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Running a business in Ohio is no small feat. Balancing time, resources, and priorities can be challenging. Amid all this, accounting tasks often become overwhelming, eating into time that is better spent on strategic growth and core business activities.

This is where outsourcing your accounting needs can make a significant difference. At Holbrook & Manter, we specialize in providing services that are designed to meet the unique needs of an business owner. By partnering with a trusted firm like us, you can unlock a host of benefits that streamline your operations and set your business up for long-term success.

Why…

After successfully navigating the start-up phase, your business has a strong foundation for growth. At the growth stage, business and financial advisory services become essential. Focus on these two key areas to elevate your company to the next level.

1. Financial and tax reporting 

Businesses in the growth stage usually have more sophisticated financial reporting needs than start-ups. As a result, those who previously relied on cash or tax-basis accounting methods may need to graduate to accrual-basis methods and start following U.S. Generally Accepted Accounting Principles (GAAP).

Lenders and investors may require CPA-prepared financial statements, which include the…

Business owners in Ohio should be aware that the annual exclusion amount for Commercial Activity Tax (CAT) will increase beginning on January 1, 2025. The amount will double from $3 million to $6 million.

The Q4 2024 CAT returns are still required to be filed by February 10, 2025.  Taxpayers with anticipated taxable gross receipts of $6 million or less for the calendar year 2025 will no longer be required to pay CAT.  You can cancel the account several ways, but the easiest way is to check the cancellation box when filing the return for Q4 2024.

For more information…