High ‘turnout’ in an election year
- October 31, 2012
More than 300 certified public accountants were named by their peers to the 2012 installment of Super CPAs.
Virginia Business has collaborated with the Virginia Society of Certified Public Accountants since 2001 in asking CPAs, to pick top professionals in 12 accounting categories.
This year, 8,088 VSCPA members received electronic ballots. Five hundred twenty-two CPAs nominated nearly 1,300 of their peers for the Super CPA list. From that group of nominees, about 325 professionals, 25 percent, were named Super CPAs this year.
In a presidential election year, the Super CPA “turnout” was up 12 percent from 2011. Four hundred sixty-five CPAs voted last year, nominating 1,085 of their peers. Two hundred ninety CPAs, were on the final list.
The following pages include short profiles of leading representatives in each accounting category. The profile subjects were picked from the top 10 vote getters in each group. The person featured, however, is not necessarily the top vote getter. Previous profile subjects were not considered.
One of the CPAs, profiled is Mark Tuck, a partner at Mitchell, Wiggins & Co. LLP under the Corporate Tax category. “The U.S. Constitution can be printed on five pages,” he says explaining the complexity of tax law. “The U.S. tax code exceeds 70,000 pages.”
Likewise, Katherine D. McDaniel, a partner with Harris, Harvey, Neal & Co. LLP in Danville, discusses trends in her field, Estate Planning and Trusts. She notes that the current estate and gift tax exemptions amount is $5.12 million, a historic high. “I am seeing more clients interested in transferring huge amounts of wealth to their children before the end of 2012,” she says. “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.”
In addition to picking the Super CPAs, VSCPA and its members have had a busy year.
For example, VSCPA pushed for practice mobility in Washington, D.C. Mobility grants CPAs, with valid licenses automatic practice privileges when they perform work outside, -their principal place of business.
Washington, D.C., Mayor Vincent Gray signed the Accountant Mobility Act into law, and it goes into effect Jan. 1. The law eliminates the need for Northern Virginia CPAs to have multiple licenses to practice in Washington, D.C.
In addition, VSCPA was among a number of groups helping to defeat six bills proposed in the General Assembly that would have created a preference for state and local firms that bid on publicly financed projects in the commonwealth.
VSCPA’s opposition was based on the potential for retaliatory actions on Virginia firms that bid on contracts in other states.