusen intends to retire in 2024.

“I’m proud of what we’ve accomplished at Brady Martz and of the incredibly talented and committed people I work with every day,” said Van Dusen. “Together, we have reimagined financial and business advisory services, and worked to improve the financial health of our clients and communities. It has been a privilege to spend the past 30 plus years serving both. However, I’d now like to devote more time to my passions outside the workplace. I remain committed to working closely with the Board and my successor, Stacy DuToit, for a smooth transition.”

After Van Dusen notified the Board of his intentions, the process to determine Brady Martz’s next CEO was initiated culminating with a vote of the full shareholder group. Current Chief Operating Officer (COO) Stacy DuToit has been elected to serve as the Firm’s next CEO. DuToit will assume the role effective October 1, 2024.

Board Chairperson Perry Mattson said, “Todd has made an extraordinarily positive and lasting impact on Brady Martz and our people. His decision to retire marks the end of a remarkable run that has seen impressive accomplishments in establishing Brady Martz as a trusted brand. Todd has delivered for our shareholders, team members, clients, and communities. On behalf of the entire Board, I want to thank him for his service and commitment to supporting a smooth transition.”

Van Dusen joined Brady Martz in January 1989 as an intern and then spent the next 20 years of his career in client service. During his tenure, he’s had the opportunity to work in various areas of the accounting industry such as audit, tax, and business valuation. Additionally, he’s served in several leadership roles including Market Segment Lead for the Minot office and Board Member. Under Van Dusen’s leadership, Brady Martz has grown to nearly 400 team members, including more than 50 shareholders, and serves communities in North Dakota, Minnesota, and South Dakota. He is a member of the North Dakota CPA Society (NDCPAS), American Institute of Certified Public Accountants (AICPA), and Minot State University Alumni Association.

Founded in 1927, Brady Martz has been providing exceptional client service for nearly a century. Headquartered in Grand Forks, the firm has nine offices throughout North Dakota, Minnesota, and South Dakota. Brady Martz is proud to offer advisory, audit & assurance, and tax services to clients in a wide variety of industries.

Brady Martz and Woltman Group, PLLC to Merge

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Top 100 nationally ranked accounting firm Brady Martz & Associates is excited to announce its expansion into the state of South Dakota. Effective October 1, 2023, Woltman Group, PLLC will join Brady Martz.

“We are excited for this opportunity to expand our team and geographic footprint into the growing Sioux Falls market,” said Todd Van Dusen, Brady Martz Chief Executive Officer. “The combination of our firms will enhance career path opportunities for our team members as well as service opportunities for clients.”

Woltman Group has been providing accounting, tax, and advisory services to businesses and individuals since 1988 when they were Pfeiffer Woltman Kutz, PC. From 2008-2010, several additional partners joined the firm and in 2016, it was reorganized and rebranded as Woltman Group. Today, the firm proudly serves thousands of business and individual clients throughout the upper Midwest. Their experienced team provides a wide variety of personalized business advisory services in addition to a full line of traditional accounting and tax services. Woltman Group has offices in Sioux Falls and Marion, South Dakota.

“We can’t wait to start working with the Brady Martz team,” said Eric DeHaan, Managing Shareholder for Woltman Group. “Joining Brady Martz will allow us to continue to create opportunities for our team and increase value and expertise for our clients.”

President Biden Signs Inflation Reduction Act into Law

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On August 16, President Biden signed the Inflation Reduction Act (IRA) into law. The enormous bill—clocking in at 725 pages—contains a wide range of provisions and comes with a nearly $750 billion price tag. “The bill is fighting inflation and has a whole lot of collateral benefits as well,” said former Treasury Secretary Larry Summers, who reportedly helped craft the legislation.

Read on for an overview of the key items contained in the new act.

Provisions for Funding the IRA

In order to cover the $750 billion price tag of the IRA, authors of the legislation included a variety of savings- and revenue-related provisions. Here is a breakdown of how the IRA will be funded (please note that the numbers are estimates from the Joint Committee on Taxation and the Congressional Budget Office):

  1. Savings in the Healthcare Arena ($288 billion)
    1. Repeal of a Trump-era drug rebate rule
    2. An inflation cap on drug prices
    3. An allowance for Medicare to negotiate certain drug prices
  2. New Revenue
    1. A new 15% corporate minimum tax for corporations with financial statement (“book”) income exceeding $1 billion ($313 billion)
    2. Increased revenue as a result of IRS tax enforcement funding ($124 billion)
    3. A 1% excise tax on corporate stock buybacks
    4. Methane and Superfund fees

How IRA Funds Will be Spent

So how will the $750 billion raised via savings and new revenue be spent? Here is a brief overview of initiatives included in the IRA (please note that the numbers are estimates from the Joint Committee on Taxation and the Congressional Budget Office):

