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Follansbee
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Follansbee
Showing 1 to 2 of 2 CPAs in Follansbee, West Virginia
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Mary Olashuk
Certified Public Accountant
Verified Licensed
Location Follansbee, West Virginia 26037
Mary Olashuk, a certified public accountant, has been serving clients in Follansbee, West Virginia, for over a decade. Her professional experience encompasses a wide range of accounting services, including payroll processing and compliance, tax planning and consulting, as well as financial planning for various business structures such as S-Corps, partnerships, and LLCs. Olashuk specializes in providing basic accounting services, business tax services, and financial planning to family-owned enterprises and other business entities. Her expertise in ensuring tax compliance and optimizing business finances has earned her a reputation as a trusted advisor in the region.
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Virgil G. Thompson
Certified Public Accountant
Verified Licensed
Location Follansbee, West Virginia 26037
Practicing as a certified public accountant in Follansbee, West Virginia, Virgil G. Thompson has provided financial guidance to family-owned enterprises and various business structures since 2005. With a specialization in small business accounting, he offers bookkeeping and financial statement compilation services, ensuring clients maintain accurate and up-to-date records. Additionally, he provides payroll processing and compliance services to minimize tax liabilities and ensure timely payment of employee wages.

West Virginia's CPA community serves a small, mountainous state with traditional industries facing economic transitions. The West Virginia Board of Accountancy requires 150 semester hours for licensure. CPAs must complete 120 hours of continuing professional education every three years, including 3 hours of ethics and minimum technical requirements.

Key Tax Considerations: West Virginia has graduated individual income tax up to 5.12% and graduated corporate tax up to 6.5%. CPAs commonly handle state income tax compliance, sales tax, and severance taxes on coal and natural gas extraction. The state offers various tax credits for economic development trying to attract and retain businesses. Energy industry taxation requires specialized knowledge of depletion, production taxes, and mineral rights. Cross-border issues with Virginia, Ohio, and Pennsylvania are common for businesses and residents in border areas.

Industry Specializations: Energy (coal, natural gas, declining but still significant), healthcare systems, chemical manufacturing, tourism and outdoor recreation, higher education, government services, and small manufacturing are key practice areas. CPAs often work with clients navigating economic transition, energy industry changes, and diversification efforts. The state's challenges create opportunities in business restructuring, tax credit maximization, and advisory services.

For CPA Professionals: The West Virginia Society of CPAs serves a small professional community across a mountainous state creating geographic challenges. Charleston (state capital) provides the largest market, while Morgantown (university town), Huntington, and Wheeling serve regional markets. The state faces significant economic challenges with declining coal industry and out-migration, creating difficulties but also opportunities for practitioners willing to help businesses and individuals navigate transition. Very low cost of living and strong community connections appeal to lifestyle-focused practitioners. Rural areas experience CPA shortages, and the state's aging practitioner base creates succession planning opportunities for younger CPAs willing to serve Appalachian communities.