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Firm News

WE ARE HIRING! 

See our current Job Openings:

https://www.aaacpa.com/join-our-team


 

BREAKING NEWS: 

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Askey, Askey & Associates, CPA, LLC, is pleased to announce Christa Hood, CPA, and Monica Kempson, CPA, as partners of the firm effective June 1, 2022. Bob and Cathy Askey, both CPAs, created the firm in 1996 in Leonardtown, Maryland. The firm has grown over the past 25 years from nine employees to 23 employees in two offices, as well as remote employees in three states.

“Having worked with this team for over 14 years, I am thrilled to become partner at such an outstanding firm,” said Ms. Hood. “I look forward to continuing Askey’s history of community involvement and leadership.  I enjoy developing relationships with my clients and identifying how our services can help them to succeed.”

“I’m honored by the opportunity to serve the firm and our clients in this new role,” said Ms. Kempson. “We have seen such outstanding growth during a time of incredible disruption, and we are committed to continuing to support our clients with whatever the future brings for them. With such an amazing and supportive team, we are well positioned for the future.”

Marking their 25 years in business this year, Askey, Askey & Associates has shown an increase in revenue by 317% from the start. Today the firm has offices in Leonardtown and La Plata as well as remotely in Virginia and Texas.

“We are so pleased to be succeeded by Christa and Monica,” Cathy Askey said. “Their years with the firm helped to grow it to where it is today.”

Both Cathy and Bob will remain with AA&A as consultants, providing their extensive expertise to clients, as well as offering guidance to the new partners, whose brief biographies appear below.

Christa L. Hood, CPA, Managing Partner, has nearly 20 years of public accounting experience, focusing on tax, audit and consulting engagements for small and medium-sized businesses and not-for-profit organizations.  She received her Master’s in Business Administration (MBA) from Indiana University of Pennsylvania in 2002 and became a Certified Public Accountant (CPA) in the Commonwealth of Virginia in June of 2007. Her public accounting career began in 2004 and she decided immediately that she enjoys the personal interactions with clients that auditing requires. Ms. Hood joined Askey, Askey & Associates, CPA, LLC, in 2008 from a CPA firm in Northern Virginia. She most recently directed the audit practice as the firm’s Principal, prior to advancing to partner in June 2022. She is a member in good standing with the Maryland Association of Certified Public Accountants and the American Institute of Certified Public Accountants.

Ms. Hood joined the Board of Directors for Leadership Southern Maryland, after graduation from the program in 2018. She formerly served as Treasurer for the Southern Maryland chapter of Girls on the Run for three years.  She volunteers frequently with the Non-Profit Institute of the College of Southern Maryland by teaching seminars to local organization leaders on financial management. She grew up in Pennsylvania and currently resides in Lexington Park, Maryland, with her husband, James, and pup, Baxter. In her free time, Christa enjoys reading, traveling, and spending time with family and friends.

Monica A. Kempson, CPA, Tax Partner, began her public accounting career in 2007 at another local CPA firm and joined Askey, Askey & Associates, CPA, LLC in 2017.  Prior to working in public accounting, she worked for the Washington Nationals in their corporate accounting department and also in the accounting office of a local bank.  Her wide range of accounting experience brings a unique perspective for our business clients, along with many local connections to support our clients.  Her public accounting experience is focused on tax compliance, accounting and consulting for small and medium-sized businesses.  Ms. Kempson has most recently led the tax practice as the firm’s Director of Tax Services, prior to advancing to partner in June 2022.

Ms. Kempson has served on the Board of Directors for the Charles County Chamber of Commerce and also on their Finance Committee since 2020.  She graduated from the Leadership of Southern Maryland’s Executive Program in 2021, the “best class ever.” She is a Certified Public Accountant (CPA), licensed in Maryland.  She is a member in good standing with the Maryland Association of Certified Public Accountants and the American Institute of Certified Public Accountants (AICPA) and a member of the AICPA Tax Section.

Ms. Kempson lives in Charles County, MD with her husband and two young children.  She is an active member of her Church and enjoys being there whenever the doors are open.  She also enjoys volunteering in community events.

Cathy and Bob Askey, and Askey, Askey & Associates, express their sincerest gratitude to all of their loyal customers, without whose support, success would be elusive; and to all of their team members, past and present, whose dedication to customer service stands second to none. Cathy and Bob eagerly look forward to many more years of working in concert with the entire Southern Maryland community.

Askey, Askey & Associates, CPA, LLC, has two full-service offices located in Leonardtown, MD, at 23507 Hollywood Road, P.O. Box 662, Leonardtown, MD 20650, phone: (301) 475-5671; and in La Plata, MD, at 105 Centennial Street, Suite D, La Plata, MD 20646, phone: (301) 934-5780

 


Jenna Frosio

Askey, Askey & Associates, CPA, LLC, Southern Maryland’s award winning business consulting, accounting, and tax firm is pleased to announce that Jenna Frosio has earned her Certified Public Accountant (CPA) designation.  This designation denotes proven proficiency in auditing, financial reporting and tax regulation.

