“The tax law must be simplified. Do away with the tax credits and replace it all with lower tax rates.” Do you feel the same way? E. Lynn Nichols, CPA, made this statement while on the topic of what he calls “today’s ineffective tax administration.” One reason why Lynn feels so strongly about revamping the current tax system is that such an overhaul would do wonders in catching “the tax cheats,” as Lynn put it. Further commenting, “Nothing of substance is going to happen until after the election.” I certainly won’t dispute that one!
Lynn Nichols started in public accounting in 1964. During that nearly 50-year stretch, Lynn says he has not witnessed any period of time quite like what we’re all in the midst of right now. “The state of tax law has never been as chaotic as it is today,” stated Nichols. As an experienced tax accountant and also a tax CPE teacher through Nichols Patrick CPE, Inc., agree with his stance or not, you have to give it considerable weight due to his time in the trenches.
Speaking of trenches, there’s a lot of digging going on in Northeastern Ohio where Lynn Nichols makes his home. Growth in this part of Ohio, as well as in Northwestern Pennsylvania, is booming due to the expansion of steel production and the oil/gas industry explosion in this part of the country. Comments Lynn, “This area will be as prosperous in five years as it was 40 years ago.” Great news for jobs, great news for America.
On a more somber note, Lynn Nichols took a step not often seen in the world of accounting. Taking a stance to admit his battle with alcoholism, Lynn has never seen it as being “brave”—it never occurred to him. Like many alcoholics who have struggled to beat the disease, they want to help others. Count Lynn Nichols in that group.
To read more of Lynn’s story and also find out about the Concerned CPA Network, click the photo of Lynn below.
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