Paul Oliveira has been named shareholder of Kahn, Litwin, Renza & Co. Oliveira is a certified public accountant with more than 19 years of public-accounting experience. Prior to joining KLR, he was a tax partner performing corporate-tax services to large companies throughout New England. He has a B.S. in business administration and an M.S. in taxation from Bryant University.
PBN: What is the role of a CPA?
OLIVEIRA: The CPA has always had a unique position as a business consultant; the “trusted adviser” as we like to say at KLR. Certainly, there is still the traditional audit, accounting and tax role providing management and boards of directors of businesses with relevant and timely information to guide decisions. But well beyond that, the CPA has a responsibility to maintain a complete understanding of the client’s industry and, in a number of different disciplines, to be an effective strategic partner.
PBN: KLR is the largest Rhode Island-based CPA and business-consulting firm. What has been the key to its success?
OLIVEIRA: I think the main key to KLR’s success has been the firm’s ability to identify opportunities and its willingness to invest in the people and resources necessary to remain that effective strategic partner that I described. It’s the reason, for instance, why KLR is capable of delivering international services that assist a company in evaluating whether to invest overseas or for a foreign company to invest here in Rhode Island.
PBN: Can you name a particular example of Rhode Island’s tax structure that is either a benefit or a burden for businesses?
OLIVEIRA: On balance, the state’s current tax structure is hurting Rhode Island’s existing businesses’ ability to grow, as well as the state’s ability to create new jobs. Unfortunately, Rhode Island has acquired the national reputation as a high-tax state. While tax policy is only one element of economic development, this perception really needs to be overcome before Rhode Island can move forward. …
On the plus side, I think the General Assembly should be applauded for their decision this year to hold the line on taxes in what was yet another very difficult budget season. Changes in recent years such as the flat tax option for individuals, lower capital gains taxes, and the caps on property tax increases were all good steps. We need to continue to build on those efforts so that Rhode Island measures more favorably in comparison with its neighboring states. •
