Laila Gallagher, CPA
Tax Services | Director | I work with middle market cash basis government contractors to provide full-circle tax planning.
Who I work with
The part of my job I appreciate the most is interacting with my clients and providing them with excellent service. I enjoy working with middle market cash basis government contractors to provide full-circle tax planning, including managing the return preparation of their personal taxes. My main points of contact are typically the CFOs and controllers, but I also work closely with the owners of these companies.
My specialty
I have a deep understanding in a wide range of tax disciplines, including pass-through entity income tax, multi-state income taxes and service revenue sourcing, and sale-side transaction consulting and compliance. In my role as Director, I am proud to share the knowledge and technical experience I have gained throughout my career and serve as a mentor to the associates, seniors and managers on my team.
Results I have delivered
I accelerated the deductibility transaction bonuses for a client, resulting in approximately $1.9 million of tax deferrals. On a sale transaction for this client, I suggested they proactively convert to an accrual basis before the transaction, otherwise, they were going to have a reduced sales price to cover the income deferred on a cash basis. By picking up the cash basis deferral prior to the transaction, they were able to fully offset what would have otherwise been limited under the business loss limitation.
Unique things about me
I have always been a thrill seeker from roller coasters to sky diving, but since having kids, I have been afraid of heights and get motion sick. However, I still don’t let that stop me from roller coasters and carnival rides!
When I am not at work
I love spending time with my kids — Bryce (6) and Addy (4). We enjoy going to the beach, attending local festivals and visiting the library. I especially love watching them experience something new for the first time, like learning a new sport. Prior to having kids, work was life, and I thought it should be for everyone. The best thing that ever happened to me professionally was having kids because it gave me a new perspective on life.
People say I am
Passionate about my work, thorough and loyal
Affiliations
I earned my Bachelor of Science from Virginia Tech in Accounting and Information Services. I am a member of Delta Sigma Pi business fraternity.