  1. Climate & Energy Spending ($369 billion)
    1. Creation of new clean manufacturing tax credits
    2. Establishment of additional clean electricity grants and loans
    3. Creation of a new “Clean Energy Technology Accelerator”
    4. Incentivization of clean agriculture
    5. Incentivization of clean electronic vehicle manufacturing
    6. Additional energy and climate provisions
  2. Healthcare Spending ($64 Billion)
    1. A three-year extension of Obamacare subsidies for health care insurance costs
    2. A redesign of Medicare Part D and additional health care provisions
  3. IRS Funding
    1. Funding for increased IRS enforcement (namely, to enhance IT systems and compensate specialized employees—for more details, read IRS Commissioner Charles Rettig’s letter on the intended use of funding and plans for enforcement)
  4. Other Spending
    1. Reducing the Federal deficit ($300+ billion)

What’s Next?

Please be assured that your FIRM accounting advisors are keeping a close watch on the progress of the IRA and how it will impact your particular situation. You can reach out to your advisor if you have any specific questions regarding the new law.

Sources

  1. https://www.washingtonpost.com/us-policy/2022/07/28/manchin-schumer-climate-deal/
  2. https://finance.yahoo.com/news/inflation-reduction-act-how-a-new-bill-would-lower-costs-for-americans-200724803.html
  3. https://www.whitehouse.gov/briefing-room/speeches-remarks/2022/07/28/remarks-by-president-biden-on-the-inflation-reduction-act-of-2022/
  4. https://www.vox.com/policy-and-politics/23282983/inflation-reduction-act-kyrsten-sinema-josh-gottheimer
  5. https://www.cnn.com/2022/08/07/politics/senate-democrats-climate-health-care-bill-vote/index.html
  6. https://www.democrats.senate.gov/imo/media/doc/inflation_reduction_act_one_page_summary.pdf
  7. https://abcnews.go.com/Politics/senate-democrats-pass-climate-tax-health-care-bill/story?id=88067862

 

 

Avantax Planning Partners Recognizes Affiliate Accomplishments During Largest-ever National Conference

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Annual Elevate Conference showcases high-performance individuals and firms

Avantax Planning Partners℠, an employee-based RIA (registered investment advisor) that partners with CPA firms to provide clients with holistic financial planning, advisory services and retirement plan solutions, recently hosted its annual Elevate Conference, attended by accounting affiliates, sponsors and Avantax team members. The annual event gives attendees insights, best practices, and strategies to advance and deepen client relationships as it relates to wealth management and financial planning.

“The energy and enthusiasm of our CPA affiliates, sponsors and Avantax team members fueled this year’s Elevate conference from beginning to end,” said Louie Rosalez, President of Avantax Planning Partners. “The ideas, best practices and strategies we share with our affiliates, coupled with the hard work and dedication our affiliates give clients every day, delivers on the Avantax vision of profoundly impacting client lives by changing the way Americans plan and invest.”

This year’s conference – themed “Truth. Planning. And the Avantax way” – was conducted May 24 – May 26 in Des Moines, Iowa, and included educational sessions, networking opportunities, sponsor exhibits, and award presentations.

“The attractiveness of the Avantax Planning Partners model shows in the fact that this year’s event was the largest Elevate conference ever,” said Todd Mackay, President of Avantax Wealth Management®. “It was an honor to talk with so many of our accounting affiliates; seeing each other in person helps further deepen partnerships with our longtime partners and new members of the unique Avantax Community.”

As part of the annual awards night, Brady Martz president, Todd VanDusen, received the President’s Club award. This award is made up of the highest performing individuals among Avantax Planning Partners affiliates. President’s Club winners demonstrate exemplary productivity, client service, communication, planning guidance, and are advocates of Avantax Planning Partners.

In addition, Perry Mattson of Brady Martz & Associates received a Top Champion award recognizing Avantax Planning Partners’ top affiliates that exhibit leadership in planning and wealth management.

Brady Martz was also recognized as Firm of the Year. The Firm of the Year leads the Avantax Planning Partners nation in productivity, client service, communication, planning guidance, and are truly advocates of Avantax.

About Avantax Planning Partners℠
Avantax Planning PartnersSM is a national financial planning and wealth management firm that partners with CPA firms to combine and deliver holistic financial and tax-planning services to their clients. Using the Guidance Planning Strategies planning tool, Avantax Planning Partners visually lays out a long-term plan, considering a wide array of financial decisions and their potential impacts on clients’ financial health. Through this unique and proven approach, Avantax Planning Partners and CPA firms help clients make progress toward their financial goals through strategies such as asset management, estate planning, retirement planning, tax planning, risk management and more. The wealth management segment of Blucora, Inc. (NASDAQ: BCOR), which includes the Avantax Planning Partners℠ and Avantax Wealth Management® brands, had a collective
$86 billion in total client assets as of March 31, 2022. For more information, please visit us at www.avantax.com or on LinkedIn and Facebook.

Disclosure:

Investment advisory services are offered through Avantax Planning PartnersSM. Commission-based securities products are offered through Avantax Investment ServicesSM, Member FINRA, SIPC. Insurance services offered through licensed agents of Avantax Planning Partners. 3200 Olympus Blvd., Suite 100, Dallas, TX 75019. The Avantax entities are independent of and unrelated to Brady Martz & Associates. Although Avantax does not provide or supervise tax or accounting services, our Financial Professionals may offer these services through their independent outside business. Not all Financial Professionals are licensed to offer all products or services. Financial planning and investment advisory services require separate licenses.

Brady Martz Announces New Promotions

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The regional accounting firm of Brady Martz is excited to share that the firm has promoted Sidney Compton, EA, Rachel Jenson, CPA, Olivia Morton, CPA, Oakley Thoeny, CPA, Jolene Tollefson, CPA, Matthew Wrolstad, CPA, and Bradley Yoder, CPA to senior manager.

“These promotions make for a very exciting time at Brady Martz!” said Todd Van Dusen, President of Brady Martz. “These six professionals have worked diligently to serve the firm and our clients. They have demonstrated their dedication and proven that they are ready to take the next step in their careers. I would like to extend a sincere congratulations to Sidney, Rachel, Olivia, Oakley, Jolene, Matt, and Bradley.”

Compton joined Brady Martz in 2012, shortly after graduating from college. She works in both tax and audit. Compton holds a Bachelor of Science in Accounting and a Master of Science in Management from Minot State University. She is currently affiliated with the American Institute of Certified Public Accountants (AICPA), the North Dakota CPA Society (NDCPAS), and the Minot State University Alumni Association. Raised in Grand Forks, North Dakota, Compton currently lives in West Fargo with her husband and their two children.

In 2012, Jenson joined the Fiebiger, Swanson, West & Co (FSW) team; she later became a member of Brady Martz via its merger with FSW. She currently works in the firm’s Fargo office, helping to lead the Tax Department there. She serves both local and regional business in a variety of industries. Jenson graduated summa cum laude from Minnesota State University Moorhead in 2012, earning a Bachelor of Science in Accounting. She is a member of the AICPA and the NDCPAS. Raised in Crookston, Minnesota, Jenson now resides in Glyndon with her husband and their children.

Morton has been with Brady Martz since 2006 and works in the firm’s Audit Department. She holds a Bachelor of Science from St. Cloud University and is affiliated with the AICPA and the Minnesota Society of CPAs (MNCPA). Originally from Kuala Lumpur, Malaysia, Morton currently lives in Fertile, Minnesota with her husband and their two children.

Thoeny joined Brady Martz in 2013 and has spent the entirety of her professional career with the firm. She works primarily in trusts and estates and also serves as a co-leader of the firm’s Affordable Care Act (ACA) team. Thoeny graduated summa cum laude from Dickinson State University in 2013, earning a Bachelor of Science in Accounting with a minor in Leadership Studies. She is currently affiliated with the AICPA, the NDCPAS, the Western Dakota Estate Planning Council, the Red River Valley Estate Planning Council, and the Dickinson State University Alumni Association. Raised in Broadus, Montana, Thoeny currently lives in Dickinson, North Dakota.

Since 2011, Tollefson has been a member of the Brady Martz team—she has spent her entire career with the firm. Serving in the firm’s Tax Department, she specializes in cross-border taxation and tax-exempt organizations. Tollefson studied at the University of North Dakota, graduating summa cum laude in 2011 with a Bachelor of Accountancy. She is a member of the AICPA and the NDCPAS. Raised in Antler, North Dakota, Tollefson now lives in Grand Forks.

In 2015, Wrolstad joined Brady Martz via its merger with Dress Riskey & Vallager Ltd., which had had served since 2012. Today, he works in the firm’s Tax Department, serving both individuals and businesses and specializing in international tax issues. He holds a Bachelor of Accountancy from the University of North Dakota and is currently affiliated with the AICPA and the NDCPAS. Originally from Fargo, North Dakota, Matt currently lives in Grand Forks.

Yoder has been with Brady Martz since 2013. He is responsible for performing audits and completing 990 informational returns of non-profit and governmental entities. A graduate of Minot State University, he holds a Bachelor of Science degree. Yoder is currently affiliated with the AICPA and the NDCPAS. He sits on the boards of directors for Magic City Aquatics and the Minot Swim Club—he is treasurer of the former. He lives in Minot, North Dakota with his wife and their two children.

Jacob Franklin Featured on Well Grounded

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