Happy Thanksgiving

Sending good wishes to you this Thanksgiving! Good food that fills your table, good health as you work hard, and good times with family and friends. May you have all the best delights in life. Happy Thanksgiving!

Don’t forget to enjoy some football!   Go Buckeyes!


House passes Build Back Better Bill

House lawmakers on Nov. 19 approved the $1.7 trillion Build Back Better Act (H.R. 5376) along partisan lines by a margin of 220-213, sending the measure to the Senate where it is certain to undergo changes.

Senate Democratic Leader Charles Schumer, D-N.Y. said after House passage of the massive social spending bill that the Senate would immediately take up the measure. “We will act as quickly as possible to get this bill to President Biden’s desk and deliver help for middle-class families,” said Schumer.

After review by the Senate Parliamentarian the chamber will need to hold a vote to proceed to the measure. Sen. Joe Manchin, D-WVa., who has consistently questioned the cost of the legislation, has not said how he will vote on the motion to proceed. Assuming the bill moves forward, the Senate could take months wrangling over the particulars of the bill before sending it back to the House despite Schumer’s claim that it will be finished before Christmas.

The bill extends the enhanced child tax credit (CTC) for one year, establishes universal and free preschool, paid leave and includes $550 billion of investments in clean energy and other climate change initiatives. There are also a slew of tax provisions including: a surtax of 5% on personal income above $10 million, and 3% on income above $25 million; a 15% minimum tax on corporate profits of large corporations with over $1 billion in profits, a 1% tax on stock buybacks, and a 50% minimum tax on foreign profits of U.S. corporations.

Build Back Better summary

ARM Announces New Shareholder

ARM is pleased to announce, effective 01/01/2022, Chelsea Williams will be promoted to Shareholder.

For this honor, we asked Chelsea to put down a few words about what this promotion means to her:

It was recently announced I would become a shareholder at ARM CPA as of 1/1/2022. I was asked by a teammate what this moment means to me. I thought to myself, “How could I possibly put into words everything that is going through my head?” The truth is… I can’t. No amount of words could ever fully express the gratitude and appreciation I have for the people at ARM.

Twelve years ago, ARM took a chance on a Capital University intern from Grove City, Ohio. Listed as prior work experiences included only blacktop seal coating, banquet server, and cabinet warehouse manufacturer. Neither the company nor I could have ever predicted I would become a shareholder in the firm one day. This originally was not a realistic goal of mine, but after a few years with the company it was, without a doubt, where I wanted to be. Nothing worth having comes easy or free. But it is a blessing to be able to work with people every day that I consider family.

I wouldn’t be the person, or in the position, I am today without my family. My family has and always will be my #1 priority. I was the lucky girl who got to marry the man she had a crush on in high school. My husband pushes me to be better and expect more out of myself. We have a smart and outgoing daughter who would take on the world at age six if we let her. My parents are amazing. They taught me that hard work, dedication, and a work ethic without excuses will prevail. Additionally, I have had both sides of grandparents, aunts, and uncles who have always been actively involved in my life. My brother grew up having to deal with my competitive nature. We teased each other to no end. However, he knows that he will always be my best friend.

I am extremely grateful for this opportunity. My presence, actions, and attitude will represent the name and brand that the leaders have blazed before me. I am excited for the chance to be a part of the legacy.

– Chelsea L. Williams CPA