The Ohio legislature passed House Bill 33 in July of 2023, and arguably the most significant piece of tax legislation was changes to the Ohio Commercial Activity Tax (CAT). In essence, while the changes do not eliminate the CAT, they effectively will result in most small businesses exempted from the tax over the next couple of years.
With the quick passage of the Tax Relief for American Families and Workers Act of 2024, this bill is now sitting within the Senate Chambers. One of the primary features of this bill was the expansion of the Research & Development credit so important to small and midsize businesses that we serve every day.
As we get settled into 2024, one area that all business leaders continue to monitor closely is what the merger and acquisition (M&A) market will reveal after about eighteen months of uncertainty and wavering expectations. With inflation leveling, potential federal rate cuts in our future, and a presidential election year upon us, there is a lot to evaluate and consider as businesses look to jump into the M&A waters once again.
Owning and leading a closely held business can be time-consuming, requiring absolute focus from its owner(s). However, it is essential to take time to reflect on the future of the business and its leaders.
The Carwash Industry remains one of the most dynamic and changing business environments in the service sector as we head into 2024. Over the past several years, the industry has grown exponentially due to the customer demand for higher convenience, the rise of the subscription service business model, a variety of ownership models leading to increased growth and economies of scales, and technology advancements to increase overall customer demand.
Audit and Assurance (A&A) Principal, Danielle Kimmell, was recently honored by Goodwill Industries of Akron for her extraordinary accomplishments in volunteerism and dedication to the Greater Akron community.
Principal and National Restaurant Practice Lead, Dirk Ahlbeck, was recently featured in the Illinois Brewing Small-Business Spotlight.
Business Valuation and Litigation Manager, Bethany Lawrence, was recently spotlighted by Greater Akron Chamber as a 30 For the Future honoree.
AGP is pleased to announce that the Community Outreach Charitable Giving Fund, established with the Akron Community Foundation, is now open to receive grant proposals dedicated to advancing financial literacy education.
Apple Growth Partners (AGP) announces its annual promotions. The firm has also been named a 2023 IPA Top 300 Firm by INSIDE Public Accounting, for the seventh consecutive year.
