Tom Bailey, CPA, CVA
Principal, Director - Real Estate and Construction Group
Thomas Bailey is a Principal and a Director of the Real Estate and Construction group at CBM – Councilor, Buchanan and Mitchell, P.C. Tom has more than 25 years of experience in the public accounting field and is actively involved in CBM’s Financial Services group.
Tom’s public accounting experience includes all areas of income taxation, planning and compliance, compilations, reviews, and business valuations. He also has substantial experience in the areas of individual and business income tax planning as well as estate, gift and trust taxes. He works mainly with construction contractors, other for profit businesses and individuals.
Professional Qualifications and Education
- Certified Public Accountant, Maryland
- Certified Valuation Analyst
- Bachelor of Science in Accounting, University of Maryland at College Park
Professional Associations and Activities
- American Institute of Certified Public Accountants (AICPA)
- Maryland Society of Certified Public Accountants
- Greater Washington Society of Certified Public Accountants (GWSCPA)
- National Association of Certified Valuation Analysts
Civic and Business Associations
- Education Committee Member, Associated Builders and Contractors of Metro Washington
- Member, American Subcontractors Association of Metro Washington (ASAMW)
- Professional Council Member, American Subcontractors Association of Metro Washington (ASAMW)
- Member, Catholic Charities Development Disabilities Advisory Council
Point of View:
Delivering a timely and accurate tax return/financial statement is a primary focus, but it is the client contact and the builing of the client relationship which the client appreciates.
My father was the biggest influence, when he stressed the importance of “people skills”, to be on time, to never quit.
My mentor in public accounting was Marty Redler, who had the patience to be a teacher and review the details of this profession.
My father-in-law, who immigrated from Italy with literally a small wooden suitcase, grew a successful construction business and along the way was a dedicated father of 11 children.
- May 29, 2020 – Navigating the SBA’s New PPP Loan Forgiveness Application and the Construction Industry
- May 5, 2020 – Q&A: The Small Business Administration, Relief Programs and Small Businesses in the COVID-19 Era
- April 14, 2020 – The Impact of the CARES Act and the Paycheck Protection Program on Small Businesses and Independent Contractors
- May 14, 2019 – Corporate and Individual Tax Planning Under the New Tax Law (for the American Subcontractors Association)
- May 22, 2018 – The Impact of the Tax Cuts and Jobs Act on Subcontractors (at the American Subcontractors Association Annual Meeting)
- January 30, 2018 – The Impact of the New Tax Legislation on Contractors and Subcontractors (for the American Subcontractors Association)
- What is your favorite memory? The birth of our two children and to see them grow up to be successful, young adults.
- Where is your favorite way to spend time? Traveling with my wife, Rose, now that we are “empty nesters”.
- What is one item on your bucket list? Skydiving
- Who is someone who you admire? My Grandfather, who graduated college in an era when most did not attend college, and who served in the Navy during WWII.