Cohen & Co. Focuses on Tax Reform, Technology
YOUNGSTOWN – Named the fifth-fastest growing CPA firm in the country by Accounting Today magazine, Cohen & Co. continues to bolster its Youngstown presence.
In 2019, the firm’s focus was on helping business owners, advancing technology, and developing and nurturing talent in the region.
Cohen & Co. has more than 650 employees and offices in seven states. Its Youngstown office is at 201 E. Commerce St., downtown.
With an entire year of the Tax Cuts and Jobs Act under its belt, the public accounting firm is helping many area businesses benefit, according to partner and CPA Lisa Loychik of the Youngstown office.
In addition to overall lower tax rates, the firm has been helping local companies plan for and maximize the 20% qualified business income deduction. A complex provision of tax reform, those who may have missed maximizing the QBID last year still have time to amend their 2018 returns, the only tax year that allows for this flexibility.
Meanwhile, Cohen & Co. recently implemented Robotic Process Automation, or bots, to automate transactional, highly repetitive back-office activities that will drive efficiencies and improve quality, Loychik says.
A more traditional area of focus for the firm is growth through recruiting and retaining high-quality talent. Nearly 60 interns and staff were hired firmwide this January. With a focus on Youngstown State University, building the staff and the Youngstown office remains important.
In addition to participating in annual YSU events, the Youngstown office hosted an open house in 2019, offering all YSU accounting students an opportunity to learn more about the profession and the firm. The firm also invited area students to attend Cohen’s Leadership Day.
Copyright 2022 The Business Journal, Youngstown, Ohio.