According to Suite101, the services of Certified Public Accountants (CPAs) often extend beyond helping clients file their tax returns. They are often found behind the front lines helping start-up business owners realize their dreams no matter what they may be.
Borrowing on his own experience in opening his office in the mid 1990s, Adonu “Don” Idahosa, president of Symphony Financial Services in Kalamazoo, Michigan, says he doesn’t see it as part of his job as a CPA to second guess the entrepreneurs coming to him for help.
“It’s not up to me to judge whether a client has a good idea or not, nor is it up to me to discourage or encourage him or her either way. My job is to give them the best advice possible,” he says, adding, “not any one person is the whole forest. Even today, if I have something I’m thinking about doing, I consult a friend with knowledge in that particular area.”
According to Idahosa, the most valuable service his office provides for start-ups, in addition to helping them set up and keep accurate accounting records, is advising them against pitfalls such as hiring too many employees “because of the consequences of having to meet excessive payroll taxes.”
When it comes to the subject of taxes, Idahosa said he may advise clients about the tax advantages of various business practices, “but just don’t ask me about ‘loopholes,’” he says, adding, “that’s the best way to get me to show you to the door. I tell my clients that it’s my job to make them pay their fair share.”
Photo by forwardcom.