Super CPA Profile: Katherine D. McDaniel

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Harris, Harvey, Neal & Co. LLP

Title: Partner
Birthplace:  Danville
Education: Virginia Tech, bachelor’s degree in accounting
Spouse:  Randall J. McDaniel
Children: Jacob, 12
Favorite vacation spot: Grand Canyon
Fan of: Virginia Tech Hokies
First accounting job:  Staff accountant with Anderson & Reed LLP in Roanoke
Career mentor:  “My father, H. Dan Davis, and my partner, L. Samuel Saunders”

When trends are you seeing in estate planning and trusts?
“The estate and gift tax exemptions have been reunified, and the current exemption amount is $5.12 million. With the gift exemption being at a historical high, I am seeing more clients interested in transferring huge amounts of wealth to their children before the end of 2012.  Unless Congress acts, the estate and gift tax exemptions will be decreasing to $1 million on Jan. 1, 2013, so this is an ideal time to consider making substantial lifetime gifts.”

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