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Meet Our Team Upstream Tax Partners, Tax and Accounting

Susan Engelstad, CPA

Sue Engelstad holds a bachelor of Science Degree in Accounting from the University of Connecticut. Prior to joining the firm in 2020, Sue ran her own firm for over 30 years. She has assisted clients in many states and provides a strong base for practical solutions to tax issues facing her clients. Susan prides herself on the relationships she has developed with her clients and their advisors. She works well as a team member to ensure that the clients are meeting their wealth preservation objectives and that the client is fully informed.

She is a Past Presdient of the Smoky Hill Rotary Club and has travelled to Romania to deliver medical equpment through Project Cure.




Meet Our Team Upstream Tax Partners, Tax and Accounting

Carol Ann Freeman, CPA

Carol Freeman is a licensed Colorado Certified Public Accountant and holds a BS Degree in Accounting and a BA Degree in Business Management with a minor in Marketing from Colorado Mesa University. She has worked for several CPA firms in Grand Junction, Colorado as well as Florida before opening her own firm in 2001. She has over 30 years of experience in tax and accounting in both public and non-profit sectors.

She is an active member of the AICPA as well as the Colorado Society of CPA’s.

She is active in her church and enjoys music, traveling, hiking, rafting, skiing, playing racquetball with her friends, and spending time with her daughter and four grandchildren.

Phone: (970) 245-1984



Meet Our Team Upstream Tax Partners, Tax and Accounting

Michael S. Duncan, CPA, MST

Michael Duncan is an actively licensed Colorado Certified Public Accountant with over 20 years of auditing, tax, and accounting experience in public, private, nonprofit organizations, and 401(k) Plans in many industries including personal service corporations, manufacturing, real estate, energy (mining, oil, and gas), high-tech (SAAS), and construction. He has worked for various public accounting firms including KMJ Corbin and Company and Squar Milner in California, EKS&H (Plante Moran) and CBIZ/Mayer Hoffman McCann in Colorado, and was a Manager of SEC Financial Reporting for US GAAP at Great West Life and Annuity Corporation.

He holds a Bachelors of Science in Accountancy degree from Cal Poly Pomona and a Master of Science in Taxation degree from Golden Gate University in San Francisco, California. He became a Certified Public Accountant in 1999.

He is very active as Treasurer for the Boy Scouts of America Troop 628 in Lone Tree and is happily married with two boys in the Boy Scouts (Life and Second Class), enjoys playing golf, photography, and spending time with family and friends.

Phone: (720) 639-3816



Meet Our Team Upstream Tax Partners, Tax and Accounting

Kathryne Valdez, MBA

Kathy graduated from California State University – Long Beach and California State University - Stanislaus with an MBA and a Master of Science Degree in Accounting/Finance. For twenty-five plus years, Ms. Valdez has been providing accounting services for individuals, nonprofits, trusts and various business entities. She has experience in monthly account reconciliations, financial statement, budget and long-rangecash flow preparation, audit preparation, compliance reports with the state, 1099s and W-2 preparation, process payroll, train staff and provide other services as needed, tax compliance for pass-through entities, rental real estate, oil and gas, construction contractors and a variety of state returns. Project assistance for finance departments, including budget preparation, financial systems implementations, audit preparation, account reconciliations and financial statement preparation, and overall accounting catch up and clean up. Expert in payroll preparation in house or in conjunction with an outside provider, employment taxation rules and regulations, IRS and California/Colorado tax return preparation, W-2 and 1099 reporting, and reporting to CalPERS. Assisted multiple agencies in IRS and California EDD/Colorado employment taxation audits. QuickBooks Pro Advisor and expert in all versions of QuickBooks.

Phone: (970) 985-1932




Meet Our Team Upstream Tax Partners, Tax and Accounting

Pei (Joanna) Cheng, EA

Pei Cheng (or call her Joanna) is an active Enrolled Agent; she has a BA in Accounting from New Mexico State University. She started her career as a tax preparer in Jackson Hewitt for two seasons and Master Tax Advisor in H&R Block for one season before moved to Denver in 2019.

When she has free time, she likes to listen the K-pop music, watch movies, and spend some time with her family and friends.

Phone: (720) 432-5438




Meet Our Team Upstream Tax Partners, Tax and Accounting

Andrew Moranchel, CPA

Andrew has been in public practice for close to 10 years and is an actively licensed California Certified Public Accountant. After graduating from the University of Hawai'i at Manoa with a Bachelor of Science in Accounting, he decided to stay in Hawai'i to pursue his professional career in Public Accounting. Orginally from Southern California, he returned to work for a large California-based firm, Squar Milner, and then a large national firm, Baker Tilly, where he gained a vast amount of technical knowledge that has led him to become one of the leading CPA's in the area. Andrew has strong industry experience in Real Estate, Technology, Hospitality, Construction, nonprofit organizations and Healthcare while still having a varied experience in many other industries.

Andrew is an active member in the California Society of Certified Public Accountants (CalCPA) and the American Institute of Certified Public Accountants (AICPA)

Andrew enjoys traveling, running, hiking and surfing while also taking care of his family and a new puppy.



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