To become a CPA, Jenna passed a rigorous examination administered by the American Institute of Certified Public Accountants (AICPA).  She also met specific education and professional requirements, and exemplified the highest moral and ethical standards.

With Askey, Askey & Associates, CPA, LLC, since 2009, Jenna graduated from Salisbury University with a Bachelor of Science Degree in Accounting.

“I am very excited to put my education to work, and all the aspects of accounting with Askey, Askey & Associates, CPA, LLC.  It is such an energetic place to work, and I’ve already gained many years of hands-on experience allowing me to use my CPA designation,” stated Jenna.

According to Catherine A. Askey, CPA, CVA, ABV, Managing Partner of Askey, Askey & Associates, CPA, LLC, “We are delighted Jenna earned her CPA designation!”  Jenna is an intelligent, capable, new generation CPA, who melds very well into the personality of our firm, and leads by example.”


 

Heads Up - Maryland Healthy Working Families Act Passed

The New Maryland Healthy Working Families Act passed on February 11, 2018. Since that time, the Maryland Department of Labor, Licensing and Regulation has been working hard to make employers aware of the new requirements the law has for Maryland employers. Askey, Askey & Associates is also committed to understanding the new law and advising our clients on the ways it will affect Maryland employers and their employees. Here are some important things you need to know about the new law.

Employer’s subject to the law:

If an employer employs 15 or more employees, they must provide paid sick and safe leave at the employee’s normal wage rate.

If an employer employs 14 or fewer employees, they must at least provide an employee with unpaid sick and safe leave.

For purposes of the employee count, all part-time, full-time, temporary and seasonal employees are included in the employee count. The employer uses the average monthly employees for the preceding 12-month period to get the employee count.

Exemptions from the law for paid leave:

  • Anyone under age 18 prior to 1/1/18
  • Anyone employed in agricultural operations
  • Anyone who regularly works less than 12 hours/week
  • Employees in the construction industry covered by a collective bargaining agreement which waives the requirements of this law
  • Health or Human Services employees called on an as-needed basis
  • Independent contractors
  • Real estate brokers

 

Amount of leave required by law:

 

The employer is required to accrue at least one (1) hour of leave for every thirty (30) hours worked. Employers can cap the maximum amount of leave at 40 hours per year. Employers with accrual policies are required to allow employees to roll over up to 40 hours of unused, accrued leave at the end of the year. Employers can cap the amount of sick and safe leave available for use in a calendar year at 64 hours.

Employers who make the full forty (40) hours available at the start of the calendar year are not required to roll over accrued leave.

Waiting period:

Employers must begin accruing leave at the date of hire or effective date of the law, whichever is later. Employers can require that employees be employed for 106 calendar days before using the leave.

Existing Sick leave and Vacation leave policies:

If the employer has an existing policy for sick leave and vacation leave that is equal to or greater than the minimum leave required by law, the employer is allowed to combine the leave into a general PTO (paid time off) policy for all paid leave. In this case, the employer would need to revise their leave policies to include the allowable uses of the leave under the new law. Important Note: Employers may already have a policy that provides more than 40 hours of sick and safe leave per year but under the law the accrual may not be fast enough. Employers should check their current accrual rates to be sure they comply with the law.

Absences covered under the new law:

  • To care for or treat the employee’s mental or physical illness, injury or condition.
  • To obtain preventative care for the employee or a family member
  • To care for a family member with a mental or physical illness, injury or condition.
  • For maternity or paternity leave.
  • If the absence is necessary due to domestic violence, sexual assault or stalking against the employee or a family member.

 

Employers are required to notify their employees of the following:

 

  • Employers must have policies stating how leave is accrued and the permissible uses.
  • The policies must include anti-retaliation language and advise employees how to seek redress if employers do not comply.
  • Employers are required to post a workplace poster including information about the Act.A link to the poster is available at the end of this newsletter.
  • Paystubs and pay records must include the amount of leave used and the amount of leave available.

 

Record Retention:

 

Employers must keep records of each employee’s earned sick and safe leave accrued and used for at least three (3) years.

Helpful links:

State of Maryland Department of Labor, Licensing and Regulation – Frequently Asked Questions (FAQ’s):

http://www.dllr.md.gov/paidleave/paidleavefaqs.pdf

 

Maryland Earned Sick and Safe Leave Employee Notice Poster:

http://www.dllr.maryland.gov/paidleave/paidleaveposter.pdf