Stephen Gibson is an entrepreneur-in-residence at Brigham Young University, and has published a column with his reflections of simple, yet solid, advice he gained from his CPA of 26 years.
CPAs may want to review his list for a glimpse into what a few simple ideas means to him. The areas covered include:
- differences between cash and profit
- leasing versus buying
- the value of an S Corpoation
- multiple S Corporations
- spreading stock ownership among family members
- cash versus accrual accounting
- filing timely tax returns.
What are some of the "golden nuggets" that your clients have gleaned from you? Can you publish a "Best Of" list of ideas for your clients? Would this be a good idea? What are you waiting